In an announcement dated 16th April, 2004, Avoca (AVO) advised...

In an announcement dated 16th April, 2004, Avoca (AVO) advised that additional high-grade drilling results had been returned from the Company’s second reverse circulation (“RC”) drilling program completed beneath an outcropping quartz reef located within its Mt Fisher Gold Project.

Five holes from a planned 20-hole program were completed prior to heavy rains associated with Tropical Cyclone Fay suspending drilling in early April. The best results from the partially completed program were given as:

1 metre at 187.0 g/t Au from 71 metres in MTFC009
4 metres at 6.3 g/t Au from 45 metres in MTFC010
2 metres at 3.8 g/t Au from 48 metres in MTFC008

All five completed holes in the second drilling program panned visible gold.

Avoca reported intersecting the gold-bearing reef over a strike length of 350 metres in all eleven RC holes it had completed to date. Eight of the eleven RC holes completed had panned VISIBLE gold from the mineralised reef, WHICH REMAINED OPEN along strike and at depth.

Drill hole MTFC009 which intersected 1m @ 187 g/t Au was drilled 25m away from the previously reported high grade intercept of MTFC002 which intersected 5m @ 35.4 g/t Au, suggesting a possible northerly shoot plunge to the high grade mineralisation.

I believe the remainder of the planned 20-hole drill program has now been completed and results are pending. Interestingly, I am informed the Company is keen to keep the rig on-site at Mt Fisher!

Avoca management is due on Monday week to kick off a roadshow in London with a presentation at the VSA Resource Conference, which will showcase Australian goldminers (of which, I am told, Avoca is to be the only junior present). This will be followed up by presentations to London brokers, and I would not be at all surprised to see the release of the Mt Fisher results shortly in anticipation.