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Avala Resources Announces Initial Resource Estimate for Korkan Project Area; Stocks Slightly Above Year Lows

Avala Resources Ltd. (AVZ.V) announced the initial resource estimate for the Korkan project area, part of its Timok Gold Project, a new gold discovery in an emerging sediment-hosted gold belt located in Eastern Serbia.

The Korkan mineral resource has been estimated at 20.1 million tonnes grading an average of 1.5 g/t gold in the inferred resource category for 1 million ounces of gold, using a 0.6 g/t gold cut-off.

AVZ is unchanged at 44 cents, which is just 4 cents above year lows. Over 29,000 AVZ shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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