Avanti Gold Confirms Akyanga Gold System Open at Depth, Extends Mineralization Beyond 3.11 Moz Inferred Pit Shell with Drilling Results Including 2.98 m at 6.20 g/t Au
Rhea-AI Summary
Avanti Gold (OTCQB: AVTGF) reported initial 2026 Phase I diamond drilling results from the Akyanga deposit at its Misisi Gold Project in the DRC. Holes MSDD0145 and MSDD0146 intersected multiple gold zones below the US$1,500/oz pit shell that constrains the current 3.11 Moz Inferred Mineral Resource.
Significant intercepts include 4.30 m at 1.71 g/t Au and 6.80 m at 1.59 g/t Au (including 0.50 m at 12.60 g/t Au) in MSDD0145, and 20.43 m at 0.91 g/t Au plus 2.98 m at 6.20 g/t Au (including 2.00 m at 9.05 g/t Au) in MSDD0146. The company states these results confirm mineralization continues at depth, supporting expectations of future resource growth ahead of a 2027 Preliminary Economic Assessment, within a 42,000 m drill program now underway and with more rigs being added.
Positive
- High-grade intercepts up to 2.98 m at 6.20 g/t Au, including 2.00 m at 9.05 g/t Au in MSDD0146, below the current pit shell
- Resource extension at depth with mineralization confirmed below the US$1,500/oz pit shell that constrains the 3.11 Moz Inferred Resource
- Existing Akyanga resource of 40.8 Mt at 2.37 g/t Au for 3.11 Moz Inferred, open at depth and along strike
- Large drill program of 42,000 m underway, with up to 6 rigs expected on site to support accelerated exploration and future resource updates
- Planned 2027 PEA targeted after ongoing resource growth drilling, providing a defined timeline for the next key technical study
Negative
- Current Akyanga resource remains Inferred category only, based on 40.8 Mt at 2.37 g/t Au, requiring substantial further drilling to upgrade confidence
- No updated resource estimate is provided with these results; mineralization is described as open at depth and along strike, implying continued exploration before reserve definition
- Economic assessment timing is only anticipated in 2027, indicating several years before detailed project economics are available to investors
AI-generated analysis. How Rhea-AI works. Not financial advice.
HIGHLIGHTS
- Phase I drilling intersects gold mineralization below US
$1,500 /oz pit shell constraint, confirming the 3.11 Moz Akyanga gold system extends beneath the current Mineral Resource and remains open at depth - MSDD0145 returned:
- 4.30 m at 1.71 g/t Au from 262.40 m; and
- 6.80 m at 1.59 g/t Au from 276.00 m, including 0.50 m at 12.60 g/t Au from 282.30 m.
- MSDD0146 returned:
- 20.43 m at 0.91 g/t Au from 297.92 m, including 7.00 m at 1.48 g/t Au from 311.35 m; and
- a separate interval of 2.98 m at 6.20 g/t Au from 325.27 m, including 2.00 m at 9.05 g/t Au from 326.25 m.
- Results support continued resource growth anticipated ahead of 2027 Preliminary Economic Assessment
- Additional rigs now dedicated to site; Phase 2 program imminent, with more assay results to follow
Vancouver, British Columbia--(Newsfile Corp. - August 11, 2026) - Avanti Gold Corp. (CSE: AGC) (FSE: X370) (OTCQB: AVTGF) ("Avanti" or the "Company") is pleased to report initial assay results from its 2026 Phase I diamond drilling program at the Akyanga Deposit, part of the Company's Misisi Gold Project in the Democratic Republic of the Congo ("DRC"). Diamond drill holes MSDD0145 and MSDD0146 intersected multiple zones of gold mineralization below the limits of the US
Intersects from Diamond Drilling at the Akyanga Deposit include:
MSDD0145
- 4.30 m at 1.71 g/t Au from 262.40 m; and
- 6.80 m at 1.59 g/t Au from 276.00 m, including 0.50 m at 12.60 g/t Au from 282.30 m.
MSDD0146
- 20.43 m at 0.91 g/t Au from 297.92 m, including 7.00 m at 1.48 g/t Au from 311.35 m; and
- 2.98 m at 6.20 g/t Au from 325.27 m, including 2.00 m at 9.05 g/t Au from 326.25 m.
Mohamed Cisse, Chief Executive Officer of Avanti, commented: "These initial results confirm what our geological model has long indicated – the Akyanga system continues well below the limits of the current resource, and we have only scratched the surface of what this deposit can become. With more rigs dedicated to the site and a systematic program designed to significantly grow our 3.11 million ounce resource ahead and a Preliminary Economic Assessment planned for 2027, we believe the full value of the Misisi Project is yet to be recognized. As drilling progresses, our focus remains on testing extensions of the known mineralized system and generating the geological information required to support future resource growth, with additional results expected throughout the remainder of 2026."
QUALITY CONTROL AND QUALITY ASSURANCE
Drill core was sampled at intervals of up to one metre and cut longitudinally using a diamond saw. One-half of the core was retained for reference, while the other half was placed in sealed sample bags under the supervision of Company geologists and transported to the independent SGS laboratory in Mwanza, Tanzania. Samples were crushed to
ABOUT THE AKYANGA DEPOSIT
The Misisi Project site is located in the Fizi territory of South Kivu province, in the DRC, approximately 250 kilometers south of Bukavu and 180 kilometers north of Kalemie. The Akyanga Deposit, located centrally in the Misisi Project, hosts an NI 43-101 compliant Inferred Mineral Resource of 40.8 million tonnes averaging 2.37 g/t gold containing 3.11 million ounces which was based on 19,956m of historic drilling, including 105 diamond drillholes ("DD") totalling 19,070 meters and six reverse circulation ("RC") drillholes totalling 887 meters. The Akyanga resource is determined from surface to a vertical depth of 350 meters over a strike length of 2,100 metres, using a US
Figure 1: Akyanga Deposit Plan View with Drill hole locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6873/309123_58aa6dcc24b2daca_002full.jpg
As shown in Figure 1, drill holes MSDD0145 and MSDD0146 totalled 763.5 metres and generated 784 samples for analysis at the SGS laboratory in Mwanza, Tanzania. The assay results provide additional geological and grade information below the current pit-constrained Mineral Resource and support the Company's interpretation that mineralization continues at depth in this portion of the Akyanga Deposit.
Figure 2: Cross section through hole MSDD0145
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6873/309123_58aa6dcc24b2daca_003full.jpg
Figure 3: Cross section through hole MSDD0146
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6873/309123_58aa6dcc24b2daca_004full.jpg
Figures 2 and 3 illustrate cross-sections through drill holes MSDD0145 and MSDD0146.
MSDD0145 intersected multiple mineralized intervals, including 4.30 m at 1.71 g/t Au from 262.40 m and 6.80 m at 1.59 g/t Au from 276.00 m, including 0.50 m at 12.60 g/t Au from 282.30 m.
MSDD0146 intersected several mineralized zones, including 3.40 m at 2.21 g/t Au from 231.00 m, 2.20 m at 1.79 g/t Au from 262.00 m, 20.43 m at 0.91 g/t Au from 297.92 m, including 7.00 m at 1.48 g/t Au from 311.35 m, and a separate interval of 2.98 m at 6.20 g/t Au from 325.27 m, including 2.00 m at 9.05 g/t Au from 326.25 m.
Table 1: Significant intercepts2
| Hole ID | Drill | Collar Location | From | To | Intercept | Grade | Comments | ||
| Type | m E | m N | m E | (meters) | (g/t Au) | ||||
| MSDD0145 | DD | 692366.52 | 9472149.6 | 851.0 | 262.40 | 266.70 | 4.30 | 1.71 | |
| MSDD0145 | DD | 692366.52 | 9472149.6 | 851.0 | 276.00 | 282.80 | 6.80 | 1.59 | Incl. 0.5m @ 12.6 g/t from 282.3m |
| MSDD0145 | DD | 692366.52 | 9472149.6 | 851.0 | 286.60 | 289.75 | 3.15 | 0.73 | |
| MSDD0145 | DD | 692366.52 | 9472149.6 | 851.0 | 299.80 | 300.55 | 0.75 | 2.72 | |
| MSDD0145 | DD | 692366.52 | 9472149.6 | 851.0 | 302.30 | 302.90 | 0.60 | 1.16 | |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 221.20 | 225.60 | 4.40 | 0.49 | |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 231.00 | 234.40 | 3.40 | 2.21 | |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 246.50 | 248.50 | 2.00 | 0.52 | |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 262.00 | 264.50 | 2.20 | 1.79 | |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 277.55 | 278.55 | 1.00 | 1.22 | |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 297.92 | 318.35 | 20.43 | 0.91 | Incl. 7.0m @ 1.48 g/t from 311.35m |
| MSDD0146 | DD | 692221.98 | 9472310.4 | 849.6 | 325.27 | 328.25 | 2.98 | 6.20 | Incl. 2.0m @ 9.05 g/t from 326.25m |
2Intercepts are reported as downhole lengths. True widths are estimated to be approximately
GEOLOGY AND MINERALISATION
The geology of the Misisi project area is dominated by Proterozoic meta-sediments comprising interbedded quartz muscovite schists, schistose arkoses, muscovite quartzites, and quartzites; pebble conglomerates and foliated mafic intrusion. Gold mineralisation is associated with numerous zones of stacked quartz veins that occur sub-parallel to bedding. The mineralised zones have strike lengths of up to 2,000 m and are generally less than 10 m thick. At the southern end of the Akyanga deposit the vein zones dip moderate to shallowly to the southeast. In the central and northern part, the deposit steepens at surface, such that at the northern end the mineralisation is near vertical at surface and flattening out down dip. The depth of weathering is estimated to be approximately 30 m. Mineralisation is structurally and lithologically controlled, in association with local deformation zones, and occurs along north-south striking structures. The current interpretation is that the base of a mafic unit provides a contact with hardness contrast along which there has been structural movement.
ACCELERATED EXPLORATION STRATEGY
The Company has adopted a phased exploration strategy designed to maximize drilling productivity while rapidly advancing resource growth.
- Expand the existing resource footprint;
- Upgrade confidence in the current resource;
- Test extensions of known mineralization; and
- Generate geological data to support future resource growth.
UPCOMING NEWS FLOW
The Company expects a strong pipeline of exploration milestones over the coming months, including:
- Commencement of Phase 2 drilling with the extra 2 rigs (the additional 2 rigs to make it a total of 6 rigs are now expected to be arriving during the month of August 2026);
- Ongoing drill assay releases;
- Resource growth drilling of the Akyanga mineral resource; and
- Continued advancement toward future resource updates and technical studies initial drilling results from regional exploration targets across the Misisi Project.
ABOUT AVANTI GOLD CORP
Avanti Gold Corp. is a gold exploration company focused on advancing its flagship Misisi Project in the Democratic Republic of Congo (DRC), home to the high-grade Akyanga gold deposit. The Akyanga deposit has an Inferred Mineral Resource of 40.8 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totaling 3.11 million ounces (Moz) of gold. The Misisi Project spans three contiguous 30-year mining leases covering 133 square kilometers (km²) along the 55-kilometer-long Kibara Gold Belt, a prominent metallogenic province known for hosting significant gold deposits. A 42,000-metre drill program, the largest in the project's history, is now underway with the objective of growing gold resources in advance of a Preliminary Economic Assessment anticipated in 2027.
¹ QUALIFIED PERSONS STATEMENT
Ephraim Masibhera, B.Sc. Geol (UZ), MSc Cd, MGSSA, Pr.Sci.Nat, Technical Director, at Kweneng Group, an independent Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical information contained in this news release. The drill holes referenced in this news release, MSDD0145 and MSDD0146, form part of the Company's ongoing 2026 Phase 1 drilling program at the Akyanga Deposit. The Qualified Person reviewed the available drill collar, down-hole survey, geological logging, sampling, chain-of-custody and QA/QC information and considers the data adequate for the purposes of this disclosure.
¹ As disclosed in the Misisi Project August 1st 2023 Technical Report available on Avanti's website and on SEDAR+
CONTACT INFORMATION
For Inquiries:
Mohamed Cisse
Chief Executive Officer
info@avantigoldcorp.com
pr@avantigoldcorp.com
FORWARD-LOOKING STATEMENTS
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking statements", including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Avanti. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309123