October 18, 2010 / 1:21 PM / in 7 years

UPDATE 1-Avnel warns of possible errors in assay results

* Says SGS lab did not follow accurate protocols

* Says assay results from Kalana might be inaccurate

TORONTO, Oct 18 (Reuters) - Avnel Gold Mining AVK.TO said on Monday that assay results related to its Kalana exploration project in Mali, West Africa, might be inaccurate, as the SGS laboratory testing the drill samples did not follow certain protocols.

Avnel said it was informed about the issue by Iamgold (IMG.TO) -- its joint venture partner on the project. The issue is being intensively investigated by both SGS and Iamgold and remedial action has been initiated.

Avnel said the SGS laboratory at Kalana has been closed temporarily and will be re-commissioned when more experienced SGS personnel are seconded to the laboratory and additional equipment installed.

The company said that Iamgold informed it that there is a reasonable possibility that SGS’s failure to apply appropriate protocols may have introduced errors into the assay results reported in the “Kalana Project Update” press release, which it released in June.

A spokesperson for SGS was not immediately available for comment. (Reporting by Euan Rocha, editing by Dave Zimmerman)

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