Avocet Mining PLC Prospectus December 2011

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Avocet Mining PLC West African Projects Table 48 Summary parameters of 2010/2011 CRM Au Standard(s) Calculated Values No. of Samples Standard Code Value SD Mean Au SD CV Mean Bias 61D 4.76 0.24 121.00 6.20 2.53 0.41 30.35 62PB 10.50 0.53 34.00 11.00 0.60 0.05 4.72 BLANK 0.01 0.03 1,287.00 -0.01 0.01 0.00 -178.24 G301-10 5.57 0.21 124.00 5.54 0.19 0.03 -0.58 G399-5 0.87 0.05 131.00 -41.38 485.43 0.00 -4,856.24 G903-10 0.21 0.02 111.00 -49.83 527.28 0.00 -23,830.80 G906-1 1.67 0.09 1.00 2.00 0.00 0.00 19.76 G906-4 1.93 0.09 146.00 1.96 0.19 0.10 1.60 G907-8 6.78 0.28 105.00 -46.46 542.75 0.00 -785.22 G909-10 0.52 0.05 110.00 0.53 0.14 0.26 1.80 G996-1 - - 2.00 3.08 0.15 0.05 - G996-4 0.51 0.04 96.00 0.65 0.67 1.04 27.14 G998-1 2.95 0.12 81.00 -65.52 617.68 0.00 -2,320.93 G998-10 3.05 0.15 1.00 3.40 0.00 0.00 11.48 A duplicate has typically been taken every 10 samples giving a total of 1,336 duplicate sample pairs for the project to date. Figure 42 is a scatter plot of the paired data until 2008. There is a good correlation between the duplicate samples indicating satisfactory laboratory accuracy. Figure 42 Scatter plot of sample duplicates Repeat assays from operations in early 2011 have also yielded a good accuracy and precision, as plotted in Figure 43. Report No: R253.2011 131 348
Avocet Mining PLC West African Projects Figure 43 Koulékoun gold assay repeats, Jan‐April 2011 Independent witness samples (IWS) were taken every 20 original samples with 822 taken prior to October 2010. Figure 44 is a one‐to‐one plot of the original and independent witness samples. There is a strong bias towards the original samples compared to the IWS samples particularly above 1ppm gold. CSA disagree with Scott‐Wilson’s comments regarding the relevance of second samples versus sample rejects or pulps and believes that this indicates a potential issue with one of the laboratories used for sample analysis. CSA recommend additional testwork including a review of the analytical methods used at the witness laboratory, the use of a third umpire laboratory and additional samples sourced from bulk reject material to ascertain the source of the bias. Report No: R253.2011 132 349
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AVOCET MINING PLC * PROSPECTUS * DE
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Avocet Mining PLC Prospectus December 2011

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