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Avanco Resources Ltd.
Summary
| Project: | Antas Mine | |
|---|---|---|
| Deposit: | Azevedo | |
| Location: | Brazil | |
| Commodities: | Copper-Gold | |
| Date: | 5/24/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 24-5-2018: Avanco Resources Ltd. announces an Exploration/Drilling Update report for its Azevedo deposit at the Antas Mine project. Drilling results incl. 4.3m @ 7.61% Cu from 30.0m. ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to provide the following | |
| Resources: | (Reserve, P+P): 3.04Mt @ 2.64% Cu, 0.58g/t Au at Antas | |
| CP/QP: | [Overall Report]: Simon Mottram (Internal) | |
| ABSTRACT: | ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to provide the following update on exploration activities at the Azevedo prospect situated proximal to the Antas Mine 1 . The Azevedo prospect is located approximately 400 metres northwest of the producing Antas open pit mine. The prospect was discovered in 2017 from near-mine scout drilling of an EM (electromagnetic) geophysical anomaly, which identified a plunging mineralised shoot (refer to ASX announcement “Antas Exploration Update: New Near Mine Exploration Prospect Identified” dated 20 July 2017). Subsequent drilling has outlined a narrow, steeply plunging, pipe-like shoot similar to the Antas orebody but on a smaller scale. Mineralisation consists of disseminated sulphide and lesser amounts of semi-massive sulphide (chalcopyrite) mineralisation, and gangue sulphides. Mineralisation is broadly continuous from section to section, extending some 100 metres vertically from surface. The drill sections presented in the appendix to this announcement illustrates the plunging nature and potential extent of copper mineralisation. Section 1 confirms a high-grade intersection close to surface in hole AAND-131, with the mineralised zone interpreted to plunge below hole AAND-132. Additionally, AAND-132 intersects lower grade mineralisation situated over the top of the mineralised zone. This is consistent with the interpretation of the earlier drill holes on Section 2 (refer to ASX announcement “Positive exploration results at Azevedo Prospect” dated 14 December 2017), which has been reproduced for reference. This section also shows sulphide mineralisation intersected close to surface in holes AAND-114 and AAND-127, with the mineralisation interpreted to plunge below hole AAND-122, with the drill string passing over the top of mineralisation. Although there is currently insufficient information to prepare a Mineral Resource estimate for Azevedo, management believe that Azevedo has the potential to provide a modest quantity of additional feed for the Antas plant. To support this assumption, another section will be drilled further to the west of the prospect aimed at testing the potential strike extent. On completion of this additional drilling, management will be able to examine the open pit potential for Azevedo. The Company maintains the view that Azevedo could form part of a larger mineralised system around Antas, thus any proximal EM anomalies warrant further investigation. The potential for a significant discovery justifies the Company’ on-going investment in near mine exploration at Antas | |
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