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Avanco Resources Ltd.
Summary
| Project: | CentroGold | |
|---|---|---|
| Deposit: | Blanket | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 11/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 23-11-2017: Avanco Resources Ltd. announces an Exploration/Drilling Update report for its Blanket deposit at the CentroGold project. Drilling results incl. 51m @ 4.34g/t Au from 95m. ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to report confirmed high | |
| Resources: | (Resource, I+I): 31.5Mt @ 1.8g/t Au for 1.863Moz contained at project | |
| CP/QP: | [Overall Report]: Simon Mottram (Internal) | |
| ABSTRACT: | ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to report confirmed high grade gold from infill drilling at the Blanket orebody at the Company’s 100% owned CentroGold Project 1 . Early holes have returned abundant high grade gold intersections at Blanket, over substantial widths, underscoring the project as having outstanding potential to become a sizeable ounce gold mine. Director, Simon Mottram said: “While the larger drill program at Contact is pivotal to the CentroGold Scoping Study, this has also afforded us the opportunity to undertake infill drilling at Blanket and test the veracity of some of the most important high-grade intersections. All four holes intersected the orebody exactly where expected, and in some cases returned better than expected results. Following these positive results, I envisage that we will return to the Blanket orebody in the new year to complete infill drilling on 35 metre spaced infill sections, with the aim of classifying reserves in the pre-feasibility study.” The CentroGold Project is located in Maranhão, northern Brazil. It comprises a contiguous 140,000 hectares of tenements situated along a highly prospective and under explored 75-kilometre greenstone trend. The Project hosts three proximal orebodies, Blanket, Contact and Chega Tudo, for which the Company recently announced a 45% increase in JORC reported resources. CentroGold is an advanced stage project with excellent grades and a Scoping Study underway. The project is characterised by it’s potential as a low-risk medium-sized operation, expected to produce free milling ore from open pit mining, and utilising traditional carbon-in-leach technology for gold extraction. | |
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