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Avanco Resources Ltd.
Summary
| Project: | CentroGold | |
|---|---|---|
| Deposit: | Contact Zone | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 1/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 19-1-2017: Avanco Resources Ltd. announces a Resource Estimation report for its Contact Zone deposit at the CentroGold project. Mineral resource estimate for Contact Zone of CentroGold project. Further to Avanco Resources Limited’s (“Avanco” or the “Compa | |
| Resources: | (Resource, Inf.): 8.0Mt @ 2.3g/t Au for 592300oz Au contained at Blanket Zone | |
| CP/QP: | [Resources]: Aaron Green (CSA Global Pty Ltd.) | |
| ABSTRACT: | Further to Avanco Resources Limited’s (“Avanco” or the “Company”) announcement of 20 December 2016, the Company is pleased to announce a significant Mineral Resource upgrade at the CentroGold Project1 (“Project”) in northern Brazil. The Cipoeira Deposit within the CentroGold Project (“Project”) consists of two separate zones; the Blanket Zone for which a maiden Mineral Resource was reported in December 20163 , and the adjacent Contact Zone, which is the subject of the current release. Given the Company’s desire to reevaluate the higher-grade portions of these deposits, Mineral Resource estimates were carried out separately. The Contact Zone adds significantly to the Blanket Zone Inferred Resource and enhances the potential of the Project for a near-term open pit development opportunity. where the combined Mineral Resource now stands at 20 million tonnes at 2.0g/t gold for more than 1.2M ounces. The size and tenor of this resource underscores the Company’s belief that the Project has the potential to support a scalable, low-capex open pit mining operation. Further significant growth potential exists, with the nearby Chega Tudo Deposit, in addition to the exploration potential associated with the large contiguous tenement package. | |
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