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Avanco Resources Ltd.
Summary
| Project: | CentroGold | |
|---|---|---|
| Deposit: | Contact Zone, Blanket Zone | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 3/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 12-3-2018: Avanco Resources Ltd. announces an Exploration/Drilling Update report for its Contact Zone, Blanket Zone deposit at the CentroGold project. Drilling results incl. 51.00m @ 4.29g/t Au from 22.0m. ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased t | |
| Resources: | (Resource, I+I): 32.6Mt @ 1.9g/t Au for 1.999Moz Au contained | |
| CP/QP: | [Overall Report]: Simon Mottram (Internal) | |
| ABSTRACT: | ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to report that infill drilling has discovered new zones of high-grade gold mineralisation in the centre and southern portions of Contact, at the 100% owned CentroGold Project 1 . Assays returned high-grade gold intersections over substantial widths, both validating existing historical results, and defining new high-grade zones within the orebody: 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. Management envisage CentroGold to represent a low Capex investment requiring modest funding to deliver what is considered to be a substantial growth opportunity. Located in northern Brazil, CentroGold comprises of 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. Since the 100% acquisition of CentroGold in September 2017 the project has been aggressively advanced. Resources have been expanded and management continues to believe with increasing confidence that resources will continue to grow in terms of both grade and tonnes. To support resource growth, activities to date focussed on infill drilling at both Blanket and Contact. This phase of drilling has successfully upgraded and validated historical drilling. Work now continues re-classifying the current JORC MRE at Contact, to increase the quantum of Indicated resources to support the Scoping Study. | |
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