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Avanco Resources Ltd.
Summary
| Project: | CentroGold | |
|---|---|---|
| Deposit: | Contact Zone, Blanket Zone | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 4/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 26-4-2017: Avanco Resources Ltd. announces a Resource Estimation report for its Contact Zone, Blanket Zone deposit at the CentroGold project. Mineral resource estimate for Contact and Blanket Zone of CentroGold project. Avanco Resources (“Avanco” or the “ | |
| Resources: | (Resource, I+I): 20.2Mt @ 2.0g/t Au for 1286000oz Au contained at Blanket and Contact Zone | |
| CP/QP: | [Resources]: Aaron Green (CSA Global Pty Ltd.) | |
| ABSTRACT: | Avanco Resources (“Avanco” or the “Company”) is pleased to announce upgraded mineral resource estimates (MREs) from the inferred to indicated category for the Contact and Blanket Zones at the CentroGold Project1 (“Project”). The Cipoeiro Deposit within the CentroGold Project consists of two separate zones; the Contact Zone and the Blanket Zone, for which a maiden JORC 2012 inferred category mineral resource estimate was reported, totalling over 1.2m ounces of gold at an average grade of 2.0 g/t. Re-classification of this into the higher confidence indicated category under JORC (2012) is now possible following the completion of a detailed QAQC study and analysis of all historical drilling and assaying and a site visit by the Company’s independent resource consultants, CSA Global Pty Ltd (CSA Global). Approximately 90% of resources at the geologically simpler Blanket Zone now fall in the indicated category. Approximately 25% of resources at the geologically more complex Contact Zone now fall in the indicated category. Indicated resources at the Contact Zone are present in an area of the deposit that has a more attractive grade, averaging 2.5 g/t gold. Overall, approximately 65% of resource tonnes at Cipoeiro are now in the indicated category. With the completion of work programmes required to reclassify existing JORC (2012) mineral resources, and more than 50% of resources classified in the indicated category, the Company is now able to complete a Scoping Study on the Project. CSA Global have been commissioned to independently complete the scoping study and this is expected to be completed in May 2017. | |
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