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Avanco Resources Ltd.
Summary
| Project: | CentroGold | |
|---|---|---|
| Deposit: | Contact Zone, Blanket Zone, Chega Tudo | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 11/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 20-11-2017: Avanco Resources Ltd. announces a Resource Estimation report for its Contact Zone, Blanket Zone, Chega Tudo deposit at the CentroGold project. Clarification of resource estimate details. ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) updates the market | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Resources]: Aaron Green (CSA Global Pty Ltd.) | |
| ABSTRACT: | ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) updates the market with the following addendum: Further discussion on the criteria used for classification of each category of mineral resource, Further discussion to give context to the mineral resource estimate and Further discussion and detail on the exclusion of the oxide material from the resource estimate. Preliminary pit optimisations were used to assist in classification of the Chega Tudo Mineral Resource. Based on these results, it was the opinion of the Competent Person that only mineralisation reporting above -70 mRL would be classified on the basis of ‘potential for eventual economic extraction’. In addition to the preliminary pit optimisations, classification of the Mineral Resource utilised numerous factors including: the quality of samples, density data, drill hole spacing, drill-hole surveying, historical nature of the drilling, sampling and assaying processes, and estimation quality. Geological block model sections which are unconstrained at depth by pit shells are generally misleading, not representative of what is potentially economically exploitable, more easily taken out of context, and not considered material to the reporting of an Indicated-Inferred Mineral Resource Estimate. | |
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