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Project: | Pedra Branca | |
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Deposit: | Pedra Branca East | |
Location: | Brazil | |
Commodities: | Copper-Gold | |
Date: | 8/3/2017 | |
Report Code: | JORC | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Mine Development | |
Report details: | 3-8-2017: Avanco Resources Ltd. announces an Exploration/Drilling Update report for its Pedra Branca East deposit at the Pedra Branca project. Drilling results incl. 18.9m @ 2.39% Cu, 0.62g/t Au from 454.7m. ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased | |
Resources: | (not mentioned in this report) | |
CP/QP: | [Overall Report]: Simon Mottram (Internal) | |
ABSTRACT: | ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to report that further to announcements on the commencement of a resource extension drilling program at the Company’s Pedra Branca Project1 , the first hole has been completed at Pedra Branca East2 and has confirmed that the orebody remains open along strike and returned attractive grades. APBD-17-64 is the first of a number of holes designed to test the strike extension of the Pedra Branca East orebody and has intersected the orebody approximately 70 metres along strike of the previous hole APBD-15-393 . The extension of resources along strike has the potential to increase and expand Pedra Branca East thereby further improving the project economics and mine-life. Director of Exploration, Simon Mottram commented: “I have long been confident that the Pedra Branca East orebody continues along strike and therefore I’m delighted that the first drill hole, as part of a total 5,000 metre drilling program at the project supports this. The results from this hole confirm both the continuation of mineralisation along strike and the characteristic high-grade zone, that is a significant feature of Pedra Branca East orebody. As further drill holes are completed, and additional mineralisation is interpreted, I believe the opportunity to expand resources is highly likely. This bodes well for the for the project economics as the definitive feasibility study progresses. Meanwhile, a second drill rig has arrived onsite and will be dedicated to metallurgical and geotechnical drilling and sampling, ensuring that the definitive feasibility remains on track. Technical work will include an independent review of the major capital costs, operating costs, and methodology, with a view to optimising the project economics and potentially reducing the ramp-up time outlined in the pre-feasibility study. | |
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