Avanco Announce Resource Upgrade Advances Pedra Branca Development Strategy

- May 26th, 2016

Avanco Resources Limited (ASX:AVB) announced that results from infill drilling have significantly increased confidence in the Pedra Branca East Mineral Resource.

Avanco Resources Limited (ASX:AVB) announced that results from infill drilling have significantly increased confidence in the Pedra Branca East Mineral Resource.
As quoted in the press release:

HIGHLIGHTS

  • The PB East Mineral Resource2 now stands at: 10.48mt at 2.8% copper and 0.7g/t gold
  • Greater than 70% reporting to the higher confidence Measured and Indicated categories
  • A maiden Measured and Indicated Resource2 of: 4.5mt at 2.8% copper and 0.7g/t gold for 129,000t of copper and 106,000oz of gold reported for the hangingwall high grade zone (“HW-HGZ”) at PB East3
  • The above is being targeted for pre-commercial development under the low-capex, accelerated, start-up strategy
  • The resource model highlights good continuity of the HW-HGZ, which averages approximately seven metres in thickness and affirms expectations of employing low cost underground mining methods
  • The updated resource model represents a key input for mine design and costing
  • Studies are well advanced evaluating the feasibility of an expandable 1,000t/day underground mining operation from the HW-HGZ
  • It is envisaged that initially ore will be transported to Antas for treatment facilitating a near term increment in Avanco’s copper production4
  • Management view a pre-commercial start-up as a prudent strategy in the current copper price environment. This approach keeps PB moving towards a near term development decision and can be readily expanded to a larger scale operation as market conditions improve

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