Avanco Resources Antas Copper Project on Track for Commercial Production

- June 9th, 2016

Avanco Resources Limited (ASX:AVB) announced the following update on commissioning activities at the Antas Copper Mine, where progress towards steady-state production and sales is very encouraging.

Avanco Resources Limited (ASX:AVB) announced the following update on commissioning activities at the Antas Copper Mine, where progress towards steady-state production and sales is very encouraging.
As quoted in the press release:

STRONG START TOWARDS COMMERCIAL PRODUCTION

  • Ramp-up well on track to steady-state operations of 1,000 tonnes per month of copper in concentrate
  • Mining activities delivering tonnes and grade to plan
  • Flotation performance confirms simple ore mineralogy
  • 2,646 tonnes of copper and 1,728 ounces of gold produced1,2
  • 2,120 tonnes of copper and 1,288 ounces of gold shipped1,2
  • 288 tonnes of copper in concentrate stockpile2
  • Provisional invoices for US$8.5m received with a further US$1.8m outstanding
  • Balance sheet remains strong, debt and covenant free

The Antas mine is delivering a strong performance with copper and gold production exceeding expectations for the April to May period. Open pit operations continued to plan in terms of both grade and tonnes extracted. Grade control results continue to reconcile well with the resource model.
Early difficulties experienced with oversize ore have been mitigated following refinements to drill and blast practices.
Plant performance during the period has been encouraging with 95,660 tonnes assaying 2.3% copper and 0.5g/t gold milled for the April to May period. Flotation recoveries continue to improve and typical teething problems remediated.
Sales and logistics are working well with 10 shipments of copper concentrate already delivered to customers with another shipment in transit.

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