Resource News

Avanti Mining Inc.(TSXV:AVT) announced the latest updates to the Kitsault project mineral resource statement. The new resource shows minor changes in tonnage, grade and contained metal since the 2010 mineral resource. The Company is now focused on developing the Kitsault mine.

Avanti Mining Inc.(TSXV:AVT) announced the latest updates to the Kitsault project mineral resource statement. The new resource shows minor changes in tonnage, grade and contained metal since the 2010 mineral resource. The Company is now focused on developing the Kitsault mine.

As quoted in the press release:

When compared to our Feasibility Study (2010) model, this resource update resulted in a tonnage increase of 95% in the measured category, or approximately 9.8 years at our anticipated production rate. There was an overall increase in tonnage of 7.7% and 7.0% in contained molybdenum within the Measured and Indicated categories. Most significantly, silver grades increased 13.8% over the 2010 estimate for an overall increase of 22.8% of silver metal in the Measured and Indicated categories.

Avanti, President and CEO, Craig J.Nelson, said:

The results released today continue to de-risk the project and confirm a very robust ore body at Kitsault and show promise of producing by-product silver that is not currently considered in the projects economics. We are presently evaluating the impacts of the new resource model on our Reserve Statement but an initial examination suggest it is very small. Based upon positive silver recovery tests, we are presently exploring the sale of a silver stream or forward to help provide us capital to satisfy Avanti’s share of equity required to construct the mine.

Click here to read the Avanti Mining Inc. (TSXV:AVT) press release


Click here to see the Avanti Mining Inc. (TSXV:AVT) profile

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