Avanco ups gold resource by 45%

13th November 2017 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed Avanco Copper has reported a 45% increase in the resource estimate at its Centro gold project in Brazil.

The company on Monday reported a maiden resource estimate of 11.3-million tonnes, grading 1.6 g/t gold for 577 000 oz of gold at the Chega Tudo deposit, taking the combined mineral resource estimate for the Centro project to 31.5-million tonnes, at 1.8 g/t gold for 1.85-million ounces.

“The increased resource estimate represents an exceptional increase in contained gold ounces, which underscores Centro as an advanced project with outstanding potential,” said Avanco exploration director Simon Mottram.

“This substantial expansion illustrates above typical industry average gold grades, with improved resource confidence, serving to enhance economics in forthcoming scoping and preliminary feasibility studies.”

The Chega Tudo deposit has now been included in the scoping study, which is scheduled for release in the first quarter of next year.