Avalon Minerals (ASX:AVI) has highly anticipated results ahead from drilling at its Viscaria Copper Project in northern Sweden that will contribute to an updated high grade copper only Resource estimate.
Already, the company has intersected high grade copper outside the existing resource area in the Viscaria D Zone and an apparent iron oxide copper system at the Nihka target.
Further drilling will be carried out before the Resource estimate is made later this year. This will be followed shortly by a Scoping Study.
The company is well funded for its exploration program with the recent $2.1 million placement adding to cash of $3.4 million as at 31st March 2015.
Managing director Malcolm Norris will present at Proactive's Sydney, Melbourne Investor Luncheons in June.
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Proactive's Sydney Investor Luncheon, Tuesday 2nd June.
Proactive's Melbourne Investor Luncheon, Wednesday 3rd June.
Viscaria Copper Project
The Viscaria project is located in an infrastructure rich Kiruna region, which is home to Kiirunavaara – the world’s largest underground iron ore mine.
Viscaria currently has a resource of 63.86 million tonnes at 1.05% copper using a 0.4% copper cut-off.
The focus on a high grade copper only development could potentially be low cost (circa $100 million) and require just simple mining and beneficiation to produce high quality concentrates.
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