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Market:	ASX
Sector:	General Mining
EPIC:	AVB
Latest Price:	0.07 (0.00%)
52-week High:	0.13
52-week Low:	0.06
Market Cap:	68.40M

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Avanco Resources

Avanco Resources (ASX: AVB) is a Brazil-focused exploration and development company. The company is developing the high grade Rio Verde Copper Project and exploring for nickel sulphides at the Touro Nickel Project. Both projects are located in the world class Carajas Mineral Province in northern Brazil.

Avanco is focusing on a pipeline of copper projects on the Rio Verde property and is targeting a 100Mt copper resource portfolio.

Avanco Resources triples Rio Verde JORC copper Resource, adds gold credits

Wednesday, February 08, 2012 by Christine Feary

Avanco Resources (ASX: AVB) has tripled the JORC Resource for its Rio Verde Copper Project in Brazil, with an accompanying increase in overall copper grade and the addition of significant gold credits.

A maiden Resource for the Antas North deposit and a Resource upgrade at Antas South have led to the tripling of the global mineral Resource at Rio Verde.

The Resource now sits at 17.77 million tonnes at 1.17% copper and 0.3g/t gold for a total of 209,000 tonnes of copper and 171,0000 ounces of gold.

At Antas North, a maiden JORC Resource has been defined, comprising 7.69 million tonnes at 1.6% copper and 0.43 grams per tonne (g/t) gold, for a total of 124,000 tonnes of contained copper, and 106,000 ounces of gold.

Last month results from drilling at Antas North were released, with a broad intersection of 79.75 metres at 1.42% copper and 0.2g/t gold from 223 metres, along with a higher grade intercept of 1 metre at 3.21% copper and 19.6g/t gold from 319 metres.

The delineation of a maiden JORC Resource at the Antas North Deposit is a big step towards Avanco’s goal of building a large, long life copper mine.

Importantly, the company believes there is potential to identify additional resources at Antas North.

Three rigs are in operation testing depth and strike extensions and proximal variable time electromagnetic domain targets.

Already the company has identified the continuation of mineralisation in two holes to the east of Antas North.

Meanwhile, the mineral Resource at the Antas South deposit has increased more than 25% to 10.8 million tonnes at 0.83% copper and 0.2g/t gold for 85,000 tonnes of contained copper and 65,000 ounces of gold.

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