Avanco Resources 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 0.3 gram per tonne 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 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 meters at 1.42% copper and 0.2 grams per tonne gold from 223 meters along with a higher grade intercept of 1 meter at 3.21% copper and 19.6 grams per tonne gold from 319 meters.

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 mineralization 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 0.2 grams per tonne gold for 85,000 tonnes of contained copper and 65,000 ounces of gold.

(Sourced from www.proactiveinvestors.com.au)