AVM 7.69% 2.4¢ advance metals limited

Anyone had a chance to read through the Activity Update??? I had...

  1. 142 Posts.
    Anyone had a chance to read through the Activity Update??? I had a quick scan and it looks pretty good.

    Here is just a snippet.

    PERTH – Anvil Mining Limited (TSX, ASX: AVM) is pleased to announce that the Dikulushi mining and processing operations have outperformed in all areas through the September 2005 quarter, as previously indicated, following the full re-accessing of the main orebody and the commissioning of the second ball mill in the second quarter of 2005.

    The plant ran at an average throughput of 1,313 tonnes per day during the third quarter of 2005 reflecting an annualised rate of copper production of 22,500 tonnes. This daily rate is expected to be maintained during the fourth quarter of 2005 and for some time beyond. Planning for Stage III underground mining below a re-scheduled 150 metre open pit depth has commenced and development of this transition phase is expected to commence during the first half of 2006.

    As previously announced, on July 30, 2003 and July 28, 2004, results from deep drilling programs carried out during 2003-2004 under the current open pit extended the known mineralisation to a vertical depth of approximately 300 metres from surface. These drilling programs returned intersections of 25.4 metres of 12.1% copper and 404 g/t silver at a vertical depth of 143 metres, 10.3 metres of 16.6% copper and 506 g/t silver at a vertical depth of 157 metres and 14.8 metres of 16.3% copper and 355 g/t silver at a vertical depth of 293 metres. Additional infill drilling is expected to be commenced before the end of 2005.
 
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