buying big, page-19

Gday CW.

Is this it? From Dec. 09 quarterly

130 metres at 0.09% Nickel from 282 metres.

http://www.avancoresources.com/pdfs/QuarterlyActivitiesReportDec09Quarter29Jan10.pdf

I posted about the Ni before; only did 4 holes due to the weather (430m total) & it ended up too low grade & called uneconomical.
Doesnt mean there isnt a nice Ni deposit there, but will need lots more drilling to find it & I suspect, as weve said before, Cu all the focus now as it takes them to cash positive next year.

Cheers,
Ned, at the beach house on an absolute cracking day - 28c.


HIGHLIGHTS
First Touro Nickel drill hole, TSD01, intersected 130 metres at 0.09% nickel and confirmed the existence of sulphides and significant widths of nickel mineralisation.
Subsequent geophysical Induced Polarisation (IP) anomalies have been identified over a four kilometre trend. These show strong chargeabilities typical of sulphide mineralisation.
Soil geochemistry has identified a significant trend of anomalously high nickel and platinum associated with the IP anomalies, numerous high priority drill targets have been identified at the Tour Nickel Project.


TOURO NICKEL PROJECT
In October the Company completed its first diamond drill hole for 430.1 metres at the Touro Nickel Project in the Carajas region of northern Brazil. TSD-01 intersected:
130 metres at 0.09% Nickel from 282 metres.
The drill intercept is hosted within a meta-pyroxenite and indicates that significant widths of nickel mineralisation are present within the
Touro Sill. The Company considered this early drilling result as highly encouraging and continued with geophysical and geochemical activities.
An extensive program of geophysical and geochemical surveys have now been completed with results interpreted to be extremely positive.
INDUCED POLARIZATION
The Touro Sill was covered by a 200 metre line spaced dipole-dipole IP survey. In most lines, very strong chargeabilities, coincident with low resistivities were detected. The majority of the stronger IP anomalies are coincident with anomalous nickel and platinum in soils. Evaluation of this data suggests that the IP responses may be related to the existence of sulphide mineralization. These are considered high priority drill targets.
GROUND MAGNETICS
A ground magnetic survey was undertaken across the entire Touro Sill. This has defined a four kilometre long magnetic anomaly trending east-west to east-northeast.
SOIL GEOCHEMISTRY
The project area was sampled on a 200m x 50m grid with samples being assayed for multi-elements by ICP analysis. The extensive nickel anomalous trend was also assayed for platinum group metals by fire assay. The results from the geochemistry indicate the existence of an extensive nickel soil anomaly with values >1,000ppm nickel and peaks of up to 2,000ppm nickel. The anomalous area extends for over four kilometres along the same east-west to east-northeast orientation and aligns well with the magnetic trend. Evaluation of the platinum results show that 33% of the samples were >9 ppb platinum, with peaks of up to 38 ppb platinum. This outlines a major east-northeast platinum anomaly 3,200m long x 200m - 400m wide. Platinum shows
a strong correlation with nickel. It is also evident that the higher platinum values are coincident with the higher IP chargeability anomalous trend. This further supports the Company view that the IP anomalies may reflect the presence of underlying nickel sulphide mineralisation and continues to highlight the geological similarities to Mirabela Nickels giant Santa Rita Nickel Project in the northeast of Brazil. The Company is expediting drilling rigs in anticipation of drill testing these targets in the coming months.
The Touro Nickel Project is located within the boundaries of the Trindade South property which comprises four contiguous tenements amounting to ~15,000 ha held by AVB Mineracao Ltda, a Brazilian subsidiary of Avanco Resources Limited. The property is located within a very prospective part of the Carajas region approximately half way between Vale's Ounca-Puma nickel mine and the Vermelho nickel deposit. One of the worlds largest undeveloped iron ore deposit, Vale's Serra Sul, is just a few km's north of the Trindade South property.