EXCEPTIONAL EARLY
RESULTS FROM RESERVE
DRILLING PROGRAMME
The Company is extremely pleased to advise the successful ramp up of the
Stage 1 (Antas North) drilling programme with five drilling rigs now
operational. Early drill holes have returned abundant visible copper
mineralisation recorded over substantial intersects from near surface. A visual
inspection of the drill core re-affirms and validates the Company’s strategy for
rapid implementation of the Antas North Copper Mine.
HIGHLIGHTS
Holes AAND-67 and 68 intersected the orebody1 close to surface as was
interpreted, high concentrations of Chalcopyrite (primary Copper
mineral) over significant widths were logged accordingly:
• AAND-68 (total depth 90.80m) intersected 83.35m (~64m True
Width) of mineralisation from surface, including 58.75m (~45m
True Width) of Sulphide mineralisation from 24.60m (~19m True
Depth).
• AAND-67 (total depth 75.65m) intersected 56.30m (~43m True
Width) of mineralisation from surface, including 33.95m (~26m
True Width) of Sulphide mineralisation from 22.35m (~17m True
Depth).
This part of the orebody (Section 637,850E) is significantly wider near
surface than delineated in earlier 50m spaced drilling. Importantly it
hosts near surface (previously concealed) higher concentrations of
copper mineralisation (photos AAND-068, 071) and was until now a
location not considered a priority for sourcing early mine production
Following these discoveries an additional 25m infill drill section
(637,825E) was added further West (photos AAND-072, 074), where
mineralisation appears to be improving, i.e. hole AAND-074 including
5.10m of massive sulphide Chalcopyrite
These (shallow) holes confirm the continuation of the orebody close to
surface and presents new opportunities for optimisation of the open pit
model
Three diamond rigs continue to progress the 25m x 25m resource /
reserve drill out of Antas North, 861m of the planned 2,005m has been
completed
While management maintains the view that infill drilling should show
“more of the same”, geological observations (for the opening ~40% of
the programme) significantly exceed expectations for the western side
of the deposit
Two bespoke geotechnical drilling rigs are currently testing
engineering / soil mechanics proximal to the proposed tailings dam and
plant footprints. Although still at an early stage, the presence of near
AVANCO RESOURCES LIMITED
AAND-067. Pictured from
True Depth: ~38.00m
AAND-067. Close-up
Breccia Matrix
Mineralisation
surface “competent basal rock” has been identified, a feature
considered highly desirable for sound dam design and operation
Condemnation drilling aimed at sterilising areas nominated for
construction continues using all three of the Company’s Power Auger
rigs
The Open Pit Geotechnical diamond drill programme will be
undertaken on completion of the resource / reserve programme
Early observations have exceeded management expectations. Following
comprehensive on site management discussions, the Directors have approved
the Company’s first development expenditures aimed at securing long lead
plant and equipment for the development of the Antas North Copper Mine.
Tony Polglase
Managing Director
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