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Project Overview
In 2007 Avanco compiled a portfolio of two exploration projects, the Carajas Copper Project and the Central Brazilian Gold Project located in the Brazilian states of Para and Goias.
The Carajas Copper Project
The Carajas Copper Project (CCP) is located in the Carajas Mineral Province that hosts numerous world class copper-gold deposits which are generally of the iron-oxide-copper-gold (IOCG) genesis and the region is considered very prospective for the discovery of new copper-gold, nickel and iron ore deposits.
The CCP includes the 9,000ha Rio Verde Property near the Carajas regional capital of Parauapebas. This property is the focus of the company and we are exploring for near surface copper oxide.
In April 2008 Avanco’s drilling results confirmed the discovery of a significant copper oxide deposit at the Antas South target on the Rio Verde Property. The Antas South Deposit is one of six copper mineralised zones on Rio Verde. The company is now moving to full drill out of the Antas South Deposit with the aim of generating a JORC compliant resource. Drilling will be ongoing during CY 2008 as the Company further tests this and other targets on Rio Verde.
Avanco is now well established in the Carajas and is firmly focussed on the development of shallow, open pit and potentially free digging copper oxide deposits that are amenable to the less expensive heap/vat leach-SX-EW technologies.
Central Brazilian Gold Project
The Company’s Central Brazilian Gold Project is located 140km north of the state capital of Goiana, overlies a greenstone belt within a Proterozoic mobile belt, a highly prospective environment for gold and base metal mineralisation. The total tenement area either approved or under application is 44,000ha. The areas are considered prospective for base and precious metals. Avanco’s tenements include the Rio Uru property within which there is an 8km long gold in-soil anomaly which will be investigated further.
Other Brazilian Mineral Provinces
Avanco has also identified lead, manganese and iron opportunities in other Brazilian mineral provinces. These projects were for the most part investigated early in 2008 and their potential has yet to be confirmed. The respective tenements are still in the “application phase” with the Brazilian regulatory authorities, however Avanco’s subsidiary Avanco Resources Mineracao has “priority rights” over those areas.
