Avanco: 9.0 metres at 50.49% Copper from 18 metres

Heißer Kupferexplorer , KAP:126 Mio AUD dürfe noch Potential besitzen


MAJOR DRILLING PROGRAMME COMMENCED
The Company is very pleased to advise that drilling has commenced on the 50,000m exploration programme over its Copper and Nickel Platinum Projects in the Carajas Province of northern Brazil.
The initial focus of the programme will be directed at drilling out and extending the high grade copper discovery at the Antas South Deposit, (located within the boundaries of the Rio Verde Project) where previously announced1 drilling intersected:
9.0 metres at 50.49% Copper from 18 metres
2.05 metres at 42.68% Copper from 49 metres
Activities will ramp up in early 2011 with the mobilisation of additional drilling rigs to expand and accelerate the proposed drill programme:
Antas South Copper Deposit (drill out and extensions): 25,000m
Rio Verde Project (new copper targets): 10,000m
Serra Verde Project (copper targets): 5,000m
Regional copper targets (new projects): 5,000m
Nickel and platinum targets: 5,000m Total Drilling 50,000m
The comprehensive and multi target programme has been planned to realise maximum value from the Company’s assets. Avanco intends to secure additional drilling capacity over and above the three drilling rigs scheduled for early 2011.
CORPORATE
The Company has secured firm commitments from overseas and local subscribers to participate in a placement by which the Company will raise $20 million. The first tranche for of $4.27m has been received with the balance conditional on shareholders approving at a General Meeting of the Company to be held on the 13th December 2010.
Completion of the placement will place Avanco in an enviable and strong financial position to undertake exploration and development programmes over its copper and nickel platinum projects. The Company expects significant news flow over the coming months.
Tony Polglase
Managing Director

Incl. 1.70m at 16.04% Copper from 51.00m
And 10.00m at 1.06% Copper from 59.00m
Incl. 1.20m at 5.15% Copper from 60.00m
* 5.00m at 5.87% Copper from 72.90m ARVD-154
* Deep drilling at Antas South has resumed and currently intersecting
ore grade mineralisation along strike from ARVD-1464.
These results1 show that deeper drilling at Antas North is intersecting
increasing lengths of primary sulphide mineralisation, and supports the
potential presence of a large primary Iron Oxide Copper Gold (IOCG) system.
Drilling will continue to follow mineralisation down plunge and along strike
to the southwest. The Company has interpreted that this trend could intersect
the Antas South trend at depth. Additionally infill drilling (see drill core on
left5) has commenced to enable resource estimation
At Antas South the latest drilling results include 4.70m at 9.31% Copper
from 48.00m (ARVD-141) and have confirmed the strike length of the HGZ
to exceed 520m3 and to remain open on strike. Additional results include:
* 1.15m at 9.00% Copper from 43.00m ARVD-139
And 0.85m at 10.60% Copper from 114.85m
And 6.50m at 3.87% Copper from 143.00m
And 3.60m at 5.97% Copper from 156.15m
* 42.15m at 0.96% Copper from 2.00m2 ARVD-139
Incl. 17.15m at 1.80% Copper from 27.00m2
* 4.70m at 9.31% Copper from 48.00m ARVD-141
Incl. 1.70m at 16.04% Copper from 51.00m
And 10.00m at 1.06% Copper from 59.00m
Incl. 1.20m at 5.15% Copper from 60.00m
* 1.50m at 5.94% Copper from 145.55m ARVD-149
* 5.00m at 5.87% Copper from 72.90m ARVD-154
Incl. 1.00m at 10.30% Copper from 74.00m
Incl. 0.90m at 10.25% Copper from 77.00m
Recent deeper drilling at Antas South intersected a 31m wide ore zone
reported previously as4:
ARVD-146
* 31.0m at 1.40% Copper and 0.1g/t Au from 171.0m
Incl. 6.15m at 2.54% Copper and 0.17g/t Au from 175.0m
Incl. 12.2m at 1.89% Copper and 0.13g/t Au from 189.8m
Incl. 2.2m at 5.47% Copper and 0.16g/t Au from 189.8m
Drilling at Antas South is currently testing underlying sulphides, where a new
hole collared 50m west and on strike of ARVD-146 has already intersected ore
grade mineralisation. This supports continuity along a trend in the direction of
an EM anomaly at the western end of Antas South.
To enhance the targeting of primary IOCG sulphides, a helicopter VTEM
(Electromagnetic) survey will commence in the coming weeks. The survey
will cover the key Rio Verde trend and test for:
* Deep primary sulphides at Antas North
* Definition/continuation of sulphide mineralisation below Antas South
* Primary sulphide targets along the Rio Verde trend
Tony Polglase
Managing Director
1. Additional results are expected from AAND-14, mainly from lower priority parts of
the hole but also from a significant thickness of near surface oxide mineralization.
2. Copper mineralisation mainly composed of oxides.
3. ASX Announcement “High Grade Strike Length Doubles at Rio Verde” 11 July
2011.
4. ASX Announcement “Rio Verde Deep Drilling Update” 9 September 2011.
5. Drill holes in progress and/or results pending.
6. “Matrix” – relates to sulphide development which has progressed to the point where
it is the “cement” that holds the brecciated (broken) rock together to make a
patchwork of rock pieces and sulphide, thus sulphide is a significant portion of the
sample. This is generally far more sulphide volumous than disseminated sulphide,
but is less than massive sulphide.