🕐06.04.10 - 07:57 Uhr

Avanco Resources [ASX: AVB] - Brazil exploration udpdate



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Avanco Resources [ASX: AVB] - Brazil exploration udpdate

Avanco Resources (ASX: AVB) updates the market on its nickel, copper and gold exploration in Brazil.

Highlights:

* The Company has entered into a binding letter of intent to acquire the Guapore Nickel Copper PGM Project.

The Project is situated in a highly prospective region for the discovery of new nickel sulphide deposits.
* The acquisition of Guapore Project is a further expansion to Avanco�s portfolio of highly prospective nickel and copper projects.
* Drilling is well advanced at the Touro Nickel Project in the Carajas with assays expected in the coming weeks.
* Avanco is pushing ahead with the development scenario for the Rio Verde Copper Project and should soon be able to announce the granting of a Trial Mining Licence.
* The Company has recently announced a fully underwritten non renounceable entitlements issue to raise $5,112,323.

Details in the attached announcement.

For further information, please contact:

Tony Polglase
Executive Director
Tel: +61 8 9321 6600
E-mail:

Media:
Luke Dean
Fortbridge
Tel: +61 2 9331 0655
Mob: +61 414 535 433
Email:


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