🕐11.03.10 - 05:20 Uhr

Avanco Resources [ASX: AVB] - Drilling commenced at the Touro Nickel Project, Brazil



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Avanco Resources [ASX: AVB] - Drilling commenced at the Touro Nickel Project, Brazil

Avanco Resources (ASX: AVB) has commenced a 2,000m diamond drilling program at its 100% owned Touro Nickel Project in the Carajas Province of Brazil.

The drilling programme will test the coincident nickel, platinum and Induced Polarisation (IP) anomalous trends across the Touro Sill.

HIGHLIGHTS:

* Drilling has commenced at the Touro Nickel Project in Carajas Province of Brazil.
* The Company has identified numerous high priority targets to be tested with a 2,000m diamond core drilling programme.
* 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.
* Previously reported drill hole, TSD-01, intersected 130 metres at 0.09% nickel and confirmed the existence of sulphides and significant widths of nickel mineralisation within the Touro differentiated sill.

Importantly, TSD-01 was drilled outside the IP anomalies.
* The Company has recently announced a fully underwritten non renounceable entitlements issue to raise $5,112,324.
* Avanco is now in a strong position to: aggressively explore for nickel sulphide at its Touro Nickel Project, to develop the Rio Verde High Grade Copper Project and to pursue additional new growth opportunities in Brazil.

Please refer to attached announcement for more.

For further information, please contact:

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

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


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