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Avanco ups CentroGold mineral resource to 1.3 million contained gold ounces

The mineral resource at Avanco Resources Ltd.'s CentroGold project in northern Brazil increased to approximately 1.3 million ounces of gold with the new estimate for the Contact zone, located within the Cipoeiro deposit.

In December 2016, the company estimated an initial resource estimate for the Blanket zone, also part of the Cipoeiro deposit, comprising 12.2 million tonnes at 1.8 g/t of gold for 694,000 ounces in the inferred category.

The Contact zone estimate stands at 8 million tonnes at 2.3 g/t of gold for 592,300 contained gold ounces in the inferred category, according to a Jan. 19 release.

The CentroGold project's total resource now stands at 20.2 million tonnes at 2.0 g/t of gold for about 1.3 million contained gold ounces, all in the inferred category.

Avanco now plans to evaluate the entire Cipoeiro deposit with a scoping study, which is expected to be completed in the March quarter.