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Avanco increases contained gold ounces at CentroGold's Contact deposit by 37%

Contained gold ounces at the Contact deposit, part of Avanco Resources Ltd.'s CentroGold project in Brazil's Maranhão state, increased by 37%, while the gold grade increased by 34%.

The indicated and inferred mineral resource at Contact now stands at 8.2 million tonnes at 3.1 g/t of gold for 811,000 contained ounces. The CentroGold project now hosts inferred and indicated resources of 32.8 million tonnes at 2.1 g/t of gold for 2.2 million contained ounces.

Within the Contact deposit, the indicated resource increased 203% to 509,000 ounces at a grade of 3.6 g/t of gold.

The company said March 21 that it intends to complete a scoping study on the project as soon as possible.

The total resource estimate at CentroGold increased to about 2.0 million ounces in February after a 20% increase in the inferred and indicated mineral resources for the Blanket deposit.