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Avanco ups resource at CentroGold to 2 million ounces

Avanco Resources Ltd.'s contained resource at the Blanket deposit, part of its CentroGold project in Brazil, increased about 20%, taking the project's total resource estimate to about 2.0 million ounces.

The inferred and indicated mineral resource estimate for the Blanket deposit increased to 13.3 million tonnes at 1.9 g/t of gold for 829,000 contained ounces, the company said Feb. 7.

For the CentroGold project, the inferred and indicated mineral resources now stand at 32.6 million tonnes at 1.9 g/t of gold containing about 2.0 million ounces, compared to the previous estimate of 31.5 million tonnes at 1.8 g/t of gold for 1.86 million contained ounces.

Assays from drilling at the Contact deposit are expected soon, following which the company will complete the scoping study for CentroGold.