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Avanco Resources releases maiden inferred resource estimate for Pantera project

Avanco Resources Ltd. said March 19 that the resource base of its Carajás portfolio in Brazil rose to over 1 million tonnes of contained copper with the release of a maiden inferred resource estimate for the Pantera copper project.

The project is estimated to host inferred resources of 20.8 million tonnes at 1.7% copper and 0.2 g/t of gold for 350,000 tonnes of contained copper and 140,000 gold ounces. This boosts the total inferred, indicated and measured resource for Avanco's Carajás portfolio to 58.3 million tonnes at 1.7% copper and 0.3 g/t of gold for 1.01 million tonnes of contained copper and 666,100 ounces of gold.

A 5,000-meter drill program is underway at Pantera, aiming to infill historical 200-meter spaced sections and to test the property's eastern strike extension.

Avanco has the option to acquire Pantera from Vale SA under a deal signed in January. Avanco's Carajás portfolio includes its Pedra Branca and Antas copper projects.