AVB - Avanco Resources
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TOURO NICKEL PROJECT
The first diamond core drill hole has been completed to a total depth of 430.1 metres at the Touro Nickel Project on the Trindade South Property in the Carajas Mineral Province in northern Brazil. The drill hole intersected a variably sulphide mineralised differentiated mafic sill. The Company is highly encouraged by this initial result and further geophysical and drilling activities are being planned. The drill core is currently being sampled and results will be available over the coming month.
Diamond core drilling tested a previously identified high order electromagnetic (EM) target. The Company is also planning additional EM surveys in addition to Induced Polarisation (IP) geophysical surveys to define further exploration drill targets across the sill. The sill has dimensions of approximately 5km x 1.5km and remains largely underexplored.
•
The Company has identified a significant nickel sulphide exploration target. This target is of a similar geological model to Mirabela Nickel’s giant Santa Rita Nickel Project also in Brazil.•
Compilation of previous exploration indicates that an extensive nickel soil anomaly is present
The first diamond core drill hole has been completed to a total depth of 430.1 metres at the Touro Nickel Project on the Trindade South Property in the Carajas Mineral Province in northern Brazil. The drill hole intersected a variably sulphide mineralised differentiated mafic sill. The Company is highly encouraged by this initial result and further geophysical and drilling activities are being planned. The drill core is currently being sampled and results will be available over the coming month.
Diamond core drilling tested a previously identified high order electromagnetic (EM) target. The Company is also planning additional EM surveys in addition to Induced Polarisation (IP) geophysical surveys to define further exploration drill targets across the sill. The sill has dimensions of approximately 5km x 1.5km and remains largely underexplored.
•
The Company has identified a significant nickel sulphide exploration target. This target is of a similar geological model to Mirabela Nickel’s giant Santa Rita Nickel Project also in Brazil.•
Compilation of previous exploration indicates that an extensive nickel soil anomaly is present
20002570 shares traded today! about 10 times normal volume.
up from 4c to 4.5 (15% gain) - closing on its high for the day - chartists would agree this is a very bullish signal.
announcement due any day now regarding nickel assay results and development of their high grade copper resource.
up from 4c to 4.5 (15% gain) - closing on its high for the day - chartists would agree this is a very bullish signal.
announcement due any day now regarding nickel assay results and development of their high grade copper resource.
The high grade copper resource alone is valued at much more than the current market cap. any news of a JV regarding the copper will see a flock of buyers joining the register. the nickel is the icing on the cake. Many traders bought in because of the initial drill assay result. It was not economic so they dumped it. The prospect is 5km x 1.5 km and people are dumping over a single hole! Once the dust settles, investors will once again see the fundamental value of AVB. Just give it time!
Worth a listen on BRR you will be amazed
i didnt realise the carracas is bigger than the pilbara region . when there nickel ground is proven up , which they seem to think could be bigger than mirabella resources , now thats sit up and take notice stuff and they havent even explored there iron ore ground lol
i didnt realise the carracas is bigger than the pilbara region . when there nickel ground is proven up , which they seem to think could be bigger than mirabella resources , now thats sit up and take notice stuff and they havent even explored there iron ore ground lol2,000m diamond core drilling program underway at the Rio Verde Antas Sth deposit hi-grade zone
previous drilling results incl up to 38m @ 7.49% Cu from surface [4m @ 50.6% Cu], 26m @ 5.47% Cu from 18m [4m @ 28.0% Cu], 20m @ 5.12% Cu from 13m [2m @ 34.1% Cu]
as at 30/07, 18 holes for 1,008m completed, with assay results pending
current jorc resource:
Rio Verde Project Antas Sth deposit jorc resource estimate, 7.977Mt @ 0.83% Cu for 66,100t Cu, using 0.3% Cu cut-off [6.254Mt @ 0.71% Cu indicated; 1.723Mt @ 1.27% inferred] – incl hi-grade zone, 0.21Mt @ 11.65% Cu for 24,400t Cu [0.089Mt @ 12.72% Cu indicated; 0.121Mt @ 10.87% Cu inferred]
avb
all projects are in Carajas mineral province, Brazil
current sp 0.021 (note over 200m oppies with exercise price @ 0.015)
current mc (fully diluted) approx $15.7M, cash in bank $4.5M
previous drilling results incl up to 38m @ 7.49% Cu from surface [4m @ 50.6% Cu], 26m @ 5.47% Cu from 18m [4m @ 28.0% Cu], 20m @ 5.12% Cu from 13m [2m @ 34.1% Cu]
as at 30/07, 18 holes for 1,008m completed, with assay results pending
current jorc resource:
Rio Verde Project Antas Sth deposit jorc resource estimate, 7.977Mt @ 0.83% Cu for 66,100t Cu, using 0.3% Cu cut-off [6.254Mt @ 0.71% Cu indicated; 1.723Mt @ 1.27% inferred] – incl hi-grade zone, 0.21Mt @ 11.65% Cu for 24,400t Cu [0.089Mt @ 12.72% Cu indicated; 0.121Mt @ 10.87% Cu inferred]
avb
from Jun qtr activities,
other projects include Touro Ni Project and Trindad Nth Fe Project (approx 10km from Vales N4-N5 Serra Nth Fe mine - biggest in world 6Bt @ 65% Fe)
all projects are in Carajas mineral province, Brazil
current sp 0.021 (note over 200m oppies with exercise price @ 0.015)
current mc (fully diluted) approx $15.7M, cash in bank $4.5M
ann out today
Vale, world's largest iron ore miner, have signed an option (for exploration and to potentially acquire) avb's trindade nth project
vale will undertake drilling program at trindade nth
US$2M payable for option for first 3 years
should jorc compliant resource (measured and indicated) result, royalty payments flow
max payments to avb, should vale proceed with option to acquire, capped at US$40M
further results from current drilling program at rio verde and new carajas transactions expected over coming months
Vale, world's largest iron ore miner, have signed an option (for exploration and to potentially acquire) avb's trindade nth project
vale will undertake drilling program at trindade nth
US$2M payable for option for first 3 years
should jorc compliant resource (measured and indicated) result, royalty payments flow
max payments to avb, should vale proceed with option to acquire, capped at US$40M
further results from current drilling program at rio verde and new carajas transactions expected over coming months
This company has alot going for them. Big rise today on this news.
The Company is very pleased to advise that it has taken receipt from Vale
S.A. (Vale) of an initial US$100,000 payment in consideration of the previously reported option agreement wherein Vale can exercise the right to acquire Trindade North from Avanco for up to US$40,000,000 arising
29 September 2010 from in-situ iron ore royalties and other qualifying fees.
Also the drill report from there other prospect due soon with more great result by the look of it.
The results for the pending drill holes assays are expected soon, with abundant copper mineralization having been already logged for
many of these holes. The Company is anticipating to be able to report
further results in the coming weeks.
The Company is very pleased to advise that it has taken receipt from Vale
S.A. (Vale) of an initial US$100,000 payment in consideration of the previously reported option agreement wherein Vale can exercise the right to acquire Trindade North from Avanco for up to US$40,000,000 arising
29 September 2010 from in-situ iron ore royalties and other qualifying fees.
Also the drill report from there other prospect due soon with more great result by the look of it.
The results for the pending drill holes assays are expected soon, with abundant copper mineralization having been already logged for
many of these holes. The Company is anticipating to be able to report
further results in the coming weeks.
Your 9.9c would look quite nice now( 8.8/9c would have been better). This little share has so much going for it. Great prospects, awesome drill result with more to come very soon. I brought this at 7c sold at 7.8, brought back in at 7c sold at 9.7. then i could resist/ or wait so i brought back in at 9.4. Was worried i would miss the jump up in price to ann. Glad to be holding these ones into next week.
2 months to the day, sp reaches .17
700% profit
still half of the drill results to be released
decision to mine by end of year
direct shipping Cu ore
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Hi Happytown.
AVBOB has tranformed my year.
Im surprised at the lack of chatter on this one.
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now up a little and running at 19.5! anyone any idea how high they could go??
