Avanco pushes CentroGold project towards 2Moz

Brazilian-focused miner Avanco has delivered a 20 per cent increase in gold ounces at its CentroGold project in Maranhão State.

Avanco’s inferred and indicated mineral resource estimate (MRE) at the Blanket deposit at CentroGold has risen to 13.3 million tonnes (Mt) at 1.9 grams a tonne (g/t) of gold containing 829,000 ounces (oz).

According to Avanco, recent work at the Blanket deposit has resulted in a 10 per cent increase in grade and a 9 per cent increase in tonnes, for an improvement in contained ounces of around 20 per cent.

The Blanket deposit update takes Avanco’s inferred and indicated MRE for the CentroGold project to 32.6Mt at 1.9g/t, hosting 1.999Moz of gold. The project also includes the Contact and Chega Tudo deposits.

Avanco managing director Tony Polglase said the incremental size and grades reported to date were encouraging and increased confidence in the CentroGold project.

“A scoping study is targeted for completion during the first quarter 2018 and will examine the feasibility of mining the Blanket, Contact and Chega Tudo deposits,” Polglase said.

“Whilst management had initially anticipated completion of the study in ate 2017 difficulties associated with the drilling contractor’s performance introduced delays that have since been compounded by the start of the rains.”

Avanco envisages traditional open pit mining of free milling ores using carbon-in-leach (CIL) gold extraction, potentially preceded by floatation pre-concentration, at CentroGold.

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