Regional exploration targets

Avanco has been in the Carajás for almost a decade. As a pioneer in the region, the company has benefited from a first mover advantage, resulting in the pegging of some of the best ground, which today amounts to the second largest project and exploration tenement holding in the region with over 1.800 square kilometres.

In March 2017, Avanco announced a $10.6 million budget to advance exploration and projects. This included almost $1 million for regional exploration.

Following the purchase in late 2016 of the Terrestrial Electromagnetic (TEM) geophysical survey equipment and an extensive training programme provided by consultants, the Company’s in-house TEM team is aggressively advancing all known targets in the portfolio, starting in and around the Antas mine environs. The TEM team will operate full-time through 2017. The budget includes an allowance for a second TEM equipment which has been received, and additional discretionary funds may be made available for drill testing of high conviction targets if they are generated.