Avalon Minerals Limited (ASX: AVI)
Via the recent addition of a highly prospective gold-copper project, Avalon Minerals (ASX: AVI) is now the only ASX junior to provide investors exposure to Ecuador’s untapped resource potential.
AVI has just signed an earn-in agreement in regards to the Bramaderos gold-copper concession in southern Ecuador.
The project puts AVI in good company with the likes of BHP, Newcrest and Fortescue also seeing the potential of the region, as this once closed off country opens its doors to foreign investment and becomes a mining friendly jurisdiction with solid infrastructure.
Importantly for AVI, Bramaderos contains fertile mineralised systems with strong potential to host a world class discovery.
The AVI team behind the Bramaderos move was responsible for major discoveries including the giant Tujuh Bujit and Cascabel copper gold discoveries and are hoping for similar success in Ecuador.
However, AVI is also still working diligently towards positive results at its existing projects in Sweden and Finland where ongoing drilling and results continue to flow in.
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Geophysical survey results at AVI’s Southern Finland Gold Project’s Satulinmäki prospect and have exceeded expectations, highlighting the potential for a large gold system, while in northern Sweden, AVI has commenced diamond drilling at its 100% owned Viscaria Copper Project with assay results due imminently.
With plenty of newsflow to continue for the $9.7 million capped AVI through at least the rest of this year, AVI looks to be tracking nicely towards its goal of production and commercialisation of its assets.