(MENAFN- ProactiveInvestors)
() has expanded exploration into the Kiruna greenstone belt surrounding its Viscaria Copper Project in Sweden.
While Avalon will still devote 90% of its effort to advancing the Viscaria project a broader search has the potential to deliver exploration upside in a highly prospective area.
The Kiruna region is home to Kiirunavaara – the world’s largest underground iron ore mine.
Already Avalon has used drilling at West Nukutus to identify an iron-oxide and shear related copper mineralised system that requires further exploration.
Also potential A Zone style targets have been defined along strike northeast of Viscaria.
This is important as the A Zone deposit at Viscaria was previously mined by Outokumpu which included 12.5 million tonnes of ore at 2.3% copper over the period 1985 to 1997.
The Viscaria A Zone is a significant copper deposit in its own right and Avalon has defined several areas for further drilling aimed at increasing the current resource.
Malcolm Norris managing director commented:
“We are delivering a systematic approach to assessing the upside potential in the broader Kiruna mineral belt.
"Our strong focus remains on the Viscaria development opportunity with drilling to grow the current resource base but we want our shareholders to be well aware of the potential upside opportunities and our prudent approach to creating value from those opportunities."
Other exploration outcomes
- Reconnaissance exploration at Vazasvarri has confirmed an area of anomalous copper in peat bog samples with up to 0.52% copper.
- A comprehensive review of all exploration geochemical data has commenced to define new targets on a regional scale.
- A structural geological review is underway to better understand the structural context for the Viscaria deposits and to prioritise other targets.
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