Avante Mining Corp. [AVA-TSXV] has intersected a 24-metre interval with visible sulphides and visually identified pentlandite, a nickel sulphide, at the company’s Voisey’s West nickel project. The project is located in the same intrusive complex as the nearby Voisey’s Bay mine and 70km west of the town of Nain, Labrador, Canada.
Highlights: First drilling into new zone visually identified nickel sulphide in pyrrhotite, 30 metres north of the northernmost drill intersection with significant sulphides to date; 2.5km trend containing multiple high-grade nickel zones.
340 metres north of drillhole intersection showing 14 metres at 1.02% nickel, 0.51% copper and 0.03% cobalt (08-AA-60); 950 meters north of drillhole intersection showing 5 metres at 1.28% nickel, 0.52% copper, and 0.03% cobalt (08-LP-55).Multiple targets remain open for expansion and show potential for additional new discoveries. Magmatic nickel sulphide style of mineralization, similar to Voisey’s Bay.
Adrian Smith, CEO, commented, “With this new discovery, we have validated our structural and geophysical exploration model and are excited to continue with further drilling on this and additional untested targets.”
The new drill hole (VW-23-03) has discovered a new zone of mineralization 30 metres north of the No Baccy zone. The hole is drilling away from previous holes NB-08-64 and NB-08-65 which intersected 1 meter of 1.47% Nickel, 0.28% Copper, 0.03% Cobalt, and 1 metre of 1.2% Nickel, 1.04% Copper, 0.03% Cobalt respectively. The new hole is testing a VTEM conductor and is the furthest north drillhole on the Project to identify significant sulphides mineralization in drilling to date.
The bottom contact of the mineralized interval in hole VW-23-03 is at 45 degrees to core axis, however the true thickness or extent of the zone is not known, additional drilling will aim to better define the orientation and extent.
Adrian Smith continued, “Magmatic sulphide ore deposits are known for being some of the world’s most valuable metal accumulations and become physically concentrated within magma reservoirs and flow pathways. At Voisey’s West, we believe we are seeing evidence of these pathways, which by their nature are deep seeded conduits potentially connected to magma chambers with additional accumulation at depth. We are excited to discover a new previously unknown zone near surface and believe there is much more to be discovered at Voisey’s West.”
The Voisey’s West is located 50km from, and within the same intrusive complex and geological setting as the world class Voisey’s Bay nickel mine.
Following the discovery of Voisey’s Bay deposit, enhanced regional prospecting led to the discovery of three pyrrhotite-chalcopyrite-pyrite-pentlandite showings located on the Voisey’s West, namely, the Long Pond, All-About-It and No Baccy. Initial surface grab samples from the Long Pond and All-About-It showings returned up to 1.36% Nickel and 0.58% Copper, and 1.05% Nickel and 1.53% Copper respectively. Continued work led to the identification of a primary mineralized corridor occurring over approximately 2.5 km and multiple high-grade nickel drill intersections up to 14 metres of 1.02% Nickel, 0.51% Copper and 0.03% Cobalt.
The company also announced that its shareholders approved all resolutions, including the ratification of the Company’s rolling stock option plan, at the annual general meeting of shareholders held on May 2, 2023.
