ASX-listed Avenue Resources has reported the first results of a 2,000 metre drill programme at the San Lourenco project in Rondonia state, Brazil. The project consists of 3,408 hectares located 200 kilometres from Porto Velho and was a centre of small scale alluvial mining in the 1970s and 1980s. Previous exploration work carried out by Lara Exploration in 2007 – 2008 identified two areas of significant primary tin mineralisation with grades of 0.61% tin in adjacent granite hills (Serra Irene and Serra Isaac) within the area which had been mined. The first new drill results returned grades between 0.31% and 1.51% tin. Avenue has an agreement that will allow it to acquire 100% of Lara’s option rights to the project for a mix of shares, cash and royalties.
The company is planning a wider regional exploration programme at San Lourenco covering covered and unexplored granites and has also commenced geological fieldwork in the Ariquemes region of Rondonia, which is the site of the Bom Futuro garimpeiro mine. This North Brazilian project covers 36,643 hectares. Avenue says it is also investigating other opportunities in Rondonia and other Brazilian provinces.