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Avalon Minerals Finds Large Copper Anomaly At Swedish Project

Sweden-focussed Avalon Minerals (ASX:AVI) has discovered a significant copper anomaly with supporting gold anomalism through bedrock auger sampling over the West Nukutus magnetic target.

Copper anomalism has been defined over an area of 1 kilometre by 300 metre area and is open along strike, and to the west, with visible chalcopyrite was identified in 18 of 49 auger holes.

The peak response delivered up to 0.5% copper.

The West Nukutus exploration target located 5 kilometres north-east of the company's Viscaria copper deposit in Sweden.

The next steps include diamond drilling at the West Nukutus target.

Malcolm Norris, managing director, commented: "This is a very significant result for our near mine exploration program.

"We are systematically defining and testing targets within 5km of the Viscaria project.

"We have identified and completed first pass drilling on 2 targets and delivered 2 areas of anomalous copper at Nihka and West Nukutus."

The West Nukutus results are particularly prospective, defining a large copper anomaly with locally up to 0.5% copper.

Norris added: "We will accelerate our work here with the aim of delivering a discovery.

"We are excited by these results and by what the Viscaria district may deliver with a disciplined focussed exploration effort."

The Viscaria Copper Project in Sweden's infrastructure rich Kiruna region, is home to Kiirunavaara - the world's largest underground iron ore mine.

Viscaria currently has a large resource base of 63.86 million tonnes at 1.05% copper with a magnetite resource of 35.3 million tonnes at 29.1% iron.

Avalon aspires to be a long term 20,000 plus tonne per annum copper producer within four years.

Multiple high priority targets

Avalon's recent exploration program has identified at least five high priority exploration targets within a radius of 5 kilometres from the main Viscaria deposits.

Several other lower priority targets have been defined for further work. Follow-up programs include additional auger drilling to bedrock, further ground magnetics and electrical geophysics, and diamond drilling where warranted.

Existing local infrastructure

Viscaria is strategically located, and well-supported by existing infrastructure, including:

- Kirunatown population 20,000, skilled workforce.
- Sealed national highway to mine gate.
- Electrified public access rail to mine gate.
- Abundant Low Cost Power Supply ~8c/kwh.
- Contractors and OEM presence in Kiruna.
- 100+ year mining heritage.
- Local smelter & multiple ports within 350km by rail.

Analysis

Avalon has a 100% ownership of a high quality copper asset in Viscaria, which has near term development potential, significant upside, affordable CAPEX, expandable, infrastructure in place.

While the near mine exploration program has progressed as planned the main focus of Avalon's drilling program continues to be drilling at A, B and D Zones.

This drilling is aimed at expanding the current resource and deliver results that can be included in an updated Scoping Study expected in Q4, 2015.

The study is assessing an $80 million CAPEX, minimum 1.2Mt per annum plant, copper-only start up project.

Avalon aspires to be a long term 20,000 plus tonne per annum copper producer within four years.

Viscaria is in an area of 'National Interest for Minerals'.

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