Avalon Minerals Farms-in to Ecuadorian Gold-Copper Concession

THE BOURSE WHISPERER: Avalon Minerals (ASX: AVI) has signed a Binding Letter Agreement with Cornerstone Capital Resources through its subsidiary La Plata Minerales S.A. (PLAMIN).

Avalon Minerals will have the right to earn a majority interest in the 4,949 hectare Bramaderos concession in southern Ecuador, subject to satisfaction of certain conditions.

Avalon said the Bramaderos concession contains fertile mineralised systems, which the company considers having strong potential to host a world-class discovery.

Historical results from Bramaderos include wide intervals such as:

260 metres at 0.6 grams per tonne gold and 0.14 per cent copper in diamond drilling; and

42m at 3.7g/t gold in surface trenching.

 “Avalon is excited about working with Cornerstone and advancing the Bramaderos opportunity,” Avalon Minerals CEO Malcom Norris said in the company’s announcement to the Australian Securities Exchange.

“The Avalon team has worked previously with Cornerstone on other projects in Ecuador which have led to significant discoveries and shareholder value growth, and we will work towards repeating that success at Bramaderos.

“The Avalon team is keen to apply its exploration approach developed at Tujuh Bukit in Indonesia and Cascabel in Ecuador to the Bramaderos opportunity.”

Email: info@avalonminerals.com.au

Website: www.avalonminerals.com.au