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AVONLEA MINERALS LIMITED

ASX: AVZ

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Avonlea Minerals Limited is an Australian publicly listed company (ASX: AVZ) based in Perth, Western Australia. The Company operates with a priority exploration focus in Namibia, south-west Africa.

The exploration undertaken was focussed on granted iron ore prospects has culminated in the delineation of a very large scale Exploration Target at three key prospects; Hammerhead; Thresher and Ondjou.

While not a JORC compliant Resource it does serve to confirm the potential Avonlea sees in this region and why we actively have pursued these large scale, iron ore opportunities. Throughout, the Company has sought to build on the strategy to identify scalable, high quality magnetite iron ore opportunities and during the year, applied for four additional licence areas in close proximity to these original Prospects. The smallest of these new licence areas has been granted and drilling has recently completed on the newly identified Ondjou Prospect (‘elephant’ in the local Himba dialect).

This drilling program is anticipated to enable the Company to deliver an Inferred Resource prior to the end of the calendar year (2010) and should further build on the Company’s earlier activities and resultant successful outcomes. As the potential of Avonlea’s Fe interests continues to emerge, activity is expected to intensify with the grant of the additional Fe licences which in combination with the potential for a Resource, we trust will then begin to properly reward all stakeholders with a more representative Enterprise Value for these iron ore interests.

In addition, the Company’s base metal licences (through local subsidiaries) have been redefined. These areas were systematically and independently reviewed and reduced in size, to ensure greater focus on those areas that exhibited the greatest potential for near term base metal exploration success on the grant of the licences and in a similar manner; focused exploration programs will be instigated.

Mine For

copper, lead, zinc, iron ore, rare earth elements

Location of operation(s)

Western Australia, Namibia

Address

Freemasons Hall, 181 Roberts Rd
SUBIACO, WA, AUSTRALIA

Phone

61 8 9287 5900

Email

Website


Last Updated

26/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.