Junior mining company Avanco Resources Ltd (ASX: AVB) saw its market stocks climb to steep levels as the company revealed on Tuesday that its drilling activities in Brazil yielded high copper grades that could see production very soon.

As of 1308 AEST on the same day, Avanco shares soared by 2.4 cents or 92.31 per cent to trade at five cents for some 194 million shares or $10 million worth of stocks to change hands on the day.

The Perth-based company said that its Rio Verde project could be online for production and in due time for the anticipated rise in copper price as it added that drilling results from the Antas South deposit showed the presence of "an exceptionally high-grade copper zone within the greater resource area."

In its statement made public on Tuesday, Avanco Resources said that the site's copper reservoir returned "a spectacular intercept of nine metres (wide) at 50.49 per cent copper from 18 metres (depth)."

The company added that scattered finds on the drilling site showed remarkable copper grades ranging from 2.08 percent to 14.79 percent concentrates, which are embedded on the other parts of the deposit.

In light of the high grade discovery, Avanco said that it is seriously considering "the concept of using the high-grade zone as a springboard to becoming a very near-term copper producer with full exposure to an improving copper price."

Avanco's revelation came amidst the volatility seen in copper price for the past few years as levels reached a high $US9000 per tonne in mid-2008 though prices succumbed to the pressures brought by the global financial crisis later that year, plummeting to as much as $US3000 as the year wore on.