Alvo (ASX:ALV) make massive discovery at Palma

Alvo Minerals has made a huge discovery at the Palma Volcanogenic Massive Sulphide project, part of the Bluebush REE Project in Brazil.

This is the largest base metals intercept ever recorded for the company in the region just down the road from the high-grade C1 Deposit and the equally impressive C4 Prospect.

In 2008, the VTEM survey covered over 60km of strike and identified 20 regional late-time conductors, including the discovery at the C4 Prospect. 

Drill and Geological plan of C4 prospect

The impressive results of the discovery include 37m at 1.9% CuEq or 4.6% ZnEq from 113m, 2m at 3.6% CuEq or 8.8% ZnEq from 132m, 4m at 2.8% CuEq or 6.9% ZnEq from 157m, and 6m at 1.9% CuEq or 4.7% ZnEq from 176m in the drill hole.

Alvo Managing Director Rob Smakman said the findings are significant, per Alvo’s Managing Director. The team is identifying additional targets at C4. Promising outcomes so far.

He said if the solid results continue his company will be well-positioned to deliver a maiden MRE for C4 and bring Alvo a step closer to achieving the critical mass required to support a potential economic mining scenario at Palma.

Importantly, the regional exploration success gives us confidence that Palma has the potential to be a major VMS cluster system, with the team planning on testing additional regional targets in CY2023,” Mr Sakman said.

“C1 and C3 phase 1 and phase 2 diamond drill programs have concluded, and these results will be incorporated into an updated MRE that we anticipate being released in Q4 CY2023. We believe the updated MRE will illustrate our faith in Palma since listing in October 2021, having consistently delivered grades and width superior to the historical drilling that was the basis of the existing MRE.

The Company plans to release results from the Bluebush REE project within 6 months.