Alvo flags “outstanding” polymetallic results from C3 prospect in Brazil
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Alvo has returned more cracking polymetallic results from diamond drilling at the C3 prospect, part of its Palma project in Brazil.
Notably, hole PD3-012 is the thickest interval received to date and expands C3’s mineralised envelope.
Further assays are pending, and in the meantime both diamond drill rigs have moved to C1, – where the company previously reported an Inferred MRE of 1.8Mt at 0.8% copper, 3.2% zinc, 0.4% lead and 15 g/t silver.
Alvo Minerals (ASX:ALV) MD Rob Smakman says the results from C3 have given the company a clear understanding of the mineralisation style.
“We are starting to learn about the exceptional potential of C3 and are now firm believers that mineralisation can be significantly expanded,” he said.
“We will drill again at C3 and target extensions once we have completed our planned Fixed Loop Electromagnetic (FLEM) survey and Downhole Electromagnetic (DHEM) survey.
“Given the success of the FLEM survey at C1 in identifying conductive plates, the team thought it prudent to undertake both FLEM and DHEM surveys to identify and refine possible mineralisation extensions prior to drilling, saving Alvo money and time.”
The company has planned a combination of ‘Upgrade’, ‘Expand’ and ‘Discover’ holes, based around the historical drilling at C1 and the recently completed FLEM survey.
“We will be more aggressive with drilling at C1 and drill the extensions defined from the earlier FLEM survey,” Smakman said.
“We are extremely excited to test the southern plates during this drill program, in what could be a new discovery for the Palma project.”
FLEM and DHEM surveys will commence on C3 and C1 once the equipment arrives in Brazil in April 2022.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.