Alvo has been listed for just over three months and has already reported massive sulphide intersections from maiden drilling at the C3 deposit at its Palma project in Brazil.

The company kicked off a maiden 10,000m diamond drilling program across the project immediately after listing on the ASX on 20 October 2021 with the first hole intersecting 21.1m of massive sulphides from a depth of 187.5m.

Seven holes totalling 1,659m of its 10,000m drill program during the December quarter and has since mobilised a second rig and drilled a further three holes. Assays from the first six holes are expected in early February.

During the December quarter Alvo Minerals (ASX:ALV) also completed a fixed loop electromagnetic (FLEM) survey at the C1 deposit to refine “drill-ready” conductors associated with volcanogenic massive sulphide.

This was followed by a fresh ground and downhole EM system to enhance drill targeting across the Palma project where multiple VTEM conductors require follow-up.

The company’s belief in the prospectivity of its assets is also highlighted by its successful auction bids to acquire two new exploration areas adjacent to its existing tenure.


Palma Project

The Palma project in central Brazil is a copper-zinc rich VMS play with mineralisation identified and drilled (historical and current) at four prospects.

However, there are multiple VTEM conductors defined in an earlier study that Alto plans to target in an upcoming systematic FLEM survey.

It will then drill test the most prospective targets.

The company has also re-logged historical drilling carried out by CPRM to better understand the geological setting and mineralisation of the Palma Project.

This is especially important as CPRM did not routinely submit its drill samples for gold assays.

Alvo is well-funded for exploration in 2022 with $8.9m in cash as at 31 December 2021.

This article was developed in collaboration with Alvo Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.