Alvo Minerals

Agreement To Acquire Potential Tier 1 Ionic Clay Bluebush Rare Earth Project

Alvo Minerals Limited (ASX: ALV) (“Alvo” or the “Company”) is extremely pleased to announce the signing of a binding agreement to purchase the highly prospective Bluebush REE Project (“Bluebush” or the “Project”), located on the northern half of the Serra Dourada granite, host of the Serra Verde Ionic Clay REE deposit (“Serra Verde”).


  • Alvo Minerals Limited has entered into a binding agreement for the purchase of the highly prospective Bluebush Rare Earth Element (“REE”) Project in Central Brazil, adjacent to Alvo’s existing Palmeiropolis exploration base.
  • Bluebush is located adjacent to and in the same geological setting as the Serra Verde Ionic Clay REE Project, the only genuine Ionic Clay project currently in construction outside of China.
  • Bluebush has been held privately by Mata Azul S/A since 2004 and was primarily explored for REEs associated with concentrates of alluvials, with the saprolite (clay) potential at an early stage of exploration.
  • Early-stage exploration work completed by the vendors has confirmed high-grade REEs at shallow levels with values up to 4,500ppm TREO in alluvials and 2,350ppm TREO in saprolite (clay).
    • Saprolite results recorded a very high magnet rare earth split averaging 35% (MREO/TREO)
    • Auger drilling focused on surface alluvial- average hole depth of 3.6m
  • Early-stage exploration completed (auger, channel and pit sampling) with intercepts of saprolite (clay) mineralisation from surface and ending in REE mineralisation (*hole ends in REE mineralisation), includes significant intercepts as below. Please refer to cautionary statement below for previous exploration results.
    • 6m @ 1,188ppm TREO (37% MREO) auger ERRO273AGR from 1m* (Boa Vista 01)
    • 1m @ 1,355ppm TREO (29% MREO) auger ERRO031AGR from 1m* (Ferradura)
    • 5m @ 1,139ppm TREO (36% MREO) auger ERRO072AGR from 1m* (Fazendinha)
    • 13m @ 928ppm TREO (33% MREO) auger ERRO017AGR from 0m* (Ferradura)
    • 6m @ 871ppm TREO (31% MREO) auger ERRO142AGR from 0m* (Ferradura)
    • 7m @ 860ppm TREO (43% MREO) auger MAZ-TR-011 from 1m* (Fazendinha)
    • 6m @ 796ppm TREO (34% MREO) auger ERRO279AGR from 0m* (Boa Vista 1)
    • 5m @ 951ppm TREO (37% MREO) auger ERRO136AGR from 1m* (Ferradura)
    • 4m @ 863ppm TREO (35% MREO) auger ERRO095AGR from 1m* (Praiao 02)
  • Ability to purchase up to 100% of Bluebush through staged payments based on project milestones.
  • 6-month (+3 months) due diligence process underway following payment of BRL100,000 (A$30,530).
  • Due Diligence work will include auger drilling to extend existing mineralisation depth profile and strike extent and sampling of saprolite to confirm Ionic Clay mineralisation.
  • Alvo’s exploration team and inhouse equipment including truck mounted auger rigs are in place locally
  • and will proceed under guidance from international REE specialists.
*Cautionary Statement: The exploration results reported in this announcement have been reported by the previous owner. The Exploration Results have not been reported in accordance with accordance with JORC Code 2012. A Competent Person has not done sufficient work to disclose the exploration results in accordance with the JORC Code 2012. It is possible that following further evaluation and/or exploration work that the confidence in the prior exploration results may be reduced when reported under the JORC Code 2012. Nothing has come to the attention of Alvo that causes it to question the accuracy or reliability of the former owner’s exploration. The Company however has not independently validated the former owner’s exploration results and therefore is not to be regarded as reporting, adopting or endorsing those results.

Serra Verde is majority owned by US based private equity group, Denham Capital1, and boasts a Mineral Resource2 of 911Mt @ 1,200ppm Total Rare Earth Oxide (“TREO”) and a Mineral reserve of 350Mt @ 1,500ppm TREO with high heavy and critical ratios of Magnet Rare Earth Oxide (“MREO”). Of significance is that Serra Verde is the only Ionic Clay project in construction outside of China, and the adjacent Bluebush Project exhibits many similar characteristics in terms of grades and REE ratios.

Bluebush is located within 10km of Alvo’s exploration base where Alvo has the team, the tools and expertise to conduct a timely and cost-effective exploration program to rapidly advance the Bluebush Project.

Rob Smakman, Alvo’s Managing Director commented on the Bluebush Project:

“Brazil is emerging as a premier location for Rare Earth Elements and Alvo is incredibly excited by the acquisition of Bluebush, which is a potential ‘Tier 1’ Ionic-Clay rare earth project. Alvo is now entering the race to develop these critical minerals which are vital in the global energy transition.

“The Project itself is located adjacent to the Serra Verde mine, the largest and most advanced ionic-clay REE project outside of China, and many of the attributes at Bluebush appear similar. Bluebush hosts high grades at surface, broad zones of saprolite which have barely been tested, and the mix of Magnet or Critical REEs to Total REEs appears very similar to those at Serra Verde.

“The opportunity at Bluebush only became available to Alvo through our local presence, with the vendors only interested in dealing with a team with proven exploration execution capabilities as we have demonstrated at Palma. Being privately held and focused on cashflow, the vendors have concentrated on the alluvial potential of the Project and only scratched the surface for ionic clay hosted REEs. We plan to rapidly test the ionic clay mineralisation potential at Bluebush, which is such a similar exploration setting to that of Serra Verde.

“The Bluebush acquisition makes perfect sense for Alvo and is synergistic with existing exploration at Palma. Our exploration base and Brazilian head office are located a few kilometres from Bluebush, and we have existing relationships with the owners and local stakeholders. Couple that with the existing exploration team, the best tools for the exploration in country and consultants that can help us effectively explore, and we have what I believe is a winning formula for success.

“We are ready to immediately start our due-diligence on the Project, where we will test for the depth extents of the saprolite with our inhouse auger drill-rig and then run a series of tests on the mineralisation to confirm their ionic clay characteristics. We will be guided in our due diligence by international REE specialists Met-Chem Consulting.”

Click here for the full ASX Release

This article includes content from Alvo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Forum to Update Investors on Its Thelon Basin Uranium Drill Program at the Red Cloud Pre-PDAC Mining Showcase and the PDAC 2024 Convention in Toronto, Canada

Forum to Update Investors on Its Thelon Basin Uranium Drill Program at the Red Cloud Pre-PDAC Mining Showcase and the PDAC 2024 Convention in Toronto, Canada

You are welcome to join Forum Energy Metals (TSXV: FMC) (OTCQB: FDCFF) at the Red Cloud Pre-PDAC Mining Showcase on Thursday, February 29 and Friday, March 1 at the Sheraton Centre Toronto Hotel followed by the PDAC Convention at the Metro Toronto Convention Centre, Sunday March 3rd through Wednesday March 6th.

Dr. Rebecca Hunter, VP, Exploration will be presenting at the Red Cloud Pre-PDAC Mining Showcase at 10:00am on Friday, March 1st and at the PDAC 2024 Uranium Technical Session at 10:00am on Tuesday, March 5th in Room 801A. Dr. Hunter will update investors on her plans for drilling on Forum's Thelon Basin uranium discovery in Nunavut, the next premier uranium mining district.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
closeup of copper wires

Top 5 ASX Copper Stocks of 2024

Copper prices have traded at record highs in recent years, and although the red metal is facing strong headwinds in 2024, experts have positive expectations for the market in the years ahead.

Prices for the base metal pulled back to three month lows in mid-February, dampened by continued lagging economic indicators in China. However, in the long term, many market watchers see tight supply and higher consumption from sectors like the electric vehicle industry creating a robust outlook for copper.

Against that backdrop, the top ASX copper stocks have put on impressive year-to-date share price performances. The list below outlines the top gainers, and was generated on February 13, 2024, using TradingView’s stock screener; all copper stocks listed had market caps above AU$50 million at that time. Read on to learn more about them.

Keep reading...Show less
the historic lousal mine located within Avrupa Minerals’ alvalade copper-zinc vms project in Portugal

Global VMS Deposits Make Attractive Investment Targets

Typically occurring as lenses of polymetallic massive sulfides, volcanogenic massive sulfide (VMS) deposits are major sources of copper, zinc, lead, silver and gold.

These deposits are frequently regarded as potential 'elephant country' due to their tendency to occur in clusters within mining districts. Factor in their size and longevity, and it becomes clear why these deposits are so valuable to investors.

Particularly against a backdrop of price fluctuations and supply chain instability, VMS deposits can act as a financial cushion for an investment portfolio.

Keep reading...Show less
Forum Drills 2.5 g/t Gold over 2.3 Metres Including 9.3 g/t Gold over 0.3 Metres at the Tatiggaq Uranium Deposit, Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Drills 2.5 g/t Gold over 2.3 Metres Including 9.3 g/t Gold over 0.3 Metres at the Tatiggaq Uranium Deposit, Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces significant gold assay values associated with high-grade uranium mineralization on the Tatiggaq deposit in the Thelon Basin at its newly re-named Aberdeen uranium project. Forum holds a 100% interest in 95,500 hectares of ground adjacent to Orano's 133 million pound Kiggavik uranium deposit* located 100 km west of Baker Lake, Nunavut. Drill core from two holes drilled into the Main and West zones of Tatiggaq were re-assayed for gold (Figure1).


News Provided by Newsfile via QuoteMedia

Keep reading...Show less
gold and copper bars

5 Top Weekly TSXV Stocks: Spruce Ridge Resources Gains 45 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) dropped 7.03 points last week to close at 549.73.

Statistics Canada released consumer price index figures this past Tuesday (February 20). They indicate that inflation growth slowed in January, seeing a gain of 2.9 percent year-on-year compared to 3.4 percent for December.

This was led by gasoline prices, which fell 4 percent from January 2023. The pace at which retail food prices rose also continued to ease, with a 3.4 percent rise compared to 4 percent in December on an annualized basis.

Keep reading...Show less

Latest Press Releases

Related News