Alvo Minerals

Alvo Delivers Drilling Intercepts Up To 4.3% Cu, 17.5% Zn & 184g/t Ag

Diamond drilling delivers thick, shallow and high-grade intercepts at the C1 Prospect

Alvo Minerals Limited (ASX: ALV) (Alvo or the Company) is pleased to announce the final assay results from the phase 1 diamond drill program at the C1 prospect. Diamond drilling returned multiple shallow, thick and high- grade polymetallic intercepts (see Figures 1-3 and Table 1).

HIGHLIGHTS

  • The Palma VMS Project continues to deliver significant base and precious metals results from the C1 prospect.
  • Grades from the phase 1 drill program at C1 and C3 compare favourably with intercepts in historical drilling -used in the reported JORC Mineral Resource Estimate (MRE) of 4.6Mt @ 1.0% Cu, 3.9% Zn, 0.4% Pb & 20g/t Ag
  • Final assay results received from the phase 1 drill program at C1 continue to define multiple shallow, thick and high-grade polymetallic intercepts. Highlights include:
    • PD1-039: 22.0m @ 0.87% Cu, 5.62% Zn, 1.26% Pb, 30.8g/t Ag & 0.04g/t Au from 50m
    • Inc. 5.7m @ 1.45% Cu, 16.90% Zn, 3.63% Pb, 80.9g/t Ag & 0.08g/t Au from 59m
    • PD1-037: 2.0m @ 4.32% Cu, 17.45% Zn, 4.78% Pb, 184.2g/t Ag & 0.31g/t Au from 111m
    • PD1-043: 4.6m @ 0.67% Cu, 7.10% Zn, 1.72% Pb, 29.0g/t Ag & 0.04g/t Au from 41m
    • Inc. 1.4m @ 1.76% Cu, 20.92% Zn, 5.42% Pb, 91.2g/t Ag & 0.11g/t Au from 43m
    • PD1-044: 10.9m @ 0.60% Cu, 3.00% Zn, 0.81% Pb, 16.5g/t Ag & 0.01g/t Au from 60m
    • Inc. 2.5m @ 1.13% Cu, 9.93% Zn, 2.14% Pb, 56.5g/t Ag & 0.04g/t Au from 68m
    • PD1-045: 2.0m @ 1.98% Cu, 14.37% Zn, 3.35% Pb, 81.9g/t Ag & 0.14g/t Au from 65m
  • Phase 1 drill programs are complete and have significantly increased the Company’s confidence for the phase 2 that will take aggressive step-outs to test extensions to existing high-grade VMS mineralisation
    • Both drill rigs have relocated and are operating at the C3 prospect, testing both extensions and discovery targets at Mafico and Ema (previously C3 West) located within 800m of the C3 prospect
    • Based on the strong results at Palma the maiden 10,000m program has been extended

The Company has completed the maiden 10,000m diamond drill program and given the strong results delivered to date has elected to extend the drill program, with total diamond drilling at Palma Project now passing 12,000m. Both diamond drill rigs are currently operating at C3 testing extensions to high-grade VMS mineralisation and several new discovery targets including Mafico and Ema (previously C3 West).

Rob Smakman, Alvo’s Managing Director commented from site:

"Results from drilling at C1 continue to impress, with the best intercepts associated with thickening on the fold which plunges shallowly towards the south. We are starting to build our geological understanding of C1 and look forward to expanding our drilling along strike and down dip once additional geophysical surveys are completed.

Both diamond drill rigs are now back at C3 and testing high-grade extensions to the north, south and at depth, where mineralisation remains open.

It's great to complete the maiden 10,000m program, a goal that we set ourselves for our first year. We are now extending the program as drilling continues at C3 where we are chasing extensions. We are also starting the exciting process of drilling several discovery targets.”

Diamond Drilling at C1

Final diamond drilling results for Phase 1 at C1 are reported below and include the results from 18 holes, for a total of 30 holes for 5,551 metres in phase 1 drilling at C1.1


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.

ALV:AU
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).

HIGHLIGHTS

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

×