Alvo Minerals

Bluebush Ree Drilling Advancing

Alvo Minerals Limited (ASX: ALV) (“Alvo” or the “Company”) is pleased to update shareholders on the ongoing exploration at the recently acquired 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”) (see Figures 1 & 2).


HIGHLIGHTS

  • Maiden auger drill program advancing at Bluebush with 58 holes completed for 472m (averaging 8.1m depth to date).
    • Phase 1 drilling is targeting road network with clearing advancing ahead of the auger rig.
  • Auger drilling was initiated across the Boa Vista prospect with the rig now operating at the Ferradura and Fazendinha prospects.
  • Phase 1 Auger Drill Program is targeting an area of ~30km2 of the highly prospective Serra Dourada granite which hosts the Serra Verde Ionic Clay project 40km south.
    • Serra Verde is the only Ionic Clay project in construction outside of China.
  • First assays due within 2 weeks, with a second, larger batch currently at the lab with results expected in August.
  • Once initial assays are received samples will be selected and submitted for ionic-clay testing with preliminary metallurgical results expected in Q3.
  • Previous handheld auger drilling intercepted REE mineralisation in clays from surface to end of hole (EOH), including:
    • 1m @ 1,355ppm TREO (29% MREO) auger ERRO031AGR from 1m to EOH (Ferradura)
    • 5m @ 1,139ppm TREO (36% MREO) auger ERRO072AGR from 1m to EOH (Fazendinha)
    • 13m @ 928ppm TREO (33% MREO) auger ERRO017AGR from 0m to EOH (Ferradura)
    • 6m @ 1,188ppm TREO (37% MREO) auger ERRO273AGR from 1m (Boa Vista 01)

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

“With the commencement of activities at Bluebush immediately after the signing of the deal, we continue to demonstrate our commitment to the project and efficiency of operations in Brazil. Our focus during the due diligence period is covering the project with first pass auger drilling to investigate the depth and extensions of the mineralisation and its ionic clay potential. We are well on track to make a sound decision based on results- with first assays expected in the next few weeks.”

The maiden auger drill program1 has focused initially on the Boa Vista prospect where access on multiple roads facilitated faster entry for the auger rig (see Figure 1). Road improvement to allow for ongoing drilling across the wider Project area is ongoing with over 30km2 of the Serra Dourada granite to be assessed.

First laboratory assays from the SGS lab in Brazil are expected within the next 2 weeks, with a second and larger sample lot expected in early-mid August 2023. Ongoing sampling will be submitted to the lab on a batch basis with results released to the market in a timely manner.

Once initial assays are received and interpreted, samples will be selected and submitted for ionic-clay testing with preliminary results expected in September.

Auger drilling is targeting multiple prospects across Bluebush, designed to test and expand on positive results reported by the Project vendor2. These results (which are from handheld auger drilling from the clay horizon only as outlined in the ASX announcement dated 7 June 2023) were from drilling which targeted the alluvials. Significant results2 included:

  • 1m @ 1,355ppm TREO (29% MREO) auger ERRO031AGR from 1m to EOH (Ferradura)
  • 5m @ 1,139ppm TREO (36% MREO) auger ERRO072AGR from 1m to EOH (Fazendinha)
  • 13m @ 928ppm TREO (33% MREO) auger ERRO017AGR from 0m to EOH (Ferradura)
  • 6m @ 871ppm TREO (31% MREO) auger ERRO142AGR from 0m to EOH (Ferradura)
  • 6m @ 1,188ppm TREO (37% MREO) auger ERRO273AGR from 1m (Boa Vista 01)
  • 6m @ 796ppm TREO (34% MREO) auger ERRO279AGR from 0m (Boa Vista 1)

Figure 1: Bluebush auger results completed by vendor with highlights of shallow saprolite (clay) drilling. Drilling completed by Alvo is included as green squares.

Figure 2: Regional geology and tenement holdings for Alvo's Bluebush REE and Palma project areas.

The previous owners of Bluebush drilled a total of 258 auger holes for approximately 930m (average 3.6m depth). The auger drilling would often stop once the saprolite clay horizon was intercepted as the primary target were the alluvials (and partly due to restrictions of the handheld equipment) and as such, the routine sampling of these horizons often ended in mineralisation.

Other work underway at Bluebush includes a review of the official Mata Azul company documents and tenements at the relevant governmental agencies. The Brazilian Mines Department staff are currently on strike, however Alvo should be able to review the relevant documents which are largely online.


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)
Osisko Metals (TSXV:OM)

Osisko Metals


Keep reading...Show less
Copper bars with weight stamps, stock market chart background.

What Was the Highest Price for Copper?

Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Team Expansion & Bulk Met Testing Commences

Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce several strategic technical appointments and partnerships that strengthen the in-house project development team and support the advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.

These appointments coincide with the commencement of bulk-scale metallurgical testing, a critical step in progressing Pitfield toward commercial development.

Keep reading...Show less
Cracked globe labeled "Tariffs" and "Sanctions" on a wooden surface.

Global Outcry Mounts Over Trump’s Tariff Blitz Ahead of Deadline

President Donald Trump’s surprise announcement of 30 percent tariffs on imports from the EU and Mexico has triggered immediate backlash from various stakeholders, with less than three weeks to go before the tariffs take effect on August 1.

The tariffs—part of a broader series of trade penalties that include duties on copper and new levies on Canada, Japan, South Korea, and Brazil—have drawn sharp criticism from some of the country's closest allies and trading partners.

Keep reading...Show less
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper's Trump Tariffs — Plus Gold Price, Uranium Opportunity

Lobo Tiggre, CEO of IndependentSpeculator.com, discusses the recent news that the US plans to put a 50 percent tariff on copper imports.

He also weighs in on gold, silver and platinum price drivers, as well as uranium stocks.

Keep reading...Show less
Metal pipes and bars obstructed by yellow "tariffs" tape with US flags.

Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

Keep reading...Show less

Latest Press Releases

Related News

×