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)
Somerset Minerals Logo

Acquisition of High-Grade Copper Project Adjacent to White Cliff Minerals

Somerset Minerals Ltd (“Somerset” or the “Company”) (ASX:SMM) is pleased to advise that it has entered into a conditional agreement to acquire 100% of the issued capital of Sentinel Resources Pty Ltd (“Sentinel”), which, through its local subsidiary, holds the Coppermine Project (the “Project”) in Nunavut, Canada.

Importantly, the Coppermine Project hosts 1,055 km2 of the prospective Copper Creek Formation basalts, and is interpreted to include the strike extensions to White Cliff’s high priory targets of Vision, Stark, Thor and Rocket (Figure 2 & 3), with the prospectivity of the wider project area also supported by extensive surface sampling and historic exploration (Table 1). Importantly, Somerset holds the ground entirely around and along strike from White Cliff’s recently acquired Danvers prospect which contains a non-JORC or NI 43-101 resource of 4.16Mt @ 2.96% Cu.

Keep reading...Show less
US$100 bills.

Lundin Mining to Divest Neves-Corvo and Zinkgruvan Operations for US$1.52 Billion

Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has entered a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden (STO:BOL) for up to US$1.52 billion.

The sale, announced by the company on Monday (December 9), will see Boliden acquire full ownership of Somincor, the company operating Neves-Corvo, as well as Zinkgruvan Mining Aktiebolag and its associated entities.

Lundin expects to receive upfront cash consideration of US$1.37 billion at closing, based on financial conditions as of August 31, 2024. Interest will accrue at 5 percent annually until the closing date.

Keep reading...Show less

Lundin Mining Announces Sale of Neves-Corvo and Zinkgruvan for Total Consideration of up to $1.52 Billion

Lundin Mining logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) ("Boliden") for up to $1.52 billion in total consideration (the "Transaction"). Unless otherwise stated, all numbers are presented in United States dollars.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Business handshake.

Rio Tinto and Sumitomo Partner to Advance Winu Copper-Gold Project

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has signed a term sheet with Sumitomo Metal Mining (TSE:5713) for a joint venture to advance the Winu copper-gold project in Western Australia.

The partnership, announced on Wednesday (December 4), seeks to develop both companies’ exploration initiatives.

Sumitomo will acquire a 30 percent equity stake in the Winu project for US$399 million, including an initial payment of US$195 million and US$204 million in deferred considerations tied to project milestones and other conditions.

Keep reading...Show less
VVC Resources (TSXV:VVC)

Results of VVC Annual Shareholders’ Meeting

VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following:

Shareholders’ Meeting
The Company’s Annual General Meeting of Shareholders (“AGM”) took place virtually yesterday with 34 attendees (shareholders and guests). Total attendance in person and by proxy was 137 shareholders representing about 51.4% of the outstanding shares. At the AGM, shareholders approved the election of all Directors proposed by Management with over 90% of the tendered votes being in favor, and the re-appointment of MNP LLP as auditors of the Company with all of the tendered votes being in favor.

Keep reading...Show less
  Greentech Metals Limited

Drilling Planned for Resource Expansion at Whundo Copper Project

GreenTech Metals Ltd (ASX: GRE) (GreenTech or the Company) is pleased to announce a second stage drill program at the Whundo Cu-Zn project in the West Pilbara region, which is anticipated to commence in the coming weeks.

Keep reading...Show less

Latest Press Releases

Related News

×