
December 05, 2023
First diamond hole intercepts 18.5m @ 1,396ppm TREO (25% MREO) including multiple shallow, high-grades up to 3,426ppm TREO (29% MREO)
Alvo Minerals Limited (ASX: ALV) (“Alvo” or the “Company”) is pleased to announce the exercise of the binding agreement to purchase the Bluebush Ionic Adsorption Clay (IAC) Rare Earth Project (“Bluebush IAC” or “The Project”) as well as exploration results. Bluebush is located on the northern half of the Serra Dourada granite, the same host rock of the Serra Verde Ionic Clay REE deposit (“Serra Verde”), believed to be the only ionic clay project currently being commissioned outside of China.
HIGHLIGHTS
- As a result of the exceptional first diamond drilling assay result, previous reported exploration results and excellent ionic adsorption testwork recoveries, Alvo has exercised the purchase option over 100% of the Bluebush Ionic Adsorption Clay REE Project (“Bluebush IAC”).
- First diamond drill hole BLD004 returned a broad intercept of 34m at 1,090ppm TREO (24% MREO) from surface (0.5m), containing shallow, high-grade intervals including:
- 18.5m @ 1,396ppm TREO (25% MREO) from 0.5m
- Inc. 10.5m @ 1,868ppm TREO (26% MREO) from 0.5m
- Inc. 3.5m @ 2,961ppm TREO (28% MREO) from 4.1m
- Inc. 10.5m @ 1,868ppm TREO (26% MREO) from 0.5m
- 18.5m @ 1,396ppm TREO (25% MREO) from 0.5m
- All Intervals contain significant Dysprosium (Dy) and Terbium (Tb), the most valuable of the Magnet rare earths.
- Grades compare favourably to neighbouring Serra Verde IAC deposit which hosts an MRE1 of 911Mt @ 1,200ppm TREO
- Remaining 5 diamond drill hole assay results are expected to be received in the coming weeks
- Auger results across Bluebush confirm the Boa Vista as the priority prospect, highlights include:
- 11m @ 1,045ppm TREO from 2m to EOH (25% MREO) in BLG0029
- Inc. 6m @ 1,179ppm TREO (26% MREO) from 3m
- 8m @ 1,155ppm TREO (25% MREO) from 0m in BLG0198
- Inc. 4m @ 1,428ppm TREO (26% MREO) from 2m
- 11m @ 1,045ppm TREO from 2m to EOH (25% MREO) in BLG0029
- Bluebush IAC due diligence has successfully delivered against Alvo’s key acquisition criteria, being:
- Grade: Identified high-grade TREO and MREO zones at Boa Vista2
- Scale: Mineralisation defined over an initial 3.5km strike and 3.0km width (and open), with Alvo diamond drilling intercepting saprolite clay depths of up to 28m
- Ionic Clay Extraction: Magnet rare earth extractions up to 83% (averaging 56%) using weakly acidic (pH 4), ammonium sulphate wash at ambient temperatures3
Rob Smakman, Alvo’s Managing Director commented on this critical step:
“Our outstanding first diamond drilling assay result and results of exploration across the Project over the last few months have given us great conviction to exercise the option over Bluebush IAC.
“We signed the option believing the area could contain a project like our neighbours at Serra Verde and the results delivered to date have confirmed that potential. Our acquisition criteria of Scale, Grade and Ionic Adsorption Clay Mineralisation have been met and we are very comfortable in formalising the purchase of the Project. We will continue to expand our understanding of the broader Bluebush IAC REE Project and plan to progress towards a maiden Mineral Resource Estimate in the new year.
“Alvo is now poised to take advantage of the critical minerals thematic, having been able to demonstrate broad and thick zones of high-grade ionic clays. Bluebush has the added advantage of high levels of the more valuable magnet rare earths, which are the most critical for supply chain security across the world. We believe Bluebush represents a truly unique investment opportunity that we were able to secure through our strong in-country relationships.”
Bluebush IAC Exploration Update
Alvo has completed 6 diamond holes (145m) across the Bluebush IAC REE Project, all of which intersected saprolite clay zones4 with widths of up to 28m and averaging 18m (See Figures 1 and 2).
Results from hole BLD004 were prioritised at the lab and the results have included mineralisation from surface (0.5m) to the interface of saprock and fresh rock at ~35m, averaging 1,090ppm Total Rare Earth Oxides (TREO) of which, 24% were the more valuable Magnet Rare Earth Oxides (MREO) (no lower cut-off applied - see Table 1 for more information).
Within the broad saprolite clay interval of 34m @ 1,090ppm TREO (24% MREO), high grade intervals included:
- 18.5m @ 1,396ppm TREO (25% MREO) from 0.5m;
- Inc. 10.5m @ 1,868ppm TREO (26% MREO) from 0.5m;
- Inc. 3.5m @ 2,963ppm TREO (28% MREO) from 4.1m.
- Inc. 10.5m @ 1,868ppm TREO (26% MREO) from 0.5m;
- 6m @ 1,019ppm TREO (21% MREO) from 29m
Diamond drilling is considered fundamental for understanding the thickness and type of saprolite in the oxidised profile. Diamond drill hole BLD004 was drilled approximately 4m east of auger drill hole BRL0008 that delivered exceptional TREO values of 6m @ 2,537ppm TREO (21% MREO) (12% Dy+Tb/MREO), including 3m @ 3,415ppm TREO (24% MREO) (12% Dy+Tb/MREO).
The saprolite thickness in the diamond drilling has varied from a minimum of 9.4m in hole BLD006 to 28.3m in hole BLD004, with an average interval of clay intercepted of 18.3m. It is worth noting that the average depth of the auger drilling completed to date across the Bluebush Project is 8.3m and is often not intercepting the full saprolite profile. Many of the auger holes also end in mineralisation indicating that it’s an excellent tool for first pass exploration, but follow-up exploration using diamond, aircore or reverse circulation drilling is required to fully define the Project’s potential.
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)
08 August 2022
Alvo Minerals
District-Scale Copper-Zinc VMS Project in Brazil
District-Scale Copper-Zinc VMS Project in Brazil Keep Reading...
22 October
Top 5 Junior Copper Stocks on the TSXV in 2025
Junior copper stocks are seeing significant support from the copper supply-demand story in 2025 as companies work to make the next big copper discovery. Copper prices were volatile in the third quarter, driven by concerns over tariffs and a mine closure. To start the quarter, the price of copper... Keep Reading...
21 October
5 Best-performing Copper Stocks on the TSX in 2025
Copper prices have seen considerable gains in 2025, reaching a record high on the COMEX of US$5.68 per pound on July 8. Rising prices and supportive policy have elevated many copper stocks.Copper tariffs were the story surrounding the market to start the third quarter, not only pushing the price... Keep Reading...
21 October
Steadright Signs MOU for Historic Polymetallic Copper-Lead-Zinc-Silver-Gold Goundafa Mine in Morocco
Steadright Critical Minerals Inc. (CSE: SCM) (“Steadright” or the “Company”) is pleased to announce a Memorandum of Understanding (MOU) has been signed with Ste Commerciale et Minière du Sahara (CMS) that is the license holder of an historic polymetallic Zinc-Lead-Silver-Copper-Gold mine,... Keep Reading...
21 October
New VMS Licence Award at Rulikha Deposit
East Star Resources Plc (LSE:EST), which is exploring for copper and gold in Kazakhstan, is pleased to announce it has been awarded a new exploration licence - 3631-EL (the "Licence"), encompassing the remaining part of the induced-polarisation (IP) anomaly north of the Rulikha Deposit.With the... Keep Reading...
20 October
Copper Price Update: Q3 2025 in Review
Copper prices were volatile during Q3, swinging to record highs of US$5.81 per pound on the COMEX.The movement was fueled by traders importing copper products into the US following President Donald Trump’s tariff announcement on July 8. However, prices fell in early August as the White House... Keep Reading...
20 October
Panama Sets Firm Ownership Terms Ahead of Cobre Mine Negotiations
Panama will demand that any new deal to reopen the US$10 billion Cobre Panama copper mine explicitly recognizes the state’s ownership of the land and its mineral resources, Finance Minister Felipe Chapman said according to a Bloomberg report.“For us, it’s important to have an agreement that... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00






