Alvo Minerals has begun a maiden 5,000m diamond drilling program at the Palma project
The company is testing three high priority targets (Urubu, Anta and C4-NE)
Exploration across the belt will continue as drilling is underway to advance prospects TG-01, C5, C5N and Anta South to drill ready status
Special Report: A diamond drilling program up to 5,000m has kicked off at Alvo Minerals Palma project, testing three high-priority targets defined by multi-disciplinary exploration.
Alvo Minerals (ASX:ALV) is pushing ahead with exploration at the Palma high-grade volcanogenic massive sulphide (VMS) project after inking $4.1m from Ore Investments to fast-track drilling activities.
The +850km2 project sits within a known VMS district in Brazil with an inferred resource of 4.6Mt grading 1% copper, 3.9% zinc, 0.4% lead and 20 g/t silver.
As it stands, the resource only covers two (C1 and C3) of five prospects that have been historically drilled at the project, left largely idle since its discovery in the 1970s until the company took over.
ALV anticipates updating the Palma resource in Q2 to incorporate all diamond drilling since its IPO in October 2021.
Drilling gets underway
The company is now drilling across three targets (Urubu, Anta, and C4-Ne) in search of high-grade copper-zinc mineralisation.
Exploration across the belt will continue as drilling is underway with additional work expected to advance prospects TG-01, C5, C5N and Anta S to drill ready status.
The Palma project with drill-ready prospects Urubu, Anta and C4-NE and emerging prospects included in light blue. Pic: Alvo Minerals
Palma hosts VMS mineralisation, which is polymetallic and can typically cluster, leading to the decision to drill the prospects as part of a detailed, multi-disciplinary diamond drilling campaign.
ALV envisages the upcoming resource to include a total of 21,500m of drilling at C1 and C3.
Meanwhile, a maiden resource is being for C4, expected to be reported in combination with an updated MRE for C1 and C3 due in Q2 CY24.
Testing large number of targets across >70km strike
“This maiden drill program is our most exciting to date,” ALV managing director Rob Smakman says.
“We’ll be able to test a pipeline of untested VMS prospects, the culmination of countless hours of detailed data collection and interpretation to refine and priorities the large number of targets across the >70km of prospective strike at Palma.
“Alvo is well funded to progress with planned exploration and is hopeful of making discovery during this program.”
This article was developed in collaboration with Alvo Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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