- Alvo Minerals (ALV) intercepts a wide zone of massive sulphide mineralisation in the first drill hole at the C3 deposit, located at its Palma Project in central Brazil
- The first hole intercepted a wide zone of 21.1 metres downhole width from 187.5 metres massive sulphide mineralisation
- This is one of the widest intercepts to date at C3
- Managing Director Rob Smakman said the first hole encounter was “extremely encouraging” for the company’s exploration program
- On the market this afternoon, Alvo is down 1.32 per cent and is trading at 37.5 cents per share
Alvo Minerals (ALV) has intercepted a wide zone of massive sulphide mineralisation in the first drill hole at the C3 deposit, located at its Palma Project in central Brazil.
The mineralised zone was intercepted close to the interpreted depth and serves as strong encouragement to the veracity of historical work undertaken on the project.
Alvo has recently started a drilling program at the deposit, which is one of the high-grade volcanogenic massive sulphide (VMS) prospects.
Hole one has intercepted a wide zone of 21.1 metres downhole width from 187.5 metres massive sulphide mineralisation. This is one of the widest intercepts to date at C3.
Notably, based on initial visual inspection, the intercept is close to the interpreted mineralised zone.
Managing Director Rob Smakman said the first hole encounter was “extremely encouraging” for the company’s exploration program.
“It’s hard to explain the mixture excitement and relief we are feeling now, to have the visual confirmation of the massive sulphide zone is a real confidence boost for the company and the project as a whole,” Mr Smakman said.
“We are days into our maiden drilling program, only 12 days since listing on the ASX and are pleased to report this encouraging news so early to the market.”
On the market this afternoon, Alvo was down 1.32 per cent and is trading at 37.5 cents per share at 12:54 pm AEDT.