Join our daily newsletter At The Bell to receive exclusive market insights
- Alvo Minerals (ALV) is set to begin a maiden reverse circulation (RC) drilling program at its Palma volcanic massive sulphide (VMS) project in Brazil in the coming days
- Servdrill has been contracted to undertake 4000 metres of RC drilling to initially target the C3 VMS and supergene mineralisation
- Once drilling wraps up at C3, the rig will move to the C1 prospect to target shallow VMS mineralisation where observations have noted less weathering
- Sampling is also underway at C3 with phase two diamond drilling to be undertaken based on the results
- Alvo Minerals is up 6.38 per cent with shares trading at 25 cents at 1:52 pm AEST
Alvo Minerals (ALV) is set to begin a maiden reverse circulation (RC) drilling program at its Palma volcanic massive sulphide (VMS) project in Brazil in the coming days.
Servdrill has been contracted to undertake 4000 metres of RC drilling to initially target the C3 VMS and supergene mineralisation.
Drilling will focus on extensions of the known high-grade mineralisation to the north, south and west.
Once drilling wraps up at C3, the rig will move to the C1 prospect to target shallow VMS mineralisation where observations have noted less weathering.
As C1 has less weathering, the rig will be able to target the mineralisation quickly and effectively.
Alvo expects to receive the results in three to five weeks post drilling.
“At C3, diamond drilling to upgrade the historical resource has been our focus to date and the results have been spectacular. We are now energised by advancing exploration activities aimed at extending the high-grade mineralisation,” Managing Director Rob Smakman said.
“The RC drill rig will commence shortly, with the view to expand the strike extent of VMS
mineralisation as well as test the potential shallow supergene mineralisation first identified during phase one drilling.”
Additionally, a sampling program is underway at C3 with samples to be sent to the laboratory in the coming weeks.
Based on the results from this sampling, phase two diamond drilling will be undertaken with a focus on extensional targets defined in the previous work.
Alvo Minerals was up 6.38 per cent with shares trading at 25 cents at 1:52 pm AEST.
