Alvo Minerals (ASX:ALV) has advanced its maiden auger drilling program at the Bluebush Rare Earth Element (REE) Project in Central Brazil, with 58-holes for 472m completed in the area.
The $25.54 million market capitalisation company says drilling is targeting multiple prospects across the project, with the aim of testing and expanding on positive results reported by the project vendor.
Alvo adds that the first laboratory assays from the SGS lab in Brazil are anticipated within the next 2 weeks, with a second and ‘larger’ sample lot expected between early and mid August 2023.
Commenting on the project’s activities, Alvo Minerals Managing Director Rob Smakman says: “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”
We are well on track to make a sound decision based on results, with first assays expected in the next few weeks.”
The company says field reconnaissance over the most prospective areas for thick and mineralised saprolite horizons is also planned but requires access from local landowners for exploration activities.
Alvo Minerals is a base and precious metals exploration company uncovering ‘high-grade’ copper and zinc at its flagship Palma Project in Central Brazil.
Images: Alvo Minerals Ltd
