Alvo Minerals (ASX: ALV) has encountered ‘high-grade’ copper-zinc visible massive sulphides following phase 1 diamond drilling at the C3 deposit within its Palmer Project in Central Brazil.
The results include ‘exceptional’ polymetallic widths and grades with highlights including:
- Hole PD3-018: 15m @ 2.89% Cu, 4.41% Zn, 0.33% Pb, 29.80g/t Ag and 0.09g/t Au from 71m, incl.
- 7m @ 5.24% Cu, 8.01% Zn, 0.33% Pb, 49.71g/t Ag and 0.16g/t Au from 73m
- Hole PD3-018: 38m @ 0.60% Cu and 0.91% Zn from 13m (supergene)
- Hole PD3-014: 16m @ 1.81% Cu, 14.23% Zn, 0.37% Pb, 20.53g/t Ag and 0.04g/t Au from 252m, incl.
- 7.4m @ 2.20% Cu, 23.13% Zn, 0.60% Pb, 30.28g/t Ag and 0.06g/t Au from 259m
- Hole PD3-013: 17.7m @ 0.98% Cu, 3.35% Zn, 0.05% Pb, 6.27g/t Ag and 0.06g/t Au from 319m, incl.
- 4m @ 1.88% Cu, 14.10% Zn, 0.08% Pb, 12.63g/t Ag and 0.08g/t Au from 330m
Speaking on the results, Alvo Minerals’ Managing Director Rob Smakman said: “The final set of assay results from the first phase of drilling at C3 continues to reinforce the consistency of high-grade mineralisation and highlights the potential for materially expanding the existing JORC Resource. We will be returning to drill multiple extensions at C3 once we have completed geophysical targeting.
“The final set of assay results from the first phase of drilling at C3 continues to reinforce the consistency of high-grade mineralisation”
At C1, initial drilling has revealed a different style of mineralisation where we have intersected broad zones of massive and semi-massive sulphides with significantly less (unmineralized) pyrrhotite. We have been more aggressive with our drilling at C1 and noted a strong structural control on mineralisation with a folded high-grade zone plunging shallowly to the south. Assay results will start to flow from C1 shortly, and we are confident the historical work will be confirmed and expanded.
In addition to the diamond drilling that [has] been our primary focus and delivered spectacular results, we are beginning to commence metallurgical test work and look forward to ground geophysical equipment arrive on site to refine our targeting for future drill programs. It’s exciting times for Alvo.”
The company notes that these results indicate that mineralisation remains open to the north-east, and expands the high-grade central zone of the deposit.
In addition, visible massive sulphide mineralisation has been identified at the C1 deposit following further diamond drilling that includes a broad 21m zone of massive to semi-massive VMS mineralisation from 141m.
Map of key intercepts at the C3 prospectAlvo’s 80%-owned Palma Project is located in central Brazil, and boasts an existing JORC 2012 Inferred Mineral Resource Estimate of 4.6Mt @ 1% Cu, 3.9% Zn, 0.4% Pb and 20ppm Ag.
With the phase 1 diamond drilling at C3 now complete, the company reports that it will move forward with phase 2 work subject to results from DHEM and FLEM surveys that are now underway.
Both diamond drill rigs have been moved to the C1 deposit where the maiden 10,000m drill program will continue.
Images: Alvo Minerals Limited
