Alvo Minerals Limited (ASX: ALV) (Alvo or the Company) is pleased to announce final assay results from the phase 1 diamond drill program at the C3 deposit, delivering exceptional wide and high-grade Cu-Zn VMS intercepts. The Company continues its maiden 10,000m drill program with both diamond drill rigs operating at the C1 deposit and Alvo continues to progress early exploration and targeting activities across the Palma Project


HIGHLIGHTS
  • Final assay results from Phase 1 of the maiden diamond drill program at C3 have been received, continuing to deliver exceptional high-grade polymetallic widths and grade. Highlights include;
    • PD3-018: 15.0m @ 2.89% Cu, 4.41% Zn, 0.33% Pb, 29.80g/t Ag & 0.09g/t Au from 71m
      • Inc. 7.0m @ 5.24% Cu, 8.01% Zn, 0.33% Pb, 49.71g/t Ag & 0.16g/t Au from 73m
    • PD3-018: 38.0m @ 0.60% Cu & 0.91% Zn from 13m (supergene) o PD3-014: 16.0m @ 1.81% Cu, 14.23% Zn, 0.37% Pb, 20.53g/t Ag & 0.04g/t Au from 252m
      • Inc. 7.4m@ 2.20% Cu, 23.13% Zn, 0.60% Pb, 30.28g/t Ag & 0.06g/t Au from 259m
    • PD3-013: 17.7m @ 0.98% Cu, 3.35% Zn, 0.05% Pb, 6.27g/t Ag & 0.06g/t Au from 319m
      • Inc. 4.0m @ 1.88% Cu, 14.10% Zn, 0.08% Pb, 12.63g/t Ag & 0.08g/t Au from 330m
  • Hole PD3-018 is the northernmost hole drilled to date and delivered an exceptional shallow, thick and high-grade intercept with mineralisation open to the NE
  • Hole PD3-013 is the deepest intercept to date, expanding the high-grade central zone
  • Phase 2 drilling at C3 will be undertaken based on geophysical surveys including Downhole and Fixed Loop Electromagnetic Surveys (DHEM & FLEM) planned for the current quarter
    • Geophysical equipment for DHEM & FLEM on route to Brazil
  • Both diamond drill rigs have moved to C1 where the maiden 10,000m drill program continues
    • Significant visual massive sulphide mineralisation intersected at C1, including a broad 21.0m zone of massive to semi-massive VMS mineralisation from 141m
  • Metallurgical testwork underway, directed by specialist consultants in an independent Australian lab

Alvo Minerals’ Managing Director, Rob Smakman, commented on the ongoing exploration:

"The final set of assay results from the first phase of drilling at C3 continues to reinforce the consistency of highgrade 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.

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 (unmineralised) pyrrhotite. We have been more aggressive with our drilling at C1 and noted a strong structural control on mineralisation with a folded highgrade zone plunging shallowly to the south. Assay results will start to flow from C1 shorty, and we are confident the historical work will be confirmed and expanded.

In addition to the diamond drilling that 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.”

VMS and Supergene Mineralisation from Diamond Drilling at C3

The mineralised intercepts reported below in Table 1, include significant intercepts from holes PD3-013 to PD3- 018 which were targeting the VMS and supergene mineralisation at the C3 prospect.

Hole PD3-018 (see Figures 1 & 2) is the northernmost hole drilled by Alvo to date and indicates the VMS and supergene mineralisation is open to the north-east. This hole intercepted a broad high-grade zone of VMS mineralisation from 71m. This intercept appears to confirm earlier observations of historical drilling where the Cu-Zn ratio and the Ag content appear to be increasing to the north.

  • PD3-018: 15.0m @ 2.89% Cu, 4.41% Zn, 0.33% Pb, 29.80g/t Ag & 0.09g/t Au from 71m
    • Inc. 7.0m @ 5.24% Cu, 8.01% Zn, 0.33% Pb, 49.71g/t Ag & 0.16g/t Au from 73m

PD3-018 also intercepted a broad zone of supergene mineralisation from 13m downhole. This intercept expands the potential of the supergene zone to at least 200m along strike, however the full extent of this potentially significant zone is likely to be larger given the only holes that have intercepted the supergene mineralisation to date are the shallow holes close to the outcropping gossan.

  • PD3-018: 38.0m @ 0.60% Cu & 0.91% Zn from 13m (supergene)

Hole PD3-014 is the deepest hole drilled on section 3 (see Figures 1 & 3) and adds to the exceptional results the central zone has returned to date alongside holes PD3-012 and PD3-0081 , which were the widest and highestgrade intercepts on their respective cross sections. Mineralisation remains open at depth and Alvo will target the extensions of the central zone in the Phase 2 diamond drilling program at C3.

  • PD3-014: 16.0m @ 1.81% Cu, 14.23% Zn, 0.37% Pb, 20.53 g/t Ag & 0.04 g/t Au from 252m
    • Inc. 7.42m @ 2.20% Cu, 23.13% Zn, 0.6% Pb, 30.28 g/t Ag & 0.06g/t Au from 259m

Hole PD3-013 is Alvo’s deepest hit to date from holes targeting the VMS mineralisation and returned an impressive intercept (see Figures 1 & 4). There are several historical holes drilled off-section (on a different azimuth) by the CPRM which are projected to intercept at similar levels on this section. Additional drilling in this section/area is required to confidently interpret the geometry, however the mineralisation remains open at depth- extending the high-grade zone in the central zone to >200m of strike length.

  • PD3-013: 17.70m @ 0.98% Cu, 3.35% Zn, 0.05% Pb, 6.27 g/t Ag & 0.06 g/t Au from 319m
    • Inc. 4.03m @ 1.88% Cu, 14.10% Zn, 0.08% Pb, 12.63 g/t Ag & 0.08g/t Au from 330.02m


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This article includes content from Alvo Minerals Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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