Announcement Date: 2022-05-03
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Alvo Minerals Ltd.
Project name: Palma
Location: Brazil
Commodities: Gold,Silver,Copper,Lead,Zinc
Highlight: Drilling results incl. 15.0m @ 2.89% Cu, 4.41% Zn, 0.33% Pb, 29.8g/t Ag, 0.09g/t Au from 71m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: 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. 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 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.
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