Announcement Date: 2022-08-30
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. 22m @ 0.87% Cu, 5.62% Zn, 1.26% Pb, 30.8g/t Ag, 0.04g/t Au from 50m
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 the final assay results from the phase 1 diamond drill program at the C1 prospect. Diamond drilling returned multiple shallow, thick and highgrade polymetallic intercepts (see Figures 1-3 and Table 1). The Company has completed the maiden 10,000m diamond drill program and given the strong results delivered to date has elected to extend the drill program, with total diamond drilling at Palma Project now passing 12,000m. Both diamond drill rigs are currently operating at C3 testing extensions to high-grade VMS mineralisation and several new discovery targets including Mafico and Ema (previously C3 West). The VMS mineralisation intercepted to date at C1 varies between massive, semi-massive and disseminated with the overall geometry demonstrating a thickened massive/semi-massive zone along an interpreted fold hinge which plunges shallowly to the south. This high-grade polymetallic zone extends for about 600m along strike and is shallow, starting from approximately 25m below surface. The supergene mineralisation intercepted in hole PD1-032 was the first occurrence at C1 and is similar to the supergene zone at C3. However, due to the shallow weathering profile at C1, it is expected the overall supergene zone will be less significant than the zones drilled at C3 to date.
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