Alvo Minerals Limited is a base and precious metals exploration company, with a focus on the under explored Palmeiropolis region of central Brazil. Alvo identified this region in 2018 when the Brazilian Federal Geological Survey department announced a public auction for their Palmeiropolis Volcanogenic Hosted Massive Sulphide (VMS) Project .
Alvo participated in this auction and eventually acquired an option to undertake exploration on the Palmeiropolis Tenements and acquire 100% ownership in those tenements, subject to various conditions. Following the success of the auction, Alvo set about consolidating the acquisition of interests in various surrounding exploration permits into the control of Alvo and its subsidiaries. The Consolidated exploration tenure is called the Palma Project.
The Palma Project comprises approximately >500km2 of granted exploration licences and applications, including 30km of strike of the prospective VMS geological lithologies. The Palma Project’s key tenements, were the subject of extensive historical work completed in the 1970’s and 80’s and resulted in the identification of advanced targets of VMS mineralisation. Considering that VMS mineralisation often occurs in clusters, Palma represents an outstanding opportunity for Alvo to explore a district scale VMS Project.
The two main prospects within the Palmeiropolis Tenements (the ‘C1’ and ‘C3’ advanced prospects) are the subject of an estimated inferred mineral resource compliant with JORC Code 2012. Alvo’s inferred mineral resource totals 4.6M tonnes, primarily comprised of 179,000 tonnes of zinc, 44,000 tonnes of copper and 3Moz of silver, (determined at an NSR cut-off rate of US$60/t).
The Company intends to aggressively explore the Palma Project for VMS style mineralisation. Exploration and project development work will follow systematic and results based program- scheduled to start once the IPO is complete.
Alvo’s exploration strategy will focus on three distinct target types, described as Upgrade, Expand, Discover:
- Upgrade: involves infill drilling around the known resources at ‘C1’ and ‘C3’ to increase the confidence of these resources.
- Expand: focuses on the known mineralised zones at ‘C1’, ‘C3’ and ‘C4’ to increase the overall size of the mineralisation.
- Discover: exploration and drilling drilling on new and promising prospects – aiming for new discoveries.
The Company is assembling an experienced exploration team in Brazil and will aggressively and systematically explore the Palma Project with a view to, in time, evolve into a developer and ultimately producer of base and precious metals.