Alvo Minerals (ASX: ALV) has hit massive, semi-massive, and disseminated sulphides in the initial diamond hole drilled at the recently discovered Touro prospect within its its 100%-owned Palma project in Brazil.
The mineralisation also contains as much as 7.5% zinc, 0.2% copper, and 1.0% lead, supported by coincidence soil and auger geochemical anomalies, trench sampling, and two fixed loop electromagnetic (FLEM) conductors.
Touro features a mineralised trend that extends for more than 1,100m at a width of approximately 40m.
Down-Dip Extensions
The company has mobilised the rig to a second hole, where it is testing for the down-dip extensions of the gossans approximately 500 metres to the north.
It expects assay results within six to eight weeks.
Drilling is yet to target the FLEM conductor plates, which commence approximately 100m deeper than the sulphides intercepted in this initial hole, which Alvo sees as presenting an exciting deeper target.
The company is now planning to initiate a downhole electromagnetic survey in the diamond hole to test for conductors not encountered in the earlier FLEM surveys.
‘Thrilling’ Discovery
Managing director Rob Smakman said the company was “thrilled” with the discovery.
"Drilling is the ultimate test, and intersecting such wide, shallow, and potentially high-grade mineralisation is an exciting result for the first ever drill hole completed at this new target," he said.
"The scale of the Touro prospect is impressive […], and with the FLEM plates extending well below the surface, we may be drilling here for a while—just to find the edges."
The Palma project hosts a total estimated mineral resource of 7.6 million tonnes at 2.02% copper equivalent (or 6.2% zinc equivalent) for 153,000t of contained copper equivalent (0.7% copper, 3.4% zinc, 0.6% lead, 16g/t silver, and 0.03 g/t gold ).
