Palma Project Gravity Survey Reveals 7.6Mt Resource Expansion Potential

New Horizons at Palma

Alvo Minerals Limited (ASX – ALV) has announced a significant step forward in its exploration program at the Palma Copper-Zinc Project in central Brazil. A detailed ground gravity survey, conducted in partnership with the Brazilian Geological Survey (SGB), has delineated three high-priority untested drill targets, Targets A, B, and C, adjacent to the existing C1 deposit. These anomalies suggest the presence of dense, potentially mineralised massive sulphides typical of Volcanogenic Massive Sulphide (VMS) deposits.

Gravity and Electromagnetic Insights

The survey revealed Target A as a gravity high approximately 500 meters long and 150 meters wide on the eastern flank of C1, interpreted as a down-dip extension of the deposit’s eastern limb, an area known for hosting the highest volume of massive sulphides. Target B, located 500 meters south of C1, is a large gravity anomaly (~750m x 200m) that may represent an offset continuation of the main deposit, disrupted by a southeast fault. Target C, about 600 meters west of C1, is a broad 500m by 500m gravity anomaly coincident with zinc, lead, and copper soil anomalies, indicating mineralisation potential in a relatively unexplored area.

Complementary geophysical data bolster these findings. Downhole electromagnetic (DHEM) surveys at Target A align with the gravity high, while fixed-loop electromagnetic (FLEM) surveys at Target B have identified three new conductors consistent with those at C1. These integrated datasets provide a compelling case for advancing these targets toward drilling.

Palma’s Growing Resource Potential

The Palma Project already boasts a JORC 2012 Mineral Resource Estimate of 7.6 million tonnes at 2% copper equivalent, encompassing copper, zinc, lead, silver, and gold. The C1 deposit alone contains 2.5 million tonnes at 1.8% copper equivalent. All deposits remain open along strike and at depth, underscoring the district’s exploration upside. Alvo’s in-house expertise and access to advanced geophysical tools enable a cost-effective, data-driven approach to refining targets and expanding the resource base.

Strategic Exploration and Next Steps

Following the gravity survey results, Alvo is conducting further geological mapping, auger drilling, and additional electromagnetic and induced polarisation surveys to prepare these targets for drilling. The company’s partnership with SGB continues to be a cornerstone of its exploration strategy, combining scientific rigour with operational efficiency. Beyond Palma, Alvo is actively reviewing other copper, gold, and rare earth element projects in Brazil, signaling a broadening portfolio and growth ambitions.

Managing Director Rob Smakman highlighted the value of layering exploration data to enhance targeting precision, expressing confidence that these new anomalies could significantly contribute to Palma’s inventory. The company’s methodical approach reflects a mature exploration philosophy aimed at sustainable growth and value creation.