Alvo Minerals Confirms Extensive Copper-Zinc Mineralisation at Touro Prospect

Touro Prospect Assays Validate Early Visual Mineralisation

Alvo Minerals (ASX:ALV) has reinforced the significance of its recent discovery at the Touro Prospect within the Palma Copper-Zinc Project, reporting assay results from five initial drill holes that confirm the presence of copper and zinc sulphides along a 750-metre strike. Highlights include a standout intercept of 4.7 metres grading 1.8% copper equivalent (CuEq), featuring 0.95% copper and 2.65% zinc, alongside precious metals such as silver and gold. These results back up earlier visual estimations of mineralisation, which had already suggested a substantial sulphide system.

Drilling to date has consistently intersected massive, semi-massive, or disseminated sulphides, with the mineralised zone extending over 1.1 kilometres at surface and plunging to depths of up to 750 metres. The company has completed 11 holes totaling nearly 2,000 metres at Touro, with assays pending for four additional holes. This ongoing exploration effort aims to test deeper electromagnetic conductors that extend for over 2 kilometres along strike, potentially expanding the known mineralisation footprint.

These assay results build on earlier findings and confirm the visual mineralisation reported in previous drilling campaigns, adding weight to the prospect’s potential to materially enhance the Palma Project’s resource base. The drilling program and geophysical surveys at Touro have been designed to integrate geology, geochemistry, and electromagnetic data to refine target zones for further testing. This approach is unique among peers, leveraging Alvo’s in-house expertise and technology to maintain cost-effective exploration.
Such progress at Touro follows the company’s earlier announcements of significant sulphide intercepts, including the initial discovery hole that sparked market interest last year. The current data aligns with the company’s strategy to aggressively explore and grow its copper-zinc resources in Brazil, as detailed in the major copper-zinc discovery at Touro Prospect and high-grade Cu-Zn-Ag-Au discovery at Touro reports.

Expanding Exploration at Palma with New Targets

Beyond Touro, Alvo has initiated diamond drilling at the Esperanza Prospect, located approximately 3 kilometres southeast of the high-grade C3 deposit. Esperanza hosts a north-south trending copper, zinc, and lead anomaly extending over 1 kilometre, supported by soil and auger geochemistry and coincident electromagnetic conductors. Drilling will target both shallow geochemical anomalies and deeper conductors identified by fixed loop electromagnetic (FLEM) surveys.

The Entre Rios Prospect, about 12 kilometres southeast of Palma’s C1 deposit, is also slated for drilling in the upcoming quarter. This prospect features a folded felsic schist and metatuff host within an amphibolite unit, a geological setting favourable for volcanic massive sulphide (VMS) mineralisation. Ground geophysical surveys have revealed strong chargeability and conductivity anomalies, making it a compelling target for Alvo’s exploration team.

Review of Rare Earth Element Projects and Corporate Update

In parallel with its base metals exploration, Alvo is conducting a detailed review of its Bluebush and Ipora Rare Earth Element (REE) projects in central Brazil. These assets are prospective for ionic clay-type REEs, which are increasingly critical in global supply chains. The review includes vendor engagement and strategic evaluation, with an update expected soon.

On the corporate front, Alvo appointed Joanna Morbey as Company Secretary effective 1 April 2026, bringing over 30 years of experience in accounting and company secretarial roles across mining and investment sectors. This change follows the resignation of Carol Marinkovich, who served since the company’s ASX listing in 2021.

Financial Position and Operational Outlook

Alvo reported a net operating cash outflow of A$1.031 million for the March quarter, with cash reserves standing at A$808,000 at quarter-end. The company acknowledges the limited runway but indicates management’s confidence in multiple funding pathways to sustain operations. Meanwhile, Alvo Services has commenced an extended rental contract for fixed loop electromagnetic equipment in northeast Brazil, generating additional revenue of approximately BRL250,000 in the quarter and bidding for further contracts.

While no mining production or development activities occurred during the quarter, the focus remains firmly on exploration growth, with assay results from recent drill holes at Touro, Esperanza, and Entre Rios expected imminently. These results will be critical in assessing the scale and grade potential of the Palma district, which already boasts a 7.6 million tonne resource at 2.02% CuEq, positioning it as a significant emerging VMS district in Brazil.