Bluebush Contract Completion and Drilling Results
Key points
- Bluebush drilling delivers high-grade HREE mineralization
- Average DyTb content of 26ppm in significant intercepts
- Contract completion with Bluebush vendors on terms mirroring the original MOU
Full summary
Alvo Minerals Limited has completed diamond and auger drilling at its Bluebush Ionic Adsorption Clay (IAC) Heavy Rare Earth Element (HREE) Project in Brazil, delivering thick intercepts enriched with Dysprosium and Terbium (DyTb). The project shares geological settings with the Serra Verde HREE IAC mine, recently acquired by USA Rare Earth Ltd for US$2.8 billion. Assay results indicate an average DyTb content of 26ppm, with significant intercepts including 5.0m @ 1,390ppm TREO (68ppm DyTb) and 19.5m @ 1,324ppm TREO (38 ppm DyTb). Alvo has finalized the purchase contract with Bluebush vendors on terms mirroring the original MOU, expanding its tenure to 9,859ha.
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