Alvo Minerals Reports Maiden Drilling Discovery at Florence Prospect With pXRF Readings Above 3,000ppm XREO

Anjali Anand

06 November 2026 11:23 AM AEDT

Alvo Minerals Reports Maiden Drilling Discovery at Florence Prospect With pXRF Readings Above 3,000ppm XREO

Image Source: Krish Capital Pty Ltd

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Alvo Minerals (ASX:ALV) has disclosed maiden auger drilling results from the Florence prospect at its Bluebush IAC HREE Project in Tocantins, Central Brazil, with portable X-ray fluorescence (pXRF) analyses intersecting rare earth enriched clays from surface across an area of approximately 2.0 kilometres east to west by 1.4 kilometres north to south.

Key Points

55 auger holes drilled for 370 metres at Florence, with pXRF analyses indicating rare earth enriched clays from surface across approximately 2.0km by 1.4km
Hole BLH0289 returned 5.7m at 1,393ppm XREO from 1m, with the hole ending in mineralisation grading 3,396ppm XREO
Eight of 55 holes returned at least one reading above 1,000ppm XREO; 32 holes recorded readings above 500ppm XREO
Florence prospect covers approximately 656 hectares on the Serra Dourada granite, approximately 6km south of the Boa Vista prospect
Florence samples are to be submitted to SGS Geosol for full rare earth and desorption assays; no laboratory assay results are reported in this filing

Florence Prospect Drilling Results

The 55 auger holes at Florence were drilled on a reconnaissance pattern with samples taken at one-metre intervals and analysed by pXRF. The highest readings were concentrated in a western cluster. Key intercepts include 5.5m at 1,218ppm XREO from surface in BLH0290, including 4.5m at 1,320ppm XREO from 1m, with the hole ending in mineralisation grading 1,268ppm XREO; 8m at 1,025ppm XREO from surface in BLH0293, ending in mineralisation grading 1,223ppm XREO; and 5m at 1,004ppm XREO from 2m in BLH0265, including 3m at 1,089ppm XREO from 3m. The filing states many handheld auger holes stopped before reaching fresh granite and ended in mineralisation.

pXRF Methodology and Laboratory Assay Status

The filing states that pXRF results are preliminary and should not be regarded as a substitute for laboratory assays. The XREO value reported is calculated as the sum of cerium oxide, lanthanum oxide and yttrium oxide only, and is not equivalent to laboratory total rare earth oxide (TREO). Laboratory assays are pending and expected over coming months, and will report TREO grades including terbium, dysprosium, yttrium, neodymium and praseodymium. According to the filing, pXRF results for XREO correlated strongly with subsequent laboratory TREO results at Boa Vista, with laboratory results generally higher than pXRF readings.

Florence Tenement and Earn-In Terms

The Florence prospect covers approximately 656 hectares on the Serra Dourada granite, south of the Boa Vista prospect. Alvo is earning up to an 85% interest in the Florence tenement through its Brazilian subsidiary, Lanta Resources Ltda. Drilling at Florence commenced in October 2026. The filing states that next steps include sending Florence samples to SGS Geosol for full rare earth and desorption assays, alongside reporting on pending results from Boa Vista, where Mineral Resource Estimate infill drilling is disclosed as underway. Managing Director Rob Smakman stated the company is working toward a maiden Mineral Resource Estimate at Bluebush.

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