Alvo Minerals (ASX: ALV) Signs LOI to Acquire Lavra Velha Gold-Copper Project in Brazil

Mon 31 Mar 25, 03:04 AM | Team Kalkine

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Highlights

Alvo Minerals Limited (ASX: ALV) has announced a non-binding Letter of Intent (LOI) to acquire 100% of Pan American Silver Corp.’s (NYSE: PAAS) interest in the Lavra Velha Gold-Copper Project, located in Bahia State, Brazil. The project, which was deemed non-core following Pan American’s acquisition of Yamana Gold in 2022, offers significant exploration potential.

The acquisition is subject to conditions, including the completion of satisfactory due diligence and the signing of an Asset Purchase Agreement (APA). Lavra Velha is an advanced Gold-Copper-Silver project that has undergone extensive exploration, including over 50,000 meters of diamond drilling and 6,000 meters of RAB drilling. The project is situated in the Sao Francisco craton, a region with a long history of gold and copper production.

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