The ALV drill results were pretty much ignored today and the share price went down instead.
73 million SOI x .18 = $13 million market cap
Has more than $5 million in cash.
Check out the announcement.
ALVO DELIVERS DRILLING INTERCEPTS UP TO 4.3% Cu, 17.5% Zn & 184g/t Ag Diamond drilling delivers thick, shallow and high-grade intercepts at the C1 Prospect
HIGHLIGHTS
• The Palma VMS Project continues to deliver significant base and precious metals results from the C1 prospect.
• Grades from the phase 1 drill program at C1 and C3 compare favourably with intercepts in historical drilling -used in the reported JORC Mineral Resource Estimate (MRE) of 4.6Mt @ 1.0% Cu, 3.9% Zn, 0.4% Pb & 20g/t Ag
• Final assay results received from the phase 1 drill program at C1 continue to define multiple shallow, thick and high-grade polymetallic intercepts.
Highlights include:
o PD1-039: 22.0m @ 0.87% Cu, 5.62% Zn, 1.26% Pb, 30.8g/t Ag & 0.04g/t Au from 50m
o Inc. 5.7m @ 1.45% Cu, 16.90% Zn, 3.63% Pb, 80.9g/t Ag & 0.08g/t Au from 59m
o PD1-037: 2.0m @ 4.32% Cu, 17.45% Zn, 4.78% Pb, 184.2g/t Ag & 0.31g/t Au from 111m
o PD1-043: 4.6m @ 0.67% Cu, 7.10% Zn, 1.72% Pb, 29.0g/t Ag & 0.04g/t Au from 41m o Inc. 1.4m @ 1.76% Cu, 20.92% Zn, 5.42% Pb, 91.2g/t Ag & 0.11g/t Au from 43m
o PD1-044: 10.9m @ 0.60% Cu, 3.00% Zn, 0.81% Pb, 16.5g/t Ag & 0.01g/t Au from 60m o Inc. 2.5m @ 1.13% Cu, 9.93% Zn, 2.14% Pb, 56.5g/t Ag & 0.04g/t Au from 68m
o PD1-045: 2.0m @ 1.98% Cu, 14.37% Zn, 3.35% Pb, 81.9g/t Ag & 0.14g/t Au from 65m
• Phase 1 drill programs are complete and have significantly increased the Company’s confidence for the phase 2 that will take aggressive step-outs to test extensions to existing high-grade VMS mineralisation o Both drill rigs have relocated and are operating at the C3 prospect, testing both extensions and discovery targets at Mafico and Ema (previously C3 West) located within 800m of the C3 prospect o Based on the strong results at Palma the maiden 10,000m program has been extended
