Alvo minerals secures Brazilian rare earth tenement

• Alvo Minerals signed a binding earn-in agreement for a 656-hectare tenement near the Bluebush heavy rare earth element project in Brazil.
• The company's share price was up at $0.024 following the announcement on the Australian Securities Exchange.
• The agreement aligns with the company strategy to expand its operational footprint over the northern Serra Dourada granite.

Alvo Minerals (ASX:ALV) executed a binding earn-in agreement through its subsidiary to acquire up to an 85% interest in a 656-hectare tenement located close to the Bluebush project in Brazil.

The new tenement sits south of the Boa Vista prospects and shares geological similarities with the region that hosts the Serra Verde heavy rare earth mine.

"This is another important addition to our growing HREE Project on the northern half of Serra Dourada, and when coupled with the recent EZX area addition, we have effectively doubled our footprint of prospective granite under Alvo," said Alvo Minerals Managing Director Robert Smakman.

The agreement requires Alvo Minerals to pay an initial US$20,000 deposit and conduct exploration activities that meet specific Brazilian Mines Department milestones.

The company stated that exploration work involving auger crews and geologists is scheduled to start as early as the following week.

Following the announcement, the Alvo Minerals share price was up at $0.024.

Alvo Minerals focuses on critical mineral exploration in Brazil, maintaining project assets that include the Palma copper-zinc project and the Bluebush and Ipora rare earth element projects.

The current transaction builds on prior operational steps by the company to increase its tenement holdings across prospective granite formations in the region.