Alvo Minerals Limited has signed a binding earn-in agreement to acquire up to an 85% interest in the 656-hectare Florêncio tenement in Brazil, expanding its footprint over the northern Serra Dourada granite.

The ground sits near Alvo’s Boa Vista prospect at the Bluebush heavy rare earth element project. Under the agreement, ownership increases across three stages tied to Brazilian Mines Department milestones. Lanta will hold a 55% share upon completing Stage 1 basic exploration and lodging a partial positive exploration report, rising to 75% after Stage 2 deeper exploration, and reaching 85% following Stage 3 work for a pre-feasibility level study report. There are no minimum expenditure commitments for the stages.

Total financial consideration is US$50,000, payable in three tranches. Alvo has paid an initial US$20,000 deposit, with subsequent payments of US$15,000 due on March 10, 2027, and US$15,000 on October 8, 2027. Alvo will fund 100% of research and title costs through the end of Stage 3.

The acquisition is consistent with Alvo's strategy to build a district-scale footprint over the northern half of the Serra Dourada granite. By comparison, an earlier Bluebush tenement acquisition covered 575 hectares for a cash consideration of US$210,000 to secure 100% ownership, while the newer Florêncio transaction covers a larger area structured as an earn-in for a lower total consideration.

“Exploration will start immediately, with our auger crew and geologists planning activities as early as next week. We are confident in the HREE prospectivity as the tenement appears to share Boa Vista's host geology, weathering profile and geomorphological signature.”

“The new ground sits entirely on the Serra Dourada granite, the setting of the world-class Serra Verde heavy rare earth mine which is being sold for USD$2.8B. Serra Verde is unique in that it is one of the few mines outside of China producing the most critical heavy rare earths at scale from an ionic clay source.” — Rob Smakman, Managing Director

Fieldwork will integrate the newly acquired ground into the existing Bluebush geological and geochemical exploration database. Planned activities include auger drilling, geological mapping, geophysical surveys, drillhole assaying, and preliminary rare earth extractions.

Read the full announcement: Earn-In expands Footprint near Bluebush REE, Brazil