Australia-based critical minerals exploration company Alvo Minerals has acquired the Ipora REE exploration project in central Brazil.

The project targets the Iporá alkaline intrusive complex, which is considered highly prospective for REEs, potentially of the valuable ionic clay type.

Alvo applied for 13 new tenements in the Goias state, near the city of Iporá, approximately 600km from Alvo's existing exploration base in Brazil and 250km from the state capital of Goiania.

The Brazilian Mines Department granted the first of these tenements on 26 January 2024.

Ipora is situated within the Tocantins structural province in the Brasilia fold belt. This district is known for REE deposits such as Bluebush (Alvo), Pela Ema (Serra Verde), Carina Module and the PCH project.

Desktop work and general reconnaissance are currently in progress at Ipora, with fieldwork scheduled to start once the majority of the areas are granted, which is anticipated in the upcoming weeks.

The Ipora project comprises three prospect areas, Tapir, Tatu and Snapper.

Alvo's geologists selected these areas for their geological and geophysical signatures, which are considered similar to the nearby discoveries by Appia at their Target IV and Buruti prospects.

Notably, the Tapir and Snapper project areas are interpreted to host alkaline intrusives, akin to and along strike from Appia's recent discovery from reverse circulation drilling at Target IV.

Alvo managing director Rob Smakman said: “We are thrilled to acquire the Ipora project after our in-house team identified the region as highly prospective for ionic clay hosted rare earths.

“Having visited the project area last week, we are confident that the knowledge we have gained from exploring at Bluebush will help us quickly and effectively explore Ipora.

“We will continue looking for opportunities that mesh with our strategy of being an Active Brazilian Critical Minerals Explorer while advancing at Bluebush and Palma."