Reconstructing complex brain source activity at a high spatiotemporal resolution from magnetoencephalography (MEG) or electroencephalography (EEG) remains a challenging problem. Adaptive beamformers are routinely deployed for this imaging domain using the sample data covariance. However adaptive beamformers have long been hindered by 1) high degree of correlation between multiple brain sources, and 2) interference and noise embedded in sensor measurements. This study develops a novel framework for minimum variance adaptive beamformers that uses a model data covariance learned from data using a sparse Bayesian learning algorithm (SBL-BF). The learned model data covariance effectively removes influence from correlated brain sources and is robust to noise and interference without the need for baseline measurements. A multiresolution framework for model data covariance computation and parallelization of the beamformer implementation enables efficient high-resolution reconstruction images. Results with both simulations and real datasets indicate that multiple highly correlated sources can be accurately reconstructed, and that interference and noise can be sufficiently suppressed. Reconstructions at 2-2.5mm resolution ( ∼ 150K voxels) are possible with efficient run times of 1-3 minutes. This novel adaptive beamforming algorithm significantly outperforms the state-of-the-art benchmarks. Therefore, SBL-BF provides an effective framework for efficiently reconstructing multiple correlated brain sources with high resolution and robustness to interference and noise.