ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced assay results for 562
soil and 56 rock samples collected from the Santo Amaro target area
at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”)
Project in northeastern Brazil.
“The Santo Amaro region has moved up our
exploration priority list as impressive PGE results were generated
through rock and soil sampling, geological mapping, and 2020
diamond core drilling,” stated ValOre’s Chairman and CEO, Jim
Paterson. “ValOre’s team continues to unlock more value at Santo
Amaro with targeted Trado® auger drilling and trenching programs
prior to the return of the drill rigs this season.”
Santo Amaro PGE Assay
Highlights:
- Multiple
high-grade PGE assay results from rock samples collected outside
current Santo Amaro NI 43-101 inferred resource area, including:
- 19.1 grams per
tonne palladium + platinum + gold (“g/t 2PGE+Au”), sampled 190
metres (“m”) northwest of Santo Amaro resource
- 10.2 g/t
2PGE+Au, sampled 290 m northwest of Santo Amaro resource
- 7.10 g/t
2PGE+Au, sampled 50 m northwest of Santo Amaro resource
- 2.12 g/t
2PGE+Au, sampled 400 m northwest of Santo Amaro resource
- 2.10 g/t
2PGE+Au, sampled 425 m northwest of Santo Amaro resource
- 1.76 g/t
2PGE+Au, sampled 360 m southeast of Santo Amaro resource
- 1.16 g/t
2PGE+Au, sampled 800 m north of Santo Amaro resource;
- Multiple new,
undrilled anomalies established outside of NI 43-101-defined
resource area:
- North-south
trending PGE-in-soils anomalies (500 and 600 m trends)
- Northwest trend
of high to medium grade PGE rock samples (450 m trend);
- PGE anomalies
remain open to the north and south of current surface sampling
coverage;
- A north-south
trending PGE-in-soils anomaly may connect Santo Amaro resource to
the Santo Amaro South target, situated 1.5 kilometres (“km”) to the
south;
- High-priority
follow-up Trado® auger drilling and trenching program has commenced
to further define these multiple PGE anomalies.
Santo Amaro 2021 Soil and Rock Sampling
Program
Assay results for 562 soil and 56 rock samples
have been received for the Santo Amaro target area and significant
PGE-in-soil anomalies have been identified. Geochemical enrichment
of PGEs in soils has defined multiple new undrilled areas of
north-south trending PGE anomalies extending to the east (~250 m)
and west (~370 m) of the current Santo Amaro NI 43-101 resource
area. These anomalies remain open from the northern and southern
limits of sampling and are coincident with prospective near-surface
3D magnetic inversion targets.
Additionally, potential continuity exists
between the southernmost soil anomaly at Santo Amaro and the
largely unexplored Santo Amaro South target, situated 1.5 km to the
south. This suggests the presence of a contiguous ≥2.5 km long
ultramafic (“UM”) belt which may be associated with the Santo Amaro
resource that has only been drill tested over 600 m of this total
prospective geological trend.
High-grade PGE assays were returned for selected
rock grab samples collected from prospective zones outside of the
existing resource area, including a 19.1 g/t 2PGE+Au rock sample
190 m northwest of the resource, and a 10.2 g/t 2PGE+Au sample 290
m northwest of resource. A 7.51 g/t 2PGE+Au sample was also
collected near the collar location of 2020 drill hole DD20SA24.
Three additional rock samples situated 400 to 450 northwest of the
resource returned 2PGE+Au grades of 2.12 g/t, 2.10 g/t and 1.45
g/t, and an additional sample located 800 m north of the resource
returned a grade of 1.16 g/t 2PGE+Au. To the southeast of the
resource, a 1.78 g/t 2PGE+Au sample was returned from a newly
discovered tremolite (+chromitite) schist outcrop (360 m to the
southeast of the easternmost historical resource drill hole). See
Table 1 below for a summary of rock sample PGE assays, and CLICK
HERE for Figure 1, showing a location map for soil and rock assay
results reported herein.
Table 1: Santo Amaro Rock Assay
Highlights
Sample ID |
Lithology |
Easting |
Northing |
2PGE+Au (g/t) |
100527 |
Chromitite |
409016 |
9407775 |
19.10 |
100587 |
Chromitite |
408925 |
9407831 |
10.18 |
100524 |
Serpentinized Ultramafic |
409149 |
9407651 |
7.51 |
102340 |
Peridotite |
408858 |
9407906 |
2.12 |
102341 |
Peridotite |
408826 |
9407916 |
2.10 |
100585 |
Serpentinized Ultramafic |
409592 |
9407287 |
1.78 |
100588 |
Serpentinized Ultramafic |
408925 |
9407831 |
1.58 |
102342 |
Peridotite |
408812 |
9407934 |
1.45 |
102330 |
Peridotite |
409327 |
9408308 |
1.16 |
100591 |
Peridotite |
409082 |
9407819 |
0.92 |
100593 |
Peridotite |
409129 |
9407810 |
0.78 |
100586 |
Peridotite |
409079 |
9407629 |
0.57 |
100594 |
Peridotite |
409223 |
9407785 |
0.34 |
Santo Amaro Target Area and the 2019 NI
43-101 Resource
Santo Amaro is one of five defined PGE deposits
at Pedra Branca that together host an inferred resource totaling
1,067,000 ounces (“oz”) of 2PGE+Au contained in 27.2 million tonnes
(“Mt”) grading 1.22 g/t 2PGE+Au; CLICK HERE for the Pedra Branca NI
43-101 Technical Report. At Pedra Branca, PGE mineralization for
all five of the inferred resource deposit areas outcrops at
surface, giving these a reasonable expectation of eventual economic
extraction by open pit mining methods. CLICK HERE for Figure 2A and
2B, showing the location of the five Pedra Branca PGE resource
areas and a detailed view of the Santo Amaro target area.
The 2019 Santo Amaro inferred resource estimate
totals 203,000 oz 2PGE+Au contained in 5.3 Mt grading 1.19 g/t
2PGE+Au and represents the most underexplored deposit target area
at Pedra Branca. Extensive historical PGE-in-soils anomalies,
magnetic targets, and newly mapped, untested UM rock belts make
Santo Amaro a compelling target area for resource expansion and new
PGE discoveries. Geological mapping preceding the 2020 drill
program identified several prospective UM belts which extend well
beyond the area hosting the defined resource. A follow-up mapping,
soil sampling, rock sampling, and prospecting program is
on-going.
2020 Drilling, Santo Amaro
Target
In 2020, a total of 1,366 metres were drilled in
twelve core holes at Santo Amaro. PGE mineralization in the UM
intrusion that hosts the Santo Amaro resource was extended along
strike to the east and west as shown by at-surface and near-surface
PGE drill intercepts. Mineralization remains open in both
directions. In addition, a newly identified, shallow PGE-enriched
zone was drilled approximately 250 m north-northwest of the Santo
Amaro resource area (see ValOre’s news release dated January 15,
2021).
Quality Control/Quality Assurance
(“QA/QC”)
Soil samples were collected from field sites
spaced 20 metres apart on lines spaced 100 metres apart, with
coordinate data captured by handheld GPS. These samples were
subsequently stored in a secure ValOre facility in Capitão Mor,
Ceará, Brazil and thereafter sent with an ensured chain of custody
to SGS Geosol Vespasiano, an accredited mineral analysis laboratory
in Minas Gerais, for geochemical analyses. All samples are analyzed
for PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and
ICP-AES techniques. Certified PGE ore reference standards, blanks
and field duplicates are inserted as a part of the QA/QC
program.
Selected rock grab samples are collected from
field sites with coordinate data captured by handheld GPS and
subsequently stored in a secure ValOre facility in Capitão Mór,
Ceará, Brazil. The samples were then sent with an ensured chain of
custody to SGS Geosol Vespasiano, Minas Gerais for fire assay
analysis. All samples were analyzed for PGE+Gold (Pd, Pt, Au)
content using standard Fire Assay and ICP techniques. Cr values
that exceed 5% are redirected to ore grade pyrosulfate fusion and
XRF techniques to determine % Cr2O3. Certified PGE ore reference
standards, blanks and field duplicates are inserted as a part of
the QA/QC. No QA/QC issues were noted with the results reported
herein.
Qualified Person (QP)
The technical information in this news release
has been prepared in accordance with Canadian regulatory
requirements set out in NI 43-101 and reviewed and approved by
Colin Smith, P.Geo., ValOre’s QP, who oversees New Project Review
for ValOre.
About ValOre Metals Corp.
ValOre Metals Corp.
(TSX‐V: VO) is a
Canadian company with a portfolio of high‐quality exploration
projects. ValOre’s team aims to deploy capital and knowledge on
projects which benefit from substantial prior investment by
previous owners, existence of high-value mineralization on a large
scale, and the possibility of adding tangible value through
exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of
the Pedra Branca Platinum Group Elements (PGE) property, in Brazil,
to bolster its existing Angilak uranium, Genesis/Hatchet uranium
and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 39
exploration licenses covering a total area of 39,987 hectares
(98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct
PGE+Au deposit areas host, in aggregate, a current Inferred
Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million
tonnes grading 1.22 g/t 2PGE+Au (see ValOre’s July 23, 2019 news
release). All the currently known Pedra Branca inferred PGE
resources are potentially open pittable.
Comprehensive exploration programs have
demonstrated the "District Scale" potential of ValOre’s Angilak
Property in Nunavut Territory, Canada that hosts the Lac 50 Trend
having a current Inferred Resource of 2,831,000 tonnes grading
0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure
related to the inferred resource for the Lac 50 Trend uranium
deposits, please refer to ValOre's news release of March 1,
2013.
ValOre’s team has forged strong relationships
with sophisticated resource sector investors and partner Nunavut
Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold
Properties. ValOre was the first company to sign a comprehensive
agreement to explore for uranium on Inuit Owned Lands in Nunavut
Territory and is committed to building shareholder value while
adhering to high levels of environmental and safety standards and
proactive local community engagement.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals
Corp. or this news release, please visit our website at
valoremetals.com or contact Investor Relations at 604.653.9464, or
by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of
Discovery Group. For more information please visit:
discoverygroup.ca
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains “forward-looking
statements” within the meaning of applicable securities laws.
Although ValOre believes that the expectations reflected in its
forward-looking statements are reasonable, such statements have
been based on factors and assumptions concerning future events that
may prove to be inaccurate. These factors and assumptions are based
upon currently available information to ValOre. Such statements are
subject to known and unknown risks, uncertainties and other factors
that could influence actual results or events and cause actual
results or events to differ materially from those stated,
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cautioned to not place undue reliance on forward-looking
statements. The statements in this press release are made as of the
date of this release and, except as required by applicable law,
ValOre does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise. ValOre
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of ValOre, or its
financial or operating results or (as applicable), their
securities.
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