ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today provided an update on target
pipeline exploration activities at ValOre’s 100%-owned Pedra Branca
Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”)
in northeastern Brazil.
“ValOre’s highly effective exploration
methodology serves to rapidly evaluate and advance targets to a
drill-ready stage, utilizing 3D inversion of
aeromagnetic and ground magnetic data, WorldView spectral imagery,
and radiometrics, followed by geological mapping and prospecting to
identify prospective regional ultramafic trends, systematic Trado®
auger drilling to establish near-surface geological continuity,
trenching to confirm the presence of in-situ PGE mineralization,
and RC (and/or core) drilling to test at depth and along trend,”
stated ValOre’s VP of Exploration, Colin Smith. “This systematic
framework will be applied throughout the 55,984-hectare tenements
to efficiently advance prospective historical targets and assess
untested WorldView-magnetic anomalies.”
2021 Discovery Pipeline Exploration
Highlights:
- Trapia South
Discovery – Reverse Circulation (“RC”) drilling discovery at the
previously undrilled Trapia South target, located 1.5 kilometres
(“km”) southwest and on trend from Trapia 1, with PGE-mineralized
ultramafic (“UM”) rocks intercepted at or near surface in 3 of 3 RC
drill holes, including:
- Drill hole
RC21TS02: 21.00 metres (“m”) grading 0.72 grams per tonne palladium
+ platinum + gold (“g/t 2PGE+Au”) from surface, including 3.00 m
grading 1.57 g/t 2PGE+Au, 0.21% Cu, 0.78% Ni from 11.00 m
- Drill hole
RC21TS03: 8.00 m grading 0.89 g/t 2PGE+Au, 0.14% Cu, 0.55% Ni from
3.00 m;
- Esbarro NW – RC
drilling at Esbarro NW confirms presence of surface PGE
mineralization within 200 metres of northwestern boundary of
existing Esbarro inferred resource, with 5 of 9 RC drill holes
returning near-surface PGE mineralization over a geological trend
of 250 m, including the following assay highlights:
- Drill hole
RC21ES01: 10 m grading 1.69 g/t 2PGE+Au from surface
- Drill hole
RC21ES08: 8 m grading 1.22 g/t 2PGE+Au from surface;
- Santo Amaro
South – RC drilling at Santo Amaro South target, located 1.5 km to
the south of Santo Amaro inferred resource, intercepted significant
at or near-surface intervals of target UM rocks in all 5 holes,
including (assays pending):
- Drill hole
RC21SAS01: surface to 24 m
- Drill hole
RC21SAS01A: surface to 22 m
- Drill hole
RC21SAS02: surface to 30 m and 43 to 80 m
- Drill hole
RC21SAS03: surface to 32 m
- Drill hole
RC21SAS04: 6 to 9 m;
- Massape –
pipeline target situated ~4 km north of Trapia, tested with 19
Trado® auger holes (93 m) and 5 trenches (216 m), with all assays
pending:
- Target UMs
encountered in 8 Trado® holes (59 of the 93 m augered) and all 5
trenches, over geological trend of approximately 600 m
- Subsequent core
drilling to be evaluated pending receipt and review of assay
results;
- A total of 38 RC
drill holes (1,828 m) have been drilled in 2021, with assay results
received for 22 holes;
- A total of 113
Trado® auger holes have been drilled in 2021, with assay results
received for 92 holes;
- District-wide
target generation ongoing via WorldView spectral data and
magnetics, with target evaluation accelerated by systematic
exploration methodology – to be applied throughout the 16,000
hectares (“ha”) of new tenements acquired by ValOre earlier this
month.
2021 Target Pipeline
Summary
ValOre is rapidly advancing the district-scale
target pipeline at Pedra Branca with the implementation of a highly
effective combination of sequential evaluative exploration
techniques. Following up on regional geophysics and WorldView
studies, preliminary geological mapping and prospecting is employed
to identify and confirm the presence of prospective regional UM
trends. Once established, systematic Trado® auger drilling is
conducted to demarcate geological continuity, and test for
near-surface PGE mineralization. Upon receipt and review of Trado®
assay data, targets are evaluated by trenching (channel sampling)
and/or RC drilling to confirm the presence of in-situ PGE
mineralization along trend and at depth.
Trapia South Discovery
This methodology has led to a RC drilling
discovery of the previously undrilled Trapia South target, situated
2 km southwest and along geological trend to the Trapia 1 PGE
deposit. Trapia South is characterized by a strong 0.5 km by 0.5 km
magnetic anomaly, deposit-signature historical PGE-in-soil anomaly,
and multiple grab samples collected from the magnetic high >1.0
g/t 2PGE+Au (high of 2.3 g/t 2PGE+Au). Geological mapping confirmed
the presence of extensive contiguous UMs at surface, and the target
was tested with three initial RC drill holes. All three holes
intercepted PGE-mineralized UMs, with assay highlights of 21.00 m
grading 0.73 g/t 2PGE+Au from surface, including 3.00 m grading
1.57 g/t 2PGE+Au, 0.21% Cu, 0.78% Ni from 11.00 m (RC hole
RC21TS02), and 8.00 m grading 0.88 g/t 2PGE+Au, 0.14% Cu, 0.55% Ni
from 3.00 m (RC hole RC21TS03). ValOre’s recent acquisition of new
tenements strategically encompasses the newly discovered Trapia
South target area (CLICK HERE for news release dated July 6, 2021).
See Table 1 below for a full list of PGE-mineralized RC intervals,
and CLICK HERE for a map of Trapia South (Figure 1).
Esbarro NW
Situated within 200 m of the Esbarro
pit-constrained resource area (9.9 Mt grading 1.23 g/t 2PGE+Au,
totaling 394,000 ounces), Esbarro NW exploration was initiated with
a 2021 soil sampling campaign which served to delineate a 600
m-long PGE-in-soils anomaly, a vertical test pit channel sample
(surface to 6.50 m grading 2.17 g/t 2PGE+Au, including 2.0 m
grading 5.19 g/t 2PGE+Au from 4.50 m), and a 19-hole Trado® auger
follow-up program, where 17 of 19 Trado® auger holes intercepted
PGE-bearing ultramafic rocks, including hole AD21ES03 which
returned 12.0 m grading 1.73 g/t 2PGE+Au from surface. (CLICK HERE
for news release dated April 26, 2021).
Esbarro NW was subsequently tested with vertical
9 vertical RC drill holes (191 m), with 5 holes returning
mineralized PGE assays over a geological trend of 250 m. Assay
highlights include 10.00 m grading 1.69 g/t 2PGE+Au from 0.00 m
(RD21ES01), 8.00 m grading 1.22 g/t 2PGE+Au from surface (RC21ES09)
and 5.00 m grading 0.97 g/t 2PGE+Au from surface (RC21ES05). See
Table 1 below for a full list of PGE-mineralized RC intervals, and
CLICK HERE for a map of Esbarro NW (Figure 2).
Massape
Massape is a pipeline target situated
approximately 5 km north of Trapia, characterized by strong
historical PGE-in-soil anomalies, high-grade historical and ValOre
surface rock grab samples (11 samples >10 g/t 2PGE+Au over 500 m
of geological trend), compelling >1 km-long magnetic highs, and
PGE mineralization in 3 of 5 historical drill holes.
ValOre conducted detailed geological mapping and
prospecting throughout the 1 km-long anomalous trend and followed
up with 19 Trado® auger holes (93 m) and 5 trenches (216 m). Target
UMs were encountered in 8 Trado® holes (59 of the 93 m), and all 5
trenches, over a geological trend of approximately 600 m.
Subsequent core drilling will be evaluated pending receipt and
review of the assay results. CLICK HERE for a map of Massape
(Figure 3).
Table 1: Summary of Significant 2021 RC
Drilling, Trado® Auger, and
Channel Sampling Results
Target |
Sample Type |
SampleID |
From(m) |
To(m) |
Length(m) |
2PGE+Au(g/t) |
2PGE+Au Interval Summary |
|
|
Esbarro NW |
RC Drilling |
RC21ES01 |
0.00 |
10.00 |
10.00 |
1.69 |
10.00m grading 1.69 g/t 2PGE+Au from surface |
|
Esbarro NW |
RC Drilling |
RC21ES05 |
0.00 |
5.00 |
5.00 |
0.97 |
5.00m grading 0.97 g/t 2PGE+Au from surface |
|
Esbarro NW |
RC Drilling |
RC21ES06 |
0.00 |
1.00 |
1.00 |
0.44 |
1.00m grading 0.44 g/t 2PGE+Au from surface |
|
Esbarro NW |
RC Drilling |
RC21ES07 |
0.00 |
4.00 |
4.00 |
0.41 |
4.00m grading 0.41 g/t 2PGE+Au from surface |
|
Esbarro NW |
RC Drilling |
RC21ES09 |
0.00 |
8.00 |
8.00 |
1.22 |
8.00m grading 1.22 g/t 2PGE+Au from surface |
|
Trapia South |
RC Drilling |
RC21TS02 |
0.00 |
22.00 |
22.00 |
0.72 |
22.00m grading 0.72 g/t 2PGE+Au from
surfaceincl. 3.00m grading 1.57 g/t 2PGE+Au from
11.00m |
|
11.00 |
14.00 |
3.00 |
1.57 |
|
Trapia South |
RC Drilling |
RC21TS03 |
3.00 |
11.00 |
8.00 |
0.89 |
8.00m grading 0.89 g/t 2PGE+Au from 3.00m |
|
Trapia 1 |
RC Drilling |
RC21TU01 |
0.00 |
59.00 |
59.00 |
0.80 |
59.00m grading 0.80 g/t 2PGE+Au from
surfaceincl. 5.00m grading 1.36 g/t 2PGE+Au from
18.00mand 12.00m grading 1.23 g/t 2PGE+Au from
35.00m |
|
18.00 |
23.00 |
5.00 |
1.36 |
|
35.00 |
47.00 |
12.00 |
1.23 |
|
Trapia 2 |
RC Drilling |
RC21TD01 |
0.00 |
57.00 |
57.00 |
0.45 |
57.00m grading 0.45 g/t 2PGE+Au from surface |
|
Esbarro NW |
Channel |
PT21ES01 |
0.00 |
6.50 |
6.50 |
2.17 |
6.5 m grading 2.17 g/t 2PGE+Au from surface |
|
Esbarro NW |
Channel |
PT21ES01 |
4.50 |
6.50 |
2.00 |
5.16 |
2.0 m grading 5.16 g/t 2PGE+Au from 4.50 m |
|
Esbarro NW |
Trado® |
AD21ES02 |
0.00 |
5.00 |
5.00 |
0.63 |
5.0 m grading 0.63 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES03 |
0.00 |
12.00 |
12.00 |
1.73 |
12.0 m grading 1.73 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES03 |
0.00 |
2.00 |
2.00 |
2.90 |
2.0 m grading 2.90 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES03 |
8.00 |
10.00 |
2.00 |
3.36 |
2.0 m grading 3.36 g/t 2PGE+Au from 8 m |
|
Esbarro NW |
Trado® |
AD21ES04 |
0.00 |
2.00 |
2.00 |
0.33 |
1.95 m grading 0.33 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES04A |
0.00 |
4.00 |
4.00 |
1.12 |
4.0 m grading 1.12 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES05 |
0.00 |
1.60 |
1.60 |
0.30 |
1.6 m grading 0.30 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES06 |
0.00 |
2.70 |
2.70 |
0.23 |
2.7 m grading 0.23 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES07 |
0.00 |
2.00 |
2.00 |
0.54 |
1.95 m grading 0.54 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES08 |
0.00 |
9.00 |
9.00 |
2.09 |
9.0 m grading 2.09 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES09 |
0.00 |
2.00 |
2.00 |
0.42 |
2.0 m grading 0.42 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES10 |
0.00 |
2.00 |
2.00 |
0.35 |
2.0 m grading 0.35 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES11 |
0.00 |
2.00 |
2.00 |
0.45 |
1.95 m grading 0.45 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES12 |
0.00 |
1.00 |
1.00 |
0.78 |
1.0 m grading 0.78 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES14 |
1.00 |
2.00 |
1.00 |
0.27 |
1.0 m grading 0.27 g/t 2PGE+Au from 1 m |
|
Esbarro NW |
Trado® |
AD21ES17 |
0.00 |
4.00 |
4.00 |
0.68 |
4.0 m grading 0.68 g/t 2PGE+Au from surface |
|
Esbarro NW |
Trado® |
AD21ES18 |
0.00 |
1.90 |
1.90 |
0.19 |
1.85 m grading 0.19 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB03 |
0.00 |
5.00 |
5.00 |
0.24 |
5.00 m grading 0.24 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB04 |
0.00 |
2.00 |
2.00 |
0.16 |
2.00 m grading 0.16 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB05 |
0.00 |
1.00 |
1.00 |
0.11 |
1.00 m grading 0.11 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB06 |
0.00 |
2.30 |
2.30 |
0.12 |
2.30 m grading 0.12 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB08 |
0.00 |
2.60 |
2.60 |
0.23 |
2.60 m grading 0.23 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB09 |
0.00 |
2.50 |
2.50 |
0.48 |
2.50 m grading 0.48 g/t 2PGE+Au from surface |
|
Cana Brava |
Trado® |
AD21CB13 |
3.00 |
5.70 |
2.70 |
0.19 |
2.70 m grading 0.19 g/t 2PGE+Au from 3 m |
|
Cana Brava |
Trado® |
AD21CB20 |
2.00 |
3.00 |
1.00 |
0.53 |
1.0 m grading 0.53 g/t 2PGE+Au from 2 m |
|
Trapia 2 |
Trado® |
AD21TD03 |
0.00 |
2.00 |
2.00 |
0.31 |
2.0 m grading 0.31 g/t 2PGE+Au from surface |
|
Trapia 2 |
Trado® |
AD21TD04 |
0.00 |
1.00 |
1.00 |
0.13 |
1.0 m grading 0.13 g/t 2PGE+Au from surface |
|
Trapia 2 |
Trado® |
AD21TD05 |
0.00 |
1.00 |
1.00 |
0.14 |
1.0 m grading 0.14 g/t 2PGE+Au from surface |
|
Massape |
Trado® |
AD21MS03 |
0.00 |
2.00 |
2.00 |
0.19 |
2.0 m grading 0.19 g/t 2PGE+Au from surface |
|
Massape |
Trado® |
AD21MS04 |
0.00 |
4.00 |
4.00 |
0.27 |
4.0 m grading 0.27 g/t 2PGE+Au from surface |
|
Quality Control/Quality Assurance
(“QA/QC”) and Grade Interval Reporting
CLICK HERE for a summary of ValOre’s policies
and procedures related to QA/QC and grade interval reporting.
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 and Vice President of
Exploration.
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 51
exploration licenses covering a total area of 55,984 hectares
(138,339 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 (CLICK HERE for 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 CLICK HERE for ValOre's news release dated 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
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
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,
anticipated or implied in the forward-looking statements. A number
of important factors including those set forth in other public
filings could cause actual outcomes and results to differ
materially from those expressed in these forward-looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements include the
future operations of ValOre and economic factors. Readers are
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.
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Jun 2024 to Jul 2024
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Jul 2023 to Jul 2024