ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced a Reverse Circulation
(“RC”) drilling discovery at ValOre’s 100%-owned Pedra Branca
Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”)
in northeastern Brazil.
“ValOre rapidly advanced the Santo Amaro South
target to drill-ready stage by the implementation of systematic
2021 mapping, Trado® auger drilling and trenching,” stated ValOre’s
VP of Exploration, Colin Smith. “RC drill hole RC21SAS03 confirms
the presence of broad high-grade surface PGE mineralization at
Santo Amaro South and further validates ValOre’s sequential
exploration methodology, which has been re-initiated to expand upon
the discovery hole.”
Highlights of Santo Amaro South RC
Drilling Discovery:
- Drill hole RC21SAS03*
- 32 metres (“m”) grading 1.65 grams
per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface,
incl. 6 m grading 3.07 g/t 2PGE+Au from 2.00 m;
- Near-surface (15
m or less) PGE mineralization intersected in all five 2021 RC
holes;
- RC drill targets developed from 2021
Trado® auger drilling and trenching results (CLICK HERE for news
release dated March 23, 2021), further validating ValOre’s
systematic exploration methodology;
- Excellent exploration upside
characterized by a >1-kilometre (“km”) long ultramafic (“UM”)
trend identified by geological mapping, and an 800 x 400 m
PGE-in-soils and magnetic anomaly;
- Follow-up Trado®
auger drilling is on-going to further investigate the along-strike,
near-surface extension of PGE mineralization, and subsequent
diamond drilling is planned to expand upon the high-grade
mineralization intersected in drill hole RC21SAS03.
*Reported assay interval lengths are core
lengths, and are estimated to be 90-100% true width
Santo Amaro South Target and 2021
Exploration Summary
The Santo Amaro South (“SAS”) target is located
in the northern project area, 1.5 km south of the Santo Amaro
deposit, which is included in ValOre’s global 2019 NI 43-101 Pedra
Branca inferred resource of 1,067,000 ounces (“oz”) 2PGE+Au in 27.2
million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. CLICK HERE for a
regional map of Santo Amaro South target and Pedra Branca project
(Figure 1).
As part of ValOre’s exploration methodology
(CLICK HERE for news release dated July 12, 2021), SAS was
identified as a highly prospective and underexplored target based
on extensive historical soil and geophysical anomalies, and the
presence of multi-class WorldView spectral signatures (CLICK HERE
for additional information on WorldView spectral data). Detailed
2021 field mapping and prospecting defined a greater than 1-km-long
belt of target UM rocks, associated with strong magnetic and
geochemical anomalism.
Systematic Trado® auger drilling was performed
along-trend, with 19 vertical holes (71 total samples), confirming
the presence target UM rocks and continuity of surface PGE
mineralization. Five linear east-west trenches (398 m total) were
subsequently excavated, with channel sample assays confirming
surface in-situ PGE mineralization in 4 out of the 5 trenches
(CLICK HERE for news release dated March 23, 2021).
Trado® hole logging, trench mapping, and
subsequent assay results served to define multiple un-drilled,
north-south-trending mineralized UM packages which exceeded 400 m
in length and remain open along both directions of geological
trend. CLICK HERE for a plan map of the SAS target (Figure 2).
SAS was tested with five 2021 vertical RC drill
holes (totaling 282 m), with all 5 holes returning PGE-mineralized
assays over a geological trend of 400 m. A broad, surface PGE
discovery was made in RC drill hole RC21SAS03, which assayed 32 m
grading 1.65 g/t 2PGE+Au from surface, including 6 m grading 3.07
g/t 2PGE+Au from 2 m. Table 1 below summarizes highlight intervals
from 2021 RC drilling at SAS. CLICK HERE for a cross section of
drill hole RC21SAS03 (Figure 3).
Table 1: Santo Amaro South RC Drilling
Highlights
Hole ID |
From (m) |
To (m) |
Length* (m) |
2PGE+Au (g/t) |
2PGE+Au Interval Summary |
RC21SAS01 |
0 |
11 |
11 |
0.21 |
11 m grading 0.21 g/t 2PGE+Au from surface |
RC21SAS01A |
6 |
22 |
16 |
0.26 |
16 m grading 0.26 g/t 2PGE+Au from 6 m |
RC21SAS02 |
14 |
21 |
7 |
0.20 |
7 m grading 0.20 g/t 2PGE+Au from 14 mand 19 m grading 0.23 g/t
2PGE+Au from 60 m |
60 |
79 |
19 |
0.23 |
RC21SAS03 |
0 |
32 |
32 |
1.65 |
32 m grading 1.65 g/t 2PGE+Au from
surfaceincl. 6 m grading 3.07 g/t 2PGE+Au from 2
mand 2 m grading 2.08 g/t 2PGE+Au from 23
m |
2 |
8 |
6 |
3.07 |
23 |
25 |
2 |
2.08 |
RC21SAS04 |
6 |
19 |
13 |
0.15 |
13 m grading 0.15 g/t 2PGE+Au from 6 m |
* Reported assay interval lengths are core
lengths, and are estimated to be 90-100% true width
On-Going Exploration, Santo Amaro
South
Additional Trado® auger drilling is on-going to
follow-up the best Trado® and RC assays to date and to further
investigate the near-surface continuity of PGE mineralization along
strike. Subsequent diamond drilling is planned to expand upon the
high-grade mineralization intersected in drill hole RC21SAS03.
RC Drilling and Sampling
Methodology
RC drill holes are drilled in 3-metre-long by
4.5-inch diameter run lengths. One large sample is collected every
metre, dried out by the cyclone, and deposited directly into
previously labeled plastic sample bags. If the material is dry, the
cyclone is cleaned every 3 metres with pressurized air. If humid or
wet, the cyclone is cleaned at every metre. Each sample is weighed
at the drill site, with an average of 20-30 kilograms (“kg”) per
obtained sample (for 100% recovery). A representative sample is
collected, sieved, and washed to remove excess dust. This sample is
then deposited into a plastic chip case for logging procedures and
future reference. Magnetic susceptibility measurements are taken at
the drill site for each metre-long interval. The large samples
collected from the cyclone are transported to a secure sampling and
splitting facility in Capitão Mor. Each sample goes into a Jones
Riffle Splitter, and 2 aliquots of approximately 2 kg, and minimum
of 500 grams (“g”), are collected into two new sample bags. One
sample is retained at site as archive, and the other is submitted
for assay. The splitter is cleaned before the splitting of every
new sample in a two-step procedure: (1) initially and manually with
a paint brush; and (2) thereafter with pressurized air. The
residual volume of each sample material is discarded. A strict
Quality Control/Quality Assurance (“QA/QC”) program is applied to
all samples, which included insertion of certified mineralized
standards, blank samples and duplicates in every batch sent for
assays.
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 estimated 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 Aug 2024 to Sep 2024
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Sep 2023 to Sep 2024