ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today provided an update from
ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”,
“2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil, where
exploration employing the Trado® auger has identified multiple
zones of near surface mineralization.
“While commonly used throughout Brazil, ValOre
was the first company to use the Trado® auger for exploration at
Pedra Branca. This cost-effective and highly portable tool led us
to multiple subsequent drilling discoveries and played an important
preliminary role in the successful resource expansion drilling in
2021,” stated ValOre’s VP of Exploration, Colin Smith. “The Trado®
collects metre-by-metre samples of overburden for geochemical assay
and drills into the tops of weathered bedrock, giving a real-time
viewpoint into geology under cover. Given the continued success of
the tool, ValOre has purchased a second auger unit to accelerate
property-wide exploration.”
Trado®
Auger Exploration Highlights
- 235 auger holes
totaling 818.3 metres (“m”) have tested 9 property-wide targets to
date, intercepting 430.5 m of target ultramafic (“UM”) rocks under
cover, with 863 samples submitted for assay;
- Trado® end of
hole (“EOH”) depths typically represent that the auger has entered
impenetrable unweathered to less weathered bedrock, so it is
typical that mineralization and UMs remain fully open at depth and
require follow-up core or Reverse Circulation (“RC”) drilling;
- Auger assay
highlights include:
- 16 m grading
1.22 g/t 2PGE+Au from surface (new result from Trapia South
target)
- 12 m grading
1.73 g/t 2PGE+Au from surface (led to drilling discovery at Esbarro
NW target)
- 9.0 m grading
2.09 g/t 2PGE+Au from surface (led to drilling discovery at Esbarro
NW target)
- 10 m grading
1.64 g/t 2PGE+Au from surface (led to drilling discovery at Santo
Amaro South target;
- A second Trado®
auger has been purchased to be deployed in early February.
Trado®
Auger Exploration at Pedra Branca
The Trado® auger has become a cornerstone
exploration tool at Pedra Branca, serving to rapidly advance the
district-wide target pipeline, and leading to multiple successful
drill campaigns in 2021. Systematic Trado® auger fences on 40-60 m
hole spacings effectively demarcate target UM intrusions hidden
under cover and test the presence of near-surface mineralization
with subsequent assaying. Metre-by-metre geochemical samples of
soil, regolith and weathered bedrock are collected down-hole,
logged, and submitted for PGE and multi-element analyses.
Consequently, the benefits of Trado® are both real-time, with the
geological mapping of bedrock under cover, and long-term, with the
collection and analysis of a comprehensive geochemical assessment
of the entire overburden profile, and in some cases into weathered
bedrock. Furthermore, the Trado® auger EOH depths represent the
onset of impenetrable bedrock, so mineralization and UMs remain
fully open at depth, to be followed up by core or RC drilling.
ValOre has completed 235 auger holes since
February 2021, totaling 818.3 m, testing 9 property-wide targets.
In total, 430.5 m of target UMs rocks have been augered under
cover, with 863 samples submitted for assay. See Table 1 below for
a summary of Trado® auger exploration at Pedra Branca to date, and
see Table 2 below for a summary of notable Trado® auger holes >2
Gram*Meter on a target-to-target basis.
Proof of Concept with Follow-Up
Drilling
Seven of the 9 targets Trado®-tested to date
were followed up with core and/or RC drilling in 2021, and all
seven produced significant PGE intercepts. CLICK HERE to view news
releases from 2021 and CLICK HERE to view news releases from 2022.
The validity of the auger as an effective pre-RC or -core drilling
tool was further proven by the reproducibility of PGE-in-Trado®
grades in drill core or RC chips. As an example, Trado® hole
AD21SAS12 from the Santo Amaro South target returned 10 m grading
1.64 g/t 2PGE+Au from surface. This result was followed up by RC
drilling, which produced the discovery hole of 32 m grading 1.65
g/t 2PGE+Au from surface in drill hole RC21SAS03. CLICK HERE for
news release dated August 23, 2021 and see Figure 1 below for a
cross section.
Table 1: Summary of
Trado® Auger Drilling to Date
(Feb 2021 - Jan 2022)
Target |
Total Holes(#) |
Total Drilled(m) |
UMs Drilled(m) |
SamplesAssayed(#) |
Santo Amaro South |
46 |
173.6 |
76.7 |
177 |
Santo Amaro |
27 |
69.1 |
40.6 |
77 |
Esbarro NW |
19 |
64.7 |
47.9 |
69 |
Cana Brava |
23 |
69.1 |
35.9 |
76 |
Trapia 2 |
5 |
9.1 |
5.0 |
10 |
Massapê |
36 |
169.0 |
115.4 |
178 |
Pitombeiras |
22 |
60.5 |
7.7 |
64 |
Trapia South |
24 |
107.8 |
56.8 |
112 |
Ipueiras |
33 |
95.4 |
44.5 |
100 |
Total |
235 |
818.3 |
430.5 |
863 |
Table 2: Assay Table of
Trado® Auger Holes >2
Gram*Meter to Date (Feb 2021 - Jan 2022)
Target |
Auger Hole |
From (m) |
To (m) |
Length (m) |
2PGE+Au (g/t) |
2PGE+Au Interval Summary |
Gram x Metre |
Trapia South |
AD21TS08 |
0 |
16 |
16 |
1.22 |
16 m grading 1.22 g/t 2PGE+Au from surface |
19.5 |
Trapia South |
AD21TS09 |
0 |
8 |
8 |
0.57 |
8 m grading 0.57 g/t 2PGE+Au from surface |
4.6 |
Trapia South |
AD21TS10 |
0 |
6.8 |
6.75 |
0.66 |
6.75 m grading 0.66 g/t 2PGE+Au from surface |
4.5 |
Trapia South |
AD21TS07 |
4 |
13 |
9 |
0.48 |
9 m grading 0.48 g/t 2PGE+Au from 4 m |
4.3 |
Trapia South |
AD21TS05 |
0 |
7 |
7 |
0.39 |
7 m grading 0.39 g/t 2PGE+Au from surface |
2.7 |
Santo Amaro South |
AD21SAS12 |
0 |
10 |
10 |
1.64 |
10 m grading 1.64 g/t 2PGE+Au from surface |
16.4 |
Santo Amaro South |
AD21SAS39 |
1 |
10 |
9 |
0.7 |
9 m grading 0.70 g/t 2PGE+Au from 1 m |
6.3 |
Santo Amaro South |
AD21SAS08 |
0 |
4 |
4 |
1.1 |
4 m grading 1.10 g/t 2PGE+Au from surface |
4.4 |
Santo Amaro South |
AD21SAS29 |
0 |
3 |
3 |
0.66 |
3 m grading 0.66 g/t 2PGE+Au from surface |
2.0 |
Santo Amaro |
AD21SA14 |
0 |
2.5 |
2.5 |
3.45 |
2.5 m grading 3.45 g/t 2PGE+Au from surface |
8.6 |
Santo Amaro |
AD21SA15 |
0 |
2.6 |
2.55 |
1.5 |
2.55 m grading 1.50 g/t 2PGE+Au from surface |
3.8 |
Santo Amaro |
AD21SA17 |
0 |
3 |
3 |
1.25 |
3 m grading 1.25 g/t 2PGE+Au from surface |
3.8 |
Massapê |
AD21MS14 |
0 |
11 |
11 |
0.34 |
11 m grading 0.34 g/t 2PGE+Au from surface |
3.7 |
Massapê |
AD21MS24 |
0 |
13 |
13 |
0.25 |
13 m grading 0.25 g/t 2PGE+Au from surface |
3.3 |
Massapê |
AD21MS19 |
0 |
3.5 |
3.5 |
0.87 |
3.5 m grading 0.87 g/t 2PGE+Au from surface |
3.1 |
Massapê |
AD21MS17 |
0 |
8 |
8 |
0.36 |
8 m grading 0.36 g/t 2PGE+Au from surface |
2.9 |
Massapê |
AD21MS20 |
0 |
4 |
4 |
0.59 |
4 m grading 0.59 g/t 2PGE+Au from surface |
2.4 |
Massapê |
AD21MS15 |
0 |
12 |
12 |
0.19 |
12 m grading 0.19 g/t 2PGE+Au from surface |
2.3 |
Esbarro NW |
AD21ES03 |
0 |
12 |
12 |
1.73 |
12 m grading 1.73 g/t 2PGE+Au from surface |
20.8 |
Esbarro NW |
AD21ES08 |
0 |
9 |
9 |
2.09 |
9 m grading 2.09 g/t 2PGE+Au from surface |
18.8 |
Esbarro NW |
AD21ES04A |
0 |
4 |
4 |
1.12 |
4 m grading 1.12 g/t 2PGE+Au from surface |
4.5 |
Esbarro NW |
AD21ES02 |
0 |
5 |
5 |
0.63 |
5 m grading 0.63 g/t 2PGE+Au from surface |
3.2 |
Esbarro NW |
AD21ES17 |
0 |
4 |
4 |
0.68 |
4 m grading 0.68 g/t 2PGE+Au from surface |
2.7 |
To view Figure 1: Cross
Section A-A’, Santo Amaro South Target, please visit the following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/685ca994-41bb-43db-b162-9f77420bf11b
About the
Trado® Auger
The Trado® auger is a portable soil drilling
device developed and manufactured in Brazil by Trado® Equipamentos
e Serviços Ltda, specially designed for mineral exploration,
environmental monitoring, structural engineering, and installation
of lightweight artesian wells. They are designed to drill up to 30
m in depth, have a collapsible structure (easily transportable),
and offer extremely low cost of operation and maintenance. The
Trado® drills through vegetation cover, preserving a very low
ecological footprint to the survey.
CLICK HERE for more information regarding
Trado®.
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 52
exploration licenses covering a total area of 56,852 hectares
(140,484 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
www.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