ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced soil geochemistry and
Trado® auger assay results from the Galante East target area at
ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”,
“2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“Galante East represents the longest and most
prospective undrilled trend at Pedra Branca, as evidenced by the
3-km-long cumulative palladium-platinum soil anomaly, and multiple
high-grade Trado® auger holes from ValOre’s first phase of
exploration,” stated ValOre’s VP of Exploration, Colin Smith.
“Immediate follow-up work has commenced, including infill soil
sampling, additional Trado® auger drilling, and trenching.”
Galante East Target Exploration Program
Highlights:
-
Three-kilometre-long (“km”) cumulative palladium-platinum soil
anomaly with no historical or ValOre drill holes;
- Multiple
PGE-mineralized Trado® auger holes, including:
- 5.0 metres (”m”)
grading 1.48 grams per tonne palladium + platinum + gold (“g/t
2PGE+Au”) from surface
- 2.0 m grading
2.95 g/t 2PGE+Au from surface
- 3.8 m grading
1.18 g/t 2PGE+Au from surface
- 5.5 m grading
0.80 g/t 2PGE+Au from surface
- 6.0 m grading
0.53 g/t 2PGE+Au from surface;
- Exploration
totals from the first phase at Galante East:
- 981 soil samples
collected and assayed (20 km of soil lines)
- 92 Trado® auger
holes (255 m) with 275 samples assayed;
- Follow-up
exploration has commenced along the 3-km-long anomalous trend,
including:
- Infill soil
lines, interstitial to the 200-m-spaced ValOre lines
- Follow-up Trado®
auger drilling
- Trenching.
Galante East 2022 Exploration
Program
The Galante East target is 3-km-long prospective
geological corridor located 7 km south-southwest of Santo Amaro
(153,000 oz 2PGE+Au grading 1.11 g/t in 4.3 Mt), and 10 km
north-northeast of Curiu (150,000 oz 2PGE+Au grading 2.20 g/t in
2.1 Mt). Historical work at Galante East includes localized soil
and rock sampling, geological mapping, and ground magnetics. A
strong PGE deposit signature is evident throughout the compiled
data.
ValOre initiated exploration at Galante East
with a regional geological mapping and prospecting program, which
corroborated and refined the historically mapped target ultramafic
(“UM”) intrusions and supported the completion of a regional soil
sampling and Trado® auger campaign. The soil survey covered a
geological trend of 3.75 km, on 200-m-spaced lines, with a total of
981 samples collected. In addition, 92 Trado® auger holes (255 m)
were drilled, targeting UM occurrences associated with the
historical soil anomalies.
Soil assays defined palladium-platinum anomalies
of approximately 3 km in cumulative length which is further
supported by 19 mineralized Trado® auger holes. Three high-priority
zones were defined within the undrilled 3-km-trend for immediate
follow up soil sampling, augering and trenching and have the
potential to further delineate drill targets. See Figure 1 below
for a plan map of Galante East, and Table 1 for a summary of Trado®
auger assay highlights.
The two southern zones extend along a geological
trend of over 600 metres each (1.2 km total), with high-grade
historical rock assays of up to 18.8 g/t 2PGE+Au, PGE-in-soils up
to 900 ppb 2PGE+Au and high-grade Trado® holes, including the two
highest-grade auger holes reported in this release:
- Trado® auger
hole AD22GE35: 5 m grading 1.48 g/t 2PGE+Au from surface;
- Trado® auger
hole AD22GE02: 2 m grading 2.95 g/t 2PGE+Au from surface.
Follow-up Trado® augering and trenching has
commenced at the southern anomalies to further delineate the extent
of near-surface PGE mineralization. The continuity of
mineralization at depth is to be tested with the core and/or RC
drill. Trado® end of hole depths typically represent that the auger
has entered impenetrable unweathered to less weathered bedrock, so
it is common that mineralization and UMs remain fully open at depth
and require follow-up drilling.
The northern soil anomaly extends over a trend
of 1.8 km, with continuous palladium and platinum mineralization
returned in soils and Trado® holes. Follow-up soil sampling has
commenced, with two additional soil lines infilling the
200-m-spaced lines from the regional survey.
Figure 1: Galante East target plan map
with highlights of the first phase of geochemistry is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3cc541b8-6b58-4c4e-9bc3-647ee73e952e
Table 1: Trado®
Assay Highlights, Galante East Target
Hole ID |
From(m) |
To(m) |
Length(m) |
2PGE+Au(g/t) |
2PGE+Au Interval Summary |
AD22GE02 |
0.00 |
2.00 |
2.00 |
2.95 |
2 m grading 2.95 g/t 2PGE+Au from surface |
AD22GE04 |
0.00 |
1.00 |
1.00 |
0.23 |
1 m grading 0.23 g/t 2PGE+Au from surface |
AD22GE14 |
2.00 |
3.00 |
1.00 |
0.67 |
1 m grading 0.67 g/t 2PGE+Au from 2 m |
AD22GE16 |
0.00 |
5.50 |
5.50 |
0.80 |
5.5 m grading 0.80 g/t 2PGE+Au from surface |
AD22GE17 |
0.00 |
6.00 |
6.00 |
0.53 |
6 m grading 0.53 g/t 2PGE+Au from surface |
AD22GE18 |
0.00 |
6.00 |
6.00 |
0.32 |
6 m grading 0.32 g/t 2PGE+Au from surface |
AD22GE20 |
1.00 |
2.00 |
1.00 |
0.34 |
1 m grading 0.34 g/t 2PGE+Au from 1 m |
AD22GE28 |
0.00 |
1.00 |
1.00 |
0.37 |
1 m grading 0.37 g/t 2PGE+Au from surface |
AD22GE29 |
0.00 |
2.00 |
2.00 |
0.59 |
2 m grading 0.59 g/t 2PGE+Au from surface |
AD22GE35 |
0.00 |
5.00 |
5.00 |
1.48 |
5 m grading 1.48 g/t 2PGE+Au from surface |
AD22GE39 |
0.00 |
1.00 |
1.00 |
0.35 |
1 m grading 0.35 g/t 2PGE+Au from surface |
AD22GE41 |
0.00 |
3.40 |
3.40 |
0.37 |
3.4 m grading 0.37 g/t 2PGE+Au from surface |
AD22GE43 |
0.00 |
1.80 |
1.80 |
0.29 |
1.8 m grading 0.29 g/t 2PGE+Au from surface |
AD22GE59 |
1.00 |
4.00 |
3.00 |
0.41 |
3 m grading 0.41 g/t 2PGE+Au from 1 m |
AD22GE63 |
1.00 |
5.00 |
4.00 |
0.22 |
4 m grading 0.22 g/t 2PGE+Au from 1 m |
AD22GE68 |
0.00 |
3.00 |
3.00 |
0.55 |
3 m grading 0.55 g/t 2PGE+Au from surface |
AD22GE77 |
0.00 |
4.00 |
4.00 |
0.40 |
4 m grading 0.40 g/t 2PGE+Au from surface |
AD22GE84 |
0.00 |
3.80 |
3.80 |
1.18 |
3.8 m grading 1.18 g/t 2PGE+Au from surface |
AD22GE85 |
0.00 |
6.00 |
6.00 |
0.17 |
6 m grading 0.17 g/t 2PGE+Au from surface |
About the
Trado® Auger, Trenching and Soil
Sampling Methodology
CLICK HERE for more information regarding Trado®
auger and trenching methodology, and CLICK HERE for more
information regarding soil sampling and assay procedures.
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, 7 distinct
PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred
resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t
2PGE+Au (CLICK HERE for news release dated March 24, 2022). 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:
http://www.discoverygroup.ca/
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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.
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