ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced trench channel sample
assay results from the Tróia target (“Tróia”) at ValOre’s
100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”)
Project (“Pedra Branca”) in northeastern Brazil.
“Our geological team continues to deliver at the
Pedra Branca palladium-platinum project. Tróia joins Ipueiras and
Galante East in our pipeline of drill-ready targets,” stated
ValOre’s V.P. of Exploration, Colin Smith. “The trench results at
the Tróia target confirm the presence of in-situ PGE mineralization
intercepted in previously reported Trado® auger drilling and rock
sampling and demonstrate potential continuity of the target
chromite-bearing ultramafic rocks over 600 m along trend.
Mineralization and the target ultramafic intrusion remain fully
open at depth and warrant follow-up core or RC drilling.”
Tróia Trenching Highlights:
Six of seven trenches returned significant
intervals of PGE mineralization at surface, including:
- 42
metres (“m”) grading 0.87 grams per tonne palladium + platinum +
gold (“g/t 2PGE+Au”), including 10 m grading 1.72
g/t 2PGE+Au in trench TR22TR04;
- 28 m
grading 0.91 g/t 2PGE+Au, including 12 m grading
1.73 g/t 2PGE+Au in trench TR22TR01;
- 26 m
grading 0.82 g/t 2PGE+Au in trench TR22TR02;
- 16 m
grading 1.30 g/t 2PGE+Au in trench TR22CC01.
Tróia Target Exploration Program
ValOre conducted detailed geological mapping and
prospecting along the 1-km-long anomalous trend at Tróia, a target
located 4.5 km north-northeast of Massapê (129,000 oz 2PGE+Au
grading 1.21 g/t in 3.31 Mt) and 8 km north of Trapia (885,000 oz
2PGE+Au grading 0.96 g/t in 27.8 Mt). The trend was subsequently
followed up with 72 Trado® auger holes totaling 206 m, with
ultramafics (“UM”) encountered in 19 Trado® holes.
PGE assays previously reported from Trado® auger
drilling and rock sampling, which included 23.01 g/t 2PGE+Au and
12.00 g/t 2PGE+Au (CLICK HERE for news release dated April 25,
2022), warranted follow-up trenching along 600 m of geological
trend to confirm the presence of in-situ PGE mineralization. Seven
trenches were excavated (400 m total length), with all exposing UM
and UM-derived rock continuity along strike, including
chromite-rich UMs of significant thickness in the central trenches,
TR22TR01 to TR22TR04, and in the northern trench, TR22CC01. See
Figure 1 below for a detailed plan map of the Tróia target, Figure
2 for photographs of the Tróia trenching program, and Figures 3a-3b
for cross sections (trenches TR22TR02 and TR22CC01).
Trench mapping and assays indicate a strong
potential for continuity between the northern trench (TR22CC01) and
the main zone (trenches TR22TR01 to TR22TR006), despite the lack of
surface exposure in between. Detailed follow-up mapping and
prospecting has commenced to further investigate this gap zone.
Table 1: Trenching Highlights for Tróia
Target
Trench ID |
From (m) |
To (m) |
Length (m) |
2PGE+Au (g/t) |
Interval Summary* |
TR22TR01 |
15 |
43 |
28 |
0.91 |
28 m grading 0.91 g/t 2PGE+Auincl. 12 m
grading 1.73 g/t 2PGE+Au |
16 |
28 |
12 |
1.73 |
TR22TR02 |
19 |
45 |
26 |
0.82 |
26 m grading 0.82 g/t 2PGE+Au |
TR22TR03 |
10 |
27 |
17 |
0.61 |
17 m grading 0.61 g/t 2PGE+Auincl. 4 m grading 1.06 g/t
2PGE+Au |
16 |
20 |
4 |
1.06 |
TR22TR04 |
0 |
42 |
42 |
0.87 |
42 m grading 0.87 g/t 2PGE+Au incl. 10 m
grading 1.72 g/t 2PGE+Au |
8 |
18 |
10 |
1.72 |
TR22TR05 |
5 |
16 |
11 |
0.20 |
11 m grading 0.20 g/t 2PGE+Auincl. 4 m grading 0.32 g/t
2PGE+Au |
10 |
14 |
4 |
0.32 |
TR22CC01 |
27 |
43 |
16 |
1.30 |
16 m grading 1.30 g/t 2PGE+Au |
*Reported trench assay interval lengths are
channel samples and estimated to represent 75-85% true width.
Figure 1: Tróia Target Plan Map,
highlighting trench locations and assays.
https://www.globenewswire.com/NewsRoom/AttachmentNg/14eb0b15-a56c-4231-9ee1-2c94578bf26a
Figure 2: Photographs from trenching at
the Tróia Target, highlighting chromitite reef horizons and
chromite-rich ultramafics.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7bafb4b9-0d71-491d-a47e-2e37c76965c4
Figure 3a: Trench TR22TR02 cross
section, Tróia Target, highlighting geology, assays, and proximal
Trado® auger
drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/1a9115fb-6939-48f1-8888-a6dfcf96c5ac
Figure 3b: Trench TR22CC01 cross
section, Tróia Target, highlighting geology, assays, and proximal
Trado® auger
drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9d1e6d2-01db-4aad-b6e1-56318e0a7073
About the
Trado® Auger and Trenching
methodology
CLICK HERE for more information regarding Trado®
Auger and Trenching methodology
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/
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.
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