ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced multiple high-grade
PGE assay results from the follow-up Trado® auger program at the
Ipueiras target (“Ipueiras”) at ValOre’s 100%-owned Pedra Branca
Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”)
in northeastern Brazil.
“Phase 2 Trado® results from Ipueiras confirm
the presence of in-situ, high-grade, at-surface palladium-platinum
mineralization at the undrilled Southwest Zone,” stated ValOre’s
V.P. of Exploration, Colin Smith. “Follow-up trenching has
commenced to further delineate the PGE-bearing intrusion prior to
core or RC drilling.”
Ipueiras
Trado® Auger Drilling
Highlights:
Follow-up Trado® auger drilling at Ipueiras
returned multiple high-grade PGE intervals, including:
- 8 metres (“m”) grading 2.05 grams per tonne palladium +
platinum + gold (“g/t 2PGE+Au”) from 1 m, including
3 m grading 4.70 g/t 2PGE+Au from 6 m, in Trado®
auger TR22IP58;
- 6 m grading 3.60 g/t 2PGE+Au from 2 m,
including 4 m grading 5.00 g/t 2PGE+Au from 4 m,
in Trado® auger TR22IP59;
- 7.5 m grading 1.34 g/t 2PGE+Au from surface,
in Trado® auger TR22IP41;
- 5.5 m grading 1.69 g/t 2PGE+Au from 1 m, including 1 m
grading 4.73 g/t 2PGE+Au from 2 m, in Trado® auger
TR22IP39;
- 2.5 m grading 1.78 g/t 2PGE+Au from surface,
including 1 m grading 3.48 g/t 2PGE+Au from 1 m in
Trado® auger TR22IP55;
- 1.5 m grading 1.35 g/t 2PGE+Au from surface,
in Trado® auger TR22IP61A;
Trado® end of hole (“EOH”) depths typically
represent that the auger has entered impenetrable unweathered
bedrock, so mineralization and ultra-mafic rocks (“UM”) present at
EOH remain open at depth and require follow-up core or RC
drilling.
Ipueiras Target Exploration Program
The second phase of Trado® auger drilling at
Ipueiras was designed to follow-up on PGE high-grade mineralization
reported from previous Trado® holes and trenches of the Northeast
and Southwest Zones, within the 2-km-long anomalous trend of
Ipueiras Target (located 10 km south of the Trapia deposit area –
885,000 oz 2PGE+Au grading 0.96 g/t in 28.8 Mt).
32 follow up Trado® auger holes were drilled,
totaling 107 m. Target UM rocks were encountered in 19 Trado® holes
(68 m of the 107 m augered) with reported PGE mineralization 17 of
32 holes. See Table 1 below for a summary of significant Trado®
assay results from the second phase of the Trado® program at
Ipueiras.
Table 1: Follow up
Trado® Auger Drilling Highlights
for Ipueiras Target
Hole ID |
From (m) |
To (m) |
Length (m) |
2PGE+Au (g/t) |
2PGE+Au Interval Summary |
AD22IP37 |
0.00 |
2.00 |
2.00 |
0.14 |
2 m grading 0.14 g/t 2PGE+Au from surface |
AD22IP39 |
1.00 |
6.50 |
5.50 |
1.69 |
5.5 m grading 1.69 g/t 2PGE+Au from 1
mincl. 1 m grading 4.73 g/t 2PGE+Au from 2
m |
2.00 |
3.00 |
1.00 |
4.73 |
AD22IP41 |
0.00 |
7.50 |
7.50 |
1.34 |
7.5 m grading 1.34 g/t 2PGE+Au from surface |
AD22IP42 |
0.00 |
6.00 |
6.00 |
0.28 |
6 m grading 0.28 g/t 2PGE+Au from surface |
AD22IP43 |
0.00 |
8.50 |
8.50 |
0.23 |
8.5 m grading 0.23 g/t 2PGE+Au from surface |
AD22IP46 |
0.00 |
2.00 |
2.00 |
0.13 |
2 m grading 0.13 g/t 2PGE+Au from surface |
AD22IP47 |
0.00 |
1.00 |
1.00 |
0.14 |
1 m grading 0.14 g/t 2PGE+Au from surface |
AD22IP49 |
0.00 |
1.00 |
1.00 |
0.15 |
1 m grading 0.15 g/t 2PGE+Au from surface |
AD22IP51 |
0.00 |
2.00 |
2.00 |
0.25 |
2 m grading 0.25 g/t 2PGE+Au from surface |
AD22IP54 |
0.00 |
1.00 |
1.00 |
0.10 |
1 m grading 0.10 g/t 2PGE+Au from surface |
AD22IP55 |
0.00 |
2.50 |
2.50 |
1.78 |
2.5 m grading 1.78 g/t 2PGE+Au from
surfaceincl. 1 m grading 3.48 g/t 2PGE+Au from 1
m |
1.00 |
2.00 |
1.00 |
3.48 |
AD22IP57 |
1.00 |
2.00 |
1.00 |
0.45 |
1 m grading 0.45 g/t 2PGE+Au from 1 m |
AD22IP58 |
1.00 |
9.00 |
8.00 |
2.05 |
8 m grading 2.05 g/t 2PGE+Au from 1 mincl.
3 m grading 4.70 g/t 2PGE+Au from 6 m |
6.00 |
9.00 |
3.00 |
4.70 |
AD22IP59 |
2.00 |
8.00 |
6.00 |
3.60 |
6 m grading 3.60 g/t 2PGE+Au from 2 mincl.
4 m grading 5.00 g/t 2PGE+Au from 4 m |
4.00 |
8.00 |
4.00 |
5.00 |
AD22IP61 |
0.00 |
2.00 |
2.00 |
0.48 |
2 m grading 0.48 g/t 2PGE+Au from surface |
AD22IP61A |
0.00 |
1.50 |
1.50 |
1.35 |
1.5 m grading 1.35 g/t 2PGE+Au from surface |
AD22IP63 |
0.00 |
4.00 |
4.00 |
0.26 |
4 m grading 0.26 g/t 2PGE+Au from surface |
|
A total of 67 Trado® auger holes have been
drilled in 2022 at the Northeast and Southwest Zones of Ipueiras,
totaling 212 m augered, including 129.5 m of target UMs and PGE
mineralization reported in 37 of 67 holes.
ValOre’s exploration program at Ipueiras
commenced with detailed geological mapping and prospecting
throughout the 2-km-long anomalous trend, followed up with a first
phase of Trado® auger drilling (105 m), with reported PGE
mineralization in 11 of 35 holes (CLICK HERE for news release dated
March 31, 2022).
PGE-mineralized Trado® auger results defined an
area of focus within the Northeast Zone for priority follow up
work, and was subsequently tested for in-situ PGE mineralization by
excavation of 4 trenches totaling 189 m, covering a strike length
of approximately 200 m. All 4 trenches confirmed continuity of
PGE-bearing UM and UM-derived rocks along strike (CLICK HERE for
news release dated April 5, 2022), with two of four trenches
returning significant intervals of PGE mineralization,
including:
- 64 metres (“m”) grading 2.68 grams per tonne palladium
+ platinum + gold (“g/t 2PGE+Au”), including 25 m grading 4.65 g/t
2PGE+Au in trench TR22IP01;
- 38 m grading 2.14 g/t 2PGE+Au, including 15 m grading
4.45 g/t 2PGE+Au in trench TR22IP02;
At the Southwest Zone, highlights of historic
and ValOre high-grade rock samples collected throughout the area
include grades of over 40 g/t 2PGE+Au, correlative with the
high-grade UMs and chromitite reefs exposed in trenches TR22IP01
and TR22IP02 at the Northeast Zone, which confirm extension of
known PGE mineralization and exploration upside for an additional 2
km to the southwest of the existing historical core drilling and
trenching area. See Figure 1 below for a plan map of the Ipueiras
target and Figures 2 and 3 for detailed plan maps of the Northeast
and Southwest Zones.
Follow-up trenching has commenced at the SW Zone
to further delineate in-situ PGE mineralization at the southwestern
extension of the 2-km-long PGE mineralized trend.
Figure 1: Ipueiras target ground mag
anomaly extending for approximately 2 km along strike from
southwest to the northeast. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3c5fefbd-a64a-44fb-9218-ef46e20000f9
Figure 2: Ipueiras Target Plan Map, NE
Zone. Previous assays and new Trado®
drilling highlights. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/12ccd534-dec7-49cb-9c36-24446b6548b5
Figure 3: Ipueiras Target Plan Map, SW
Zone. Trado® drilling highlights
and planned trench location. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/66806b6d-456f-42bb-9d9d-5386caad7052
Figure 4: PGE high-grade “chip” archive
samples from Trado® holes
TR22IP58 and TR22IP59, which returned 8 m grading 2.05 g/t 2PGE+Au
from 1 m, incl. 3 m grading 4.70 g/t 2PGE+Au from 6 m, and 6 m
grading 3.60 g/t 2PGE+Au from 2 m, incl. 4 m grading 5.00 g/t
2PGE+Au from 4 m, respectively. Individual chip trays are 50 x 25
mm. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f9c835b2-64ec-4a95-822a-c1e013c6721b
Figure 5: Photograph from a massive
chromitite “core” augered from 1 to 1.2 m depth at AD22IP61A in the
SW Zone of Ipueiras Target. Sample returned 2.58 g/t 2PGE+Au over
0.50 m. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/87c0e9eb-6afa-4960-b387-567fc0c346d1
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/
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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
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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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