ValOre
Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced initial trench assay
results from the Galante East target (“Galante East”) at ValOre’s
100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”)
Project (“Pedra Branca”) in northeastern Brazil.
“ValOre’s exploration team continues to
successfully utilize Trado® auger drilling and trenching to
identify near surface palladium-platinum mineralization at multiple
targets property wide,” stated ValOre’s VP of Exploration, Colin
Smith. “The trench results at Galante East confirm the presence of
in-situ PGE mineralization, demonstrate potential continuity of
target chromite-bearing ultramafic rocks over 2.5 km of trend, and
warrant follow-up testing in future drill programs.”
Galante East Trenching
Highlights:
Assays have been received for 6 of 7 trenches,
with all 6 trenches returning PGE mineralization, including:
- 53 metres (“m”)
grading 0.59 grams per tonne palladium + platinum + gold (“g/t
2PGE+Au”), including 6 m grading 1.07 g/t 2PGE+Au and 3 m grading
1.44 g/t 2PGE+Au in trench TR22GE01;
- 31 m grading
0.83 g/t 2PGE+Au, including 16 m grading 1.39 g/t 2PGE+Au and 4 m
grading 3.86 g/t 2PGE+Au in trench TR22GE02;
- 19 m grading
0.54 g/t 2PGE+Au including 2 m grading 1.40 g/t 2PGE+Au in
TR22GE05.
Assays are pending for the southernmost trench,
TR22GE07, which intercepted 90 m of ultramafic and
ultramafic-derived rocks ("UM” and “UM-derived”).
Galante East 2022 Exploration Program
The Galante East target is a 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).
Previously reported reconnaissance mapping and
prospecting, soil sampling and Trado® auger programs served to
corroborate and refine the historically mapped target UM intrusions
and associated PGE mineralization, and supported the completion of
a 2022 trenching program to further advance this undrilled
3-km-long trend. (CLICK HERE for news release dated May 2, 2022 and
CLICK HERE for news release dated June 23, 2022). See Figure 1
below for a plan map of Galante East.
Detailed mapping and sampling were performed at
seven trenches excavated at the Galante East target (471 metres in
total length), with target UM intrusions intercepted in all 7
trenches, and initial PGE assays reported in this release for 6 of
7 trenches (TR22GE01 to TR22GE06). Assays are pending for trench
TR22GE07. See Table 1 below for a summary of trench assays received
to date, Figure 2 for photographs, and Figures 3a-3b for cross
sections of trenches TR22GE01 and TR22GE02.
Table 1: Trench assays reported to date
for Galante East Target.
Trench ID |
From (m) |
To (m) |
*Length (m) |
2PGE+Au (g/t) |
Summary Interval |
TR22GE01 |
32.00 |
85.00 |
53.00 |
0.59 |
53 m grading 0.59 g/t 2PGE+Auincl. 6 m
grading 1.07 g/t 2PGE+Auand 3 m grading 1.44 g/t
2PGE+Au |
43.00 |
49.00 |
6.00 |
1.07 |
65.00 |
68.00 |
3.00 |
1.44 |
TR22GE02 |
20.00 |
51.00 |
31.00 |
0.83 |
31 m grading 0.83 g/t 2PGE+Auincl. 16 m
grading 1.39 g/t 2PGE+Auand 4 m grading 3.86 g/t
2PGE+Au |
25.00 |
41.00 |
16.00 |
1.39 |
37.00 |
41.00 |
4.00 |
3.86 |
TR22GE03 |
48.00 |
59.00 |
11.00 |
0.38 |
11 m grading 0.38 g/t 2PGE+Au |
TR22GE04 |
13.00 |
15.00 |
2.00 |
0.35 |
2 m grading 0.35 g/t 2PGE+Auand 5 m grading 0.26 g/t 2PGE+Au |
26.00 |
31.00 |
5.00 |
0.26 |
TR22GE05 |
15.00 |
34.00 |
19.00 |
0.54 |
19 m grading 0.54 g/t 2PGE+Auincl. 2 m
grading 1.40 g/t 2PGE+Au |
21.00 |
23.00 |
2.00 |
1.40 |
TR22GE06 |
3.00 |
22.00 |
19.00 |
0.31 |
19 m grading 0.31 g/t 2PGE+Auand 2 m grading 0.25 g/t 2PGE+Au |
36.00 |
38.00 |
2.00 |
0.25 |
*Reported trench assay interval
lengths are channel samples and estimated to represent 70-80% true
width
Figure 1: Plan map of Galante East,
highlighting 2022 trenches along the main mineralized
trends is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c7ed9c87-56c9-4840-ac00-3ed6dc57e6a1
Figure 2: Photographs from trenching at Galante East (A
and B), and a chromite-rich peridotite sample (C) collected at
trench TR22GE01 from an interval assaying 1.07 g/t 2PGE+Au over 6
m is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f5df8826-48b1-4029-a97e-1b8cc05b931d
Figure 3a: Trench TR22GE01 cross section, Galante East,
highlighting geology, assays, and proximal
Trado® auger
drilling is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/22d51b41-3d96-4449-b4e9-fdd14eb761f2
Figure 3b: Trench TR22GE02 cross section, Galante East,
highlighting geology and assays is available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/ee5e3442-c2c7-4606-b3ca-8495d8aa18ea
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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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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