ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTCQB: KVLQF;
Frankfurt: KEQ0, “the Company”) today provided an update
on the ongoing exploration program for the Salvador target
(“Salvador”) at ValOre’s 100%-owned Pedra Branca Platinum Group
Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in
northeastern Brazil.
“Our ongoing exploration program at the Salvador
target has yielded encouraging results, with initial Trado® and
rock assays, trenching and field mapping all confirming in-situ PGE
mineralization and extending the prospective Salvador PGE trend to
2 km in strike length,” stated ValOre’s VP of Exploration, Thiago
Diniz. “Additionally, preliminary ground geophysical data shows
consistent magnetic anomalies along strike, which increases our
confidence that this program will set the stage for future
discoveries and resource expansion drill programs at Salvador.”
2024 Salvador Exploration Program
Highlights
Salvador field exploration program is in
progress, with Trado® auger drilling, rock sampling and trenching
confirming continuity of PGE-bearing ultramafic (“UM”) rocks along
trend to the north of the 2023 drill zone:
- PGE
mineralization reported in 15 of 20 UM-bearing Trado® holes;
- High-grade PGE
assay results reported from outcropping chromitite:
- 11.17 grams per
tonne palladium + platinum + gold (“g/t 2PGE+Au”) – Sample
103792;
- Trench mapping
and sampling is completed, with 108 samples sent for assay
analysis;
- Ground
geophysical survey field work is completed, interpretation
ongoing;
- Additional field
mapping, rock sampling, and Trado® auger drilling following up on
new ultramafic occurrences and preliminary magnetic anomalies in
the north extension of the target area continues;
- Current results and new UM
occurrences extend Salvador’s PGE-prospective trend to a total of 2
km in strike-length;
See Figure 1 for a plan view of the Salvador target, and
location of the 2024 exploration work; and Table 1 for a summary of
the exploration totals for Trado® and trenching programs.
Figure 1: Salvador target plan view, with
location of the 2024 exploration work activities.
Table 1: Trado® and trenching exploration totals
to date.
|
Target |
Activity |
# Holes/Trenches |
Total Meters |
UM Length (m) |
Total#assays |
# Assayspending |
|
Salvador |
Trado Auger Drilling |
35 |
101 |
77 |
107 |
21 |
|
Salvador |
Trenching |
4 |
95 |
51 |
108 |
108 |
Trado®
auger drilling
Trado® auger drilling has intercepted ultramafic
rocks in 25 of 35 Trado® auger drill holes completed to date (77 m
of 101 m drilled in total).
Trado® assay results have been received for 20
UM-bearing Trado holes, with PGE mineralization reported in 15
Trado® holes.
Table 2: Trado® auger drilling assay
highlights:
|
Target |
Trado hole ID |
From (m) |
To (m) |
Length (m) |
2PGE+Au (g/t) |
Litho |
2PGE+Au Interval Summary |
|
Salvador |
AD24MES29 |
0.0 |
2.5 |
2.5 |
0.20 |
Ultramafic |
2.5 m @ 0.20 g/t 2PGE+Au |
|
Salvador |
AD24MES30 |
0.0 |
1.6 |
1.6 |
0.14 |
Ultramafic |
1.6 m @ 0.14 g/t 2PGE+Au |
|
Salvador |
AD24MES32 |
0.0 |
6.0 |
6.0 |
0.27 |
Ultramafic |
6.0 m @ 0.27 g/t 2PGE+Au |
|
Salvador |
AD24MES33 |
0.0 |
4.0 |
4.0 |
0.48 |
Ultramafic |
4.0 m @ 0.48 g/t 2PGE+Au |
|
Salvador |
AD24MES34 |
0.0 |
2.0 |
2.0 |
0.12 |
Ultramafic |
2.0 m @ 0.12 g/t 2PGE+Au |
|
Salvador |
AD24MES37 |
0.0 |
1.7 |
1.7 |
0.99 |
Ultramafic and Chromitite |
1.7 m @ 0.99 g/t 2PGE+Au |
|
Salvador |
AD24MES38 |
0.0 |
4.0 |
4.0 |
0.19 |
Ultramafic |
4.0 m @ 0.19 g/t 2PGE+Au |
|
Salvador |
AD24MES39 |
0.0 |
3.0 |
3.0 |
0.12 |
Ultramafic |
3.0 m @ 0.12 g/t 2PGE+Au |
|
Salvador |
AD24MES40 |
0.0 |
4.0 |
4.0 |
0.18 |
Ultramafic |
4.0 m @ 0.18 g/t 2PGE+Au |
|
Salvador |
AD24MES44 |
1.0 |
2.5 |
1.5 |
0.50 |
Ultramafic |
1.5 m @ 0.50 g/t 2PGE+Au |
|
Salvador |
AD24MES47 |
0.0 |
2.5 |
2.5 |
0.14 |
Ultramafic |
2.5 m @ 0.14 g/t 2PGE+Au |
|
Salvador |
AD24MES48 |
0.0 |
1.5 |
1.5 |
0.34 |
Ultramafic |
1.5 m @ 0.34 g/t 2PGE+Au |
|
Salvador |
AD24MES49 |
0.0 |
5.0 |
5.0 |
0.39 |
Ultramafic |
5.0 m @ 0.39 g/t 2PGE+Au |
|
Salvador |
AD24MES50 |
0.0 |
2.0 |
2.0 |
0.29 |
Ultramafic |
2.0 m @ 0.29 g/t 2PGE+Au |
|
Salvador |
AD24MES51 |
0.0 |
1.0 |
1.0 |
0.17 |
Ultramafic |
1.0 m @ 0.17 g/t 2PGE+Au |
Trenching
Four trenches were excavated, totalling 95
metres (“m”) in length, with all four exposing UM and UM-derived
rocks, including chromitite layers in the central trenches,
TR24MES06 and TR24MES07, to the north along strike from the area of
2023 Salvador drill program. Trench assays are pending.
See Figure 2 for trenching program photos,
including chromitite and chromite-rich rocks intercepted in
trenches TR24MES06 and 07.
Figure 2: 2024 Salvador trenching program.
Mapping and sampling of trench TR24MES06 (left), and centimetric
chromitite layer (CR) within serpentinized ultramafics (UMD) and
phlogopite (PHL) (right).
Ground geophysical survey
50-line kilometres (“km”) of ground magnetics
and gamma spectrometry data have been acquired, covering the entire
strike-length of the Salvador target and its extensions.
A 3D inversion modeling and structural
interpretation is in progress.
Field mapping and rock
sampling
To date, 25 rock samples have been sent to SGS lab, with assay
results received for 6 samples, including high-grade PGE
mineralization in two chromitite occurrences located near the 2024
trench TR24MES08, and remaining 4 samples with anomalous PGE
grades; Highlights:
- 11.17 g/t 2PGE+Au – Chromitite
outcrop, sample 103792;
- 6.24 g/t 2PGE+Au – Chromitite grab
sample 103795.
Quality Assurance/Quality Control
(“QA/QC”)
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
Thiago Diniz, 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 team aiming 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 and innovation.
ValOre’s Pedra Branca Platinum Group Elements
Project comprises 45 exploration licenses covering a total area of
51,096 hectares (126,260 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. ValOre’s team believes the Pedra
Branca project has significant exploration discovery and resource
expansion potential. (CLICK HERE to download 2022 technical report*
and CLICK HERE for news release dated March 24, 2022).
*The 2022 Technical Report is entitled
“Independent Technical Report –Mineral Resource Update on the Pedra
Branca PGE Project, Ceará State, Brazil” was prepared as a National
Instrument 43-101 Technical Report on behalf of ValOre Metals Corp.
with an effective date of March 08, 2022. The 2022 Technical Report
by Independent qualified persons, Fábio Valério (P.Geo.) and
Porfirio Cabaleiro (P.Eng.), of GE21, commissioned to complete the
mineral resource estimate while Chris Kaye of Mine and Quarry
Engineering Services Inc. (MQes), was commissioned to review the
metallurgical information. The Mineral Resource estimates were
prepared in accordance with the CIM Standards, and the CIM
Guidelines, using geostatistical, plus economic and mining
parameters appropriate to the deposit. Mineral Resources, which are
not mineral reserves, do not have demonstrated economic viability,
and may be materially affected by environmental, permitting, legal,
marketing, and other relevant issues. Mineral Resources are based
upon a cut-off grade of 0.4 g/t PGE+Au, correlated to Pd_eq grade
of 0.35 g/t, and were limited by an economic pit built in Geovia
Whittle 4.3 software and following the geometric and economic
parameters as disclosed in the 2022 NI 43-101 Technical Report,
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 604.646.4527,
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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the adequacy or accuracy of this release.
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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
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financial or operating results or (as applicable), their
securities.
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