ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today provided an update on a
metallurgical testwork program for ValOre’s 100%-owned Pedra Branca
Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”)
in northeastern Brazil.
“We are very encouraged by our first locked
cycle flotation test that gave recoveries of 82.9% for platinum,
71% for palladium and 85.2% for gold on an unweathered sample from
the Curiu PGE deposit, and have now started testwork on weathered
Curiu material,” stated ValOre’s VP of Exploration, Colin Smith.
“Once both fresh and weathered material flowsheets are established
for Curiu, we will continue metallurgical testwork for our other
Pedra Branca PGE deposits defined in ValOre’s 2022 resource
re-estimation, which is expected this month.”
Highlights of the Metallurgical
Testwork:
-
Recoveries of 82.9% for platinum (Pt), 71% for palladium
(Pd) and 85.2% for gold (Au) were achieved by the first
locked cycle flotation test on a fresh, unweathered 30-kilogram
(“kg”) sample composited from Curiu PGE deposit drill core;
- This locked
cycle flotation test produced a concentrate grading 78.4
grams per tonne g/t 2PGE+Au;
- Based on the
information available to date, no deleterious element thresholds
were exceeded, and a detailed elemental analysis on the concentrate
is underway.
2022 Locked Cycled Flotation
Test
One locked cycle flotation test was completed by
ALS Metallurgy Kamloops (“ALS”) on a composite sample of fresh,
unweathered Curiu PGE deposit dill core, following the completion
of 22 rounds of recent flotation testwork to optimize flowsheet
design. Recoveries of 82.9% for Pt, 71% for Pd and 85.2% for Au
were achieved, resulting in a final concentrate grade of 78.4 g/t
2PGE+Au. Based on the information available to date, no deleterious
element thresholds were exceeded, and a detailed elemental analysis
on the concentrate is underway. Table 1 is a summary of test
results from the locked cycle flotation test.
Table 1: Locked Cycle Flotation Test
Results, ALS Metallurgy Kamloopsis available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fe922a3d-6b90-46b9-800b-29516e3adc99
Testwork Commenced on Weathered and
Blended Material
Flotation testwork has commenced on weathered
and blended (fresh + weathered) composite samples of Curiu PGE
deposit drill core, applying a similar flowsheet as used in the
locked cycle flotation test. Preliminary results suggest that
adjustments to the flowsheet will be required, after 5 rounds of
floatation testwork on the weathered sample, and 2 rounds on the
blended sample. No locked cycle tests have been performed on the
weathered Curiu material to date.
2021 Metallurgical Drill
Program
CLICK HERE for news release dated October 4,
2021, for assay results from the Esbarro and Curiu drill program,
and CLICK HERE for news release dated January 18, 2022, for assay
results from the Cedro drill program.
ALS Metallurgy Testwork
Program
CLICK HERE for news release dated October 4,
2021, for more information regarding the ALS testwork program, and
CLICK HERE for more information regarding ALS Metallurgy
Kamloops.
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 51
exploration licenses covering a total area of 55,984 hectares
(138,339 acres) in northeastern Brazil. At Pedra Branca, 5 distinct
PGE+Au deposit areas host, in aggregate, a current Inferred
Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million
tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23,
2019 news release). 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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