ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced high-grade rock assay
results from the Tróia target area (“Tróia”) at ValOre’s 100%-owned
Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project
(“Pedra Branca”) in northeastern Brazil.
“The Tróia target has excellent exploration
upside, as evidenced by the high-grade palladium-platinum values
from the initial outcrop and grab sample assay results released
today,” stated ValOre’s VP of Exploration, Colin Smith. “The
1-kilometre-long trend is fully open along strike to in both
directions and remains largely untested at depth. Detailed mapping,
Trado® drilling and trenching will further delineate this broad,
high-grade, shallow intrusion, with the intention of advancing
Tróia into a high priority drill target.”
Tróia Target Exploration Program
Highlights:
- Multiple
high-grade PGE assay results from outcropping chromitites and
mineralized ultramafic (“UM”) samples, including:
- 23.01
grams per tonne palladium + platinum + gold (“g/t
2PGE+Au”) – SAMPLE 103089
- 12.00
g/t 2PGE+Au – SAMPLE 103111
- 8.32 g/t
2PGE+Au – SAMPLE 103091
- 8.15 g/t
2PGE+Au – SAMPLE 103093
- 7.98 g/t
2PGE+Au – SAMPLE 103094
- 3.35 g/t
2PGE+Au – SAMPLE 103095
- Mineralization
occurs within a 50- to 100-metre-wide zone, along 1 kilometre
(“km”) of geological trend, associated with compelling historical
geochemical and geophysical anomalies;
- Trado® auger
drilling is on-going at Tróia, with 46 auger holes (133 m)
completed to date, with UMs encountered in 10 holes (assays
pending);
- Follow-up
trenching will commence upon receipt and review of the Trado® auger
assays.
Tróia 2022 Exploration
Program
ValOre conducted detailed geological mapping and
prospecting along the 1-km-long anomalous trend at Tróia, a target
located 4 km west of Cedro (453,000 oz 2PGE+Au grading 1.03 g/t in
13.6 Mt) and 6 km west of Esbarro, (403,000 oz 2PGE+Au grading 1.16
g/t in 10.8 Mt). The main Tróia zones were subsequently followed up
with 46 Trado® auger holes to date totaling 133 m (on-going), with
UM encountered in 10 Trado® holes (assays pending).
One shallow (49.8 m) historical diamond drill
hole is present in the northern Tróia zone, with no PGEs reported;
however, relogging of the historical core, combined with new field
data, suggests that this hole was shut down at the top contact of
the target UM intrusion, and therefore, excellent potential for
mineralized continuity remains at depth.
A total of 13 outcrop and grab samples were
collected and submitted for assay during the detailed prospecting
and mapping campaign. An average grade of 5.02 g/t 2PGE+Au was
returned, with 11 of 13 samples (85%) reporting PGEs, and 4 samples
assays exceeding 8.00 g/t 2PGE+Au (high of 23.01 g/t 2PGE+Au,
#103089). See Figure 1 below for a plan map of Tróia, Figure 2 for
photographs of the high-grade outcrop and rock samples, and Table 1
for a table of rock sample assays reported herein.
Figure 1: Tróia target plan map with
high-grade rock samples highlighted is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/20f55005-5214-4e46-b29d-99416d7fa8eb
Figure 2: Photographs of high-grade outcrop and rock
samples from Tróia target. A: Outcrop sample 103011
(12.00 g/t 2PGE+Au). B: Grab
sample 103089 (23.01 g/t 2PGE+Au) is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/53b7e4b3-df5e-4b67-89c9-143367cc851c
Table 1: ValOre Rock Sample Assays, Tróia
Target
SAMPLE |
LITHO |
Au (g/t) |
Pd (g/t) |
Pt (g/t) |
2PGE+Au (g/t) |
103089 |
Chromitite |
0.13 |
14.15 |
8.73 |
23.01 |
103111 |
Chromitite |
0.01 |
6.44 |
5.55 |
12.00 |
103091 |
Chromitite |
0.08 |
3.63 |
4.61 |
8.32 |
103093 |
Chromitite |
0.06 |
4.88 |
3.21 |
8.15 |
103094 |
Chromitite |
0.04 |
3.19 |
4.75 |
7.98 |
103095 |
Chromitite |
0.01 |
1.01 |
2.33 |
3.35 |
103090 |
UM-Derived |
0.01 |
0.27 |
1.32 |
1.60 |
103092 |
UM-Derived |
0.01 |
0.41 |
0.1 |
0.52 |
103112 |
UM-Derived |
0.01 |
0.09 |
0.08 |
0.18 |
103097 |
UM-Derived |
0.01 |
0.03 |
0.04 |
0.08 |
103096 |
UM-Derived |
0.01 |
0.01 |
0.03 |
0.05 |
103098 |
UM-Derived |
0.01 |
0.01 |
0.01 |
0.03 |
103110 |
UM-Derived |
0.01 |
0.01 |
0.01 |
0.03 |
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.
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Jun 2024 to Jul 2024
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Jul 2023 to Jul 2024