ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced Phase 2 soil assay
results from the Galante East target (“Galante”) at ValOre’s
100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”)
Project (“Pedra Branca”) in northeastern Brazil. The excavation of
8 follow-up trenches has commenced to further advance this
undrilled 3-kilometre-long trend.
“Phase 2 geochemical results from Galante East
suggest the presence of undrilled, shallow, PGE-mineralized
intrusions,” stated ValOre’s VP of Exploration, Colin Smith.
“Follow-up trenching has commenced with the planned excavation of 8
trenches totaling approximately 700 m in length, with the intent of
rapidly advancing Galante East to drill-ready stage.”
Galante Target Exploration Program
Highlights:
- Infill soils
program confirms the cumulative 3-kilometre-long (“km”)
palladium-platinum soil anomaly and delineates priority zones of
consistent strong PGE mineralization at surface;
- Three
significant anomalies have been defined for priority follow-up
trenching, including the northern zone with consistent high-grade
PGE mineralization along 600 m of geological trend, and 50 to 100
metres (“m”) width, including:
- Soil PGE grades
averaging 200-300 ppb palladium + platinum + gold (“2PGE+Au”), with
individual soil samples exceeding 800 ppb 2PGE+Au;
- The main zones
are associated with compelling Trado® auger and rock assay results
previously reported (92 Trado® auger holes, 255 m augered),
including:
- 5.0 m grading
1.48 g/t 2PGE+Au from surface
- 2.0 m grading
2.95 g/t 2PGE+Au from surface
- 3.8 m grading
1.18 g/t 2PGE+Au from surface.
Galante East 2022 Exploration Program
The Galante East target is 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). Historical work at Galante East includes localized soil
and rock sampling, geological mapping, and ground magnetics. A
strong PGE deposit signature is evident throughout the compiled
data.
Previously reported regional geological mapping
and prospecting, soil sampling and Trado® auger programs,
corroborated and refined the historically mapped target ultramafic
(“UM”) intrusions and associated PGE mineralization, and supported
the completion of an infill soil sampling program, with two
additional soil lines infilling the 200-m-spaced lines from the
regional survey (CLICK HERE for news release dated May 2,
2022).
Soil assays here reported further delineate
palladium-platinum anomalies of approximately 3 km in cumulative
length and identified 3 high-priority anomalies within the
undrilled 3-km-long trend for immediate follow-up trenching. See
Figure 1 below for a plan map of Galante East.
The “Northern Zone” soil anomaly extends over
1.8 km in length, with continuous palladium and platinum
mineralization returned in soils and Trado® auger holes. A strong
600-m-long PGE response is hosted within this trend, and represents
the broadest and longest high-tenor anomaly at Galante East. See
Figure 2 below for a detailed plan map of the Northern Zone at
Galante East.
Follow-up trenching has commenced, with
excavation of 8 trenches totaling approximately 700 m in
length.
Figure 1: Plan map of Galante East,
highlighting the high-priority mineralized zones, previously
reported Trado® auger assays, and
follow-up
trenches.https://www.globenewswire.com/NewsRoom/AttachmentNg/95ebc7cd-80c5-4e8f-98a6-d3e945a9722f
Figure 2: Photographs of the Galante East area, showing
paved Highway 226 and existing electrical powerlines, which both
crosscut the
target.https://www.globenewswire.com/NewsRoom/AttachmentNg/d3092708-b1f4-4e0b-b2d8-ff12361656b4
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.
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