ValOre Metals Corp. ("ValOre";
TSX‐V: VO; OTC: KVLQF; FRANKFURT:
KEQ0) ValOre today announced a significant strengthening
of the Company’s technical team and an update on the 2020 core
drill program for ValOre’s 100%-owned Pedra Branca Platinum Group
Element Project (“PGE”, “2PGE+Au”) in northeastern Brazil.
Key Updates on ValOre’s 2020 PGE
Exploration Programs:
- ValOre’s technical team grows to include technical advisors
Robert A. Brozdowski, Ph.D., P.Geo., Robert Carpenter, Ph.D.,
P.Geo., and in-country Project Geologist, Thiago Diniz,
P.Geo.;
- Selection of Servitec Foraco for upcoming drill program, with
mobilization of drill rig and crews initiated immediately, with an
expected drill-ready timeline of three weeks;
- For overview of the proposed 2020 exploration program at Pedra
Branca, please see ValOre news release from April 27, 2020
“We are very proud of the technical team ValOre
has now assembled, including the great minds and highly relevant
experience of Dr. Robert Brozdowski and one of ValOre’s founders,
Dr. Robert Carpenter. Colin Smith has effectively quarterbacked a
world class team of in-house professionals and external consultants
that have systematically extracted significant value from the Pedra
Branca data set to-date. With the recent addition of the Brazilian
expertise of Thiago Diniz, the team is now in the position to
deploy a carefully constructed, high impact exploration program at
Pedra Branca,” stated Jim Paterson, Chairman & CEO. “We look
forward to a productive and safe working relationship with
Servitec-Foraco as we commence our highly anticipated drill program
at Pedra Branca – a district scale palladium/platinum project in
north-eastern Brazil.”
ValOre Bolsters Technical
Team
ValOre has added significant strength to the
Company’s technical team with consulting exploration geologists and
technical/corporate advisors Robert A. Brozdowski, Ph.D., P. Geo.,
and Robert Carpenter, Ph.D., P. Geo., bringing a combined 55+ years
of exploration experience, direct expertise with PGE-enriched
ultramafic systems, and a track record of significant discoveries.
In addition, ValOre has hired an in-country Project Geologist,
Thiago Diniz, M.Sc., P.Geo., to assist in the execution and
management of upcoming 2020 exploration programs. They join Colin
Smith, M.Sc., P.Geo., who oversees New Project Review for ValOre.
See About ValOre’s Technical Team below.
2020 Drill Program Update
ValOre has an agreement with drilling company
Servitec Foraco Sondagem SA (“Servitec-Foraco”) to complete a
6,000 metre core drill program at Pedra Branca. Mobilization of a
drill rig and crews will commence immediately, with an expected
start of drilling in 3 weeks for the fully permitted, two-Phase
program (Phase 1 and Phase 2 totaling 2,875m and 3,035m,
respectively).
About Servitec-Foraco Sondagem
SA
Servitec-Foraco is a Brazilian company based in
the State of Goiás that started operating as Servitec in 2000 and
through innovation, investment, and continuous improvement, emerged
as one of the pioneers of drilling in Brazil. With a prominent
position on the national scene, Servitec was acquired in 2012 by
one of the global drilling leaders, Foraco International, forming
Servitec-Foraco.
Servitec-Foraco has more than 700 employees and
90 drill rigs, and operates throughout Brazil with clients such as
Nexa Resources S.A., NX Gold S.A., Lundin Mining Corporation, CMOC
Brasil. Servitec-Foraco is committed to conducting drill programs
with high levels of productivity, safety and respect for the
environment and legislation.
ValOre and Servitec-Foraco COVID-19
Protocols
ValOre and Servitec-Foraco are closely
monitoring impacts on the companies’ operations and business
preparedness plans, as the health and safety of employees,
contractors and associated communities is a top priority.
As part of the safety protocol, the companies
have implemented screening procedures, daily temperature
monitoring, self-assessment checklist and issued directives
regarding social distancing to ensure a safe environment for
operations.
Servitec-Foraco has an extensive procedural
guide on hygiene and conduct to be adopted on a daily basis during
and after work hours.
These decisions reinforce the companies’
objective of preventing the transmission of COVID-19 among its
employees, contractors and the communities proximal to drilling
activities.
About ValOre’s Technical
Team
Robert A. Brozdowski, Ph.D., P. Geo.,
Consulting Exploration Geologist
Dr. Brozdowski has more than 30 years of diverse
exploration experience emphasizing Ni-Cu-PGE in magmatic conduits,
zoned and layered intrusions, but also including orogenic gold,
uranium, VMS, SEDEX, and IOCG deposits. He worked for Callahan
Mining Corp. from 1983-1991 and subsequently with Western Mining
Corporation (later WMC) from 1992-1998 with a focus on generative
and early stage exploration. As a consulting exploration geologist
since 1998, Bob has been involved in regional project generation,
integrated regional field programs, and property-scale exploration
projects for major, junior and private clients in North and South
America, Asia and Europe and was granted his Ph.D. Geology from
Western University, London, ON, his M.A. Geology from Temple
University, Philadelphia, PA, and a B.S. Geosciences from
Pennsylvania State University.
Robert Carpenter, Ph.D., P. Geo.,
Consulting Exploration Geologist
With over 25 years of technical and executive
experience for junior and major mining companies, Dr. Carpenter was
co-founder and President and CEO of Kaminak Gold Corporation from
2005 to 2013 and led the company through the acquisition, discovery
and maiden resource of the 5 million ounce Coffee Gold Project,
located in the White Gold District, Yukon. This project was
subsequently acquired by Goldcorp Inc. in 2016. Rob was also a
founder of ValOre’s predecessor company “Kivalliq Energy
Corporation”, when Kivalliq Energy was spun out of Kaminak via a
plan of arrangement in 2008; thus his history with ValOre and his
significant executive experience make him a trusted corporate
advisor.
Dr. Carpenter has received awards from the
Association for Mineral Exploration of British Columbia for
excellence in mineral exploration (2013) and social and
environmental stewardship (2008). In 2004, he completed his Ph.D.
at Western University, London, Ontario where he worked on the newly
discovered Meliadine Lake gold deposits that are currently owned by
Agnico Eagle Mines Limited.
Thiago Diniz, M.Sc., P.Geo., Project
Geologist
Mr. Diniz is a Brazilian exploration geologist
with 7 years of experience working on the exploration and
development stages of fertilizer, base and precious metals
projects, both in Brazil and Canada. Thiago holds a B.Sc. degree in
Geology from Universidade Federal de Minas Gerais (2013) and
obtained a M.Sc. degree in Economic Geology at Queen’s University,
Kingston, in 2019. Former Geologist for the Canadian Forbes &
Manhattan Group in Brazil, he participated on the resource
delineation of the world-class Autazes Potash deposit, in the
Amazon region, and the carbonatite-hosted Três Estradas phosphate
deposit, in southern Brazil. Most recently, he has actively been
involved on the resource expansion of the Troilus Au-Cu deposit,
hosted in the Archean Frotet-Evans greenstone belt, in Quebec,
Canada. Thiago has acquired extensive experience in field mapping
and core logging, development and management of drilling, QA/QC and
geochemical sampling programs, as well as metallurgical and
geotechnical sampling for pre-feasibility and feasibility studies.
He is a practicing member (P.Geo.) of the Professional
Geoscientists of Ontario.
Colin M. Smith, M.Sc., P.Geo., New
Project Review
Mr. Smith is a P.Geo. in British Columbia,
Saskatchewan, and the Northwest and Nunavut Territories with over
15 years’ experience developing, executing, and managing
exploration campaigns ranging from green-fields target generation
to near-mine resource delineation. He has developed a technical
expertise in structurally controlled gold deposits, PGEs, porphyry
Cu-Au systems, kimberlites, unconformity-hosted uranium and
coal-bed methane. Colin obtained his B.Sc. in Geology from the
University of British Columbia, his M.Sc. in Geology from the
University of Victoria. His most recent role was Senior Exploration
Geologist with SSR Mining Inc. at their Seabee Gold Operation in
northern Saskatchewan, where he designed and advanced green- to
brown-fields exploration programs, resulting in multiple auriferous
discoveries and definitive resource delineation.
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., who oversees New Project Review for
ValOre.
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 38
exploration licenses covering a total area of 38,940 hectares
(96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct
PGE+Au deposit areas host, in aggregate, a NI 43-101 Inferred
Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and
Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading
1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July
23, 2019 news release). PGE mineralization outcrops at surface and
all of the inferred resources are potentially open pittable.
Comprehensive exploration programs have
demonstrated the "District Scale" potential of ValOre’s
89,852-hectare Angilak Property in Nunavut Territory, Canada that
hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of
2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds
U3O8.For disclosure related to the inferred resource of ValOre's
Lac 50 Trend uranium deposits, please refer to ValOre's news
release of 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 toll free at
1.888.331.2269, 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:
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 the Company 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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