ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced encouraging STEINERT
ore sorting testwork results for ValOre’s 100%-owned Pedra Branca
Platinum Group Element (“PGE”) Project in northeastern Brazil.
Results from the ore sorting program, which used a set of 100
re-assayed and catalogued 5-cm samples of historical NQ drill core
from the Esbarro PGE deposit, demonstrated distinct density
responses for mineralized rock types, as well as barren granites
and gneisses.
Sensory-based rock sorting technologies such as
STEINERT can concentrate ores, remove waste rock and cut process
costs to generate significant positive economic implications for
both metallurgy and OPEX.
“STEINERT ore sorting testwork was initiated to
assess the sortability of mineralized and non-mineralized rock
types at Pedra Branca, with the ultimate goal of improving
metallurgical performance and processing economics. As part of this
test work, the sample set taken from historic NQ drill core was
re-assayed and returned the highest-grade value from a drill core
sample in the history of the project, clearly demonstrating the
presence of high-grade, near-surface PGEs at Pedra Branca,” stated
ValOre’s Chairman and CEO, Jim Paterson. “These results are very
encouraging and warrant immediate expansion of this testwork.
ValOre geologists are preparing a bulk sample to support a
comprehensive, quantitative follow-up sorting test program.”
Highlights from Ore Sorting Testwork at
Esbarro Deposit:
- Sensor-based ore
sorting testwork by STEINERT GmbH demonstrated excellent rock
density sortability, evidenced by distinct X-Ray Transmission
(“XRT”) responses for both PGE mineralized and barren Pedra Branca
rock types;
- Chromitite
samples returned the most distinct XRT response, demonstrating the
greatest potential for ore sorting technology to facilitate a
high-grade fraction;
- Barren granite
and gneiss samples exhibited a unique XRT response, indicating the
potential to separate waste rock from PGE-mineralized rock allowing
for less process dilution;
- PGE-mineralized
dunite, peridotite and serpentinite samples displayed strong XRT
response groupings, revealing further potential for sensor-based
ore sorting;
- Re-assaying of
historical drill core for STEINERT from the Esbarro PGE deposit
returned the highest-grade drill core sample in the history of the
project from a 5-centimetre (“cm”) sample of NQ drill core at 30.35
metres (“m”) depth in drill hole DD18ES15A:
- 176.52 grams per
tonne (“g/t”) palladium + platinum + gold (“2PGE+Au”)
- Comprising
133.35 g/t Pd, 42.24 g/t Pt, and 0.93 g/t Au
- Also returned
3.30 g/t rhodium (“Rh”), or 179.82 g/t 3PGE+Au;
- PGE grades for
the major lithologies selected for ore sorting testwork include:
- Chromitites
(“Cr”, “Cr-reef”): 0.17-30.44 g/t 2PGE+Au (average 10.33 g/t,
excluding sample from DD18ES15A grading 176.52 g/t 2PGE+Au)
-
Dunites/peridotites/serpentinites/pyroxenites: 0.07-10.15 g/t
2PGE+Au (average 1.86 g/t)
-
Granites/gneisses/amphibolites: barren;
- Based on the
encouraging initial sortability test results, ValOre will broaden
the scope for more thorough quantitative assessment with a 300
kilogram (“kg”) bulk sample to support additional testwork at
STEINERT.
Esbarro PGE Deposit Ore Sorting
Testwork
The Esbarro PGE deposit hosts an at-surface
resource estimate of 9.9 million tonnes (“Mt”) grading 1.23 g/t
2PGE+Au totaling 394,000 ounces (“oz”). CLICK HERE
for the Pedra Branca NI 43-101 Technical Report. The resource
estimate is supported by 91 drill holes, with an average hole
spacing of 45 m and is situated within a 3-kilometre (“km”) radius
of additional at-surface PGE resource areas, Cedro (4.2 Mt grading
1.10 g/t 2PGE+Au totaling 151,000 oz) and Curiu (1.6 Mt grading
1.93 g/t 2PGE+Au totaling 100,000 oz). CLICK HERE
for Figure 1A and 1B, showing the location of the
five Pedra Branca PGE resource areas and a detailed view of
Esbarro, respectively.
STEINERT ore sorting testwork was initiated to
assess the sortability of PGE mineralized rocks from barren rocks
at Pedra Branca, with the ultimate goal of improving metallurgical
performance and processing economics. One hundred historical drill
core samples from six representative rock types were submitted from
the Esbarro deposit, and sensory-based results were compared with
assay data from SGS, Vespasiano, Minas Gerais to assess both rock
type- and grade-dependent sortability. CLICK HERE
for Table 1, showing the full list of samples, assay results, and
sensor results.
Density data from STEINERT XRT analyses
demonstrated distinct sensory responses for mineralized rock types
(chromitites, dunites, peridotites) and barren lithologies
(granites and gneisses). The distinct XRT-assessed densities
reported herein demonstrate excellent potential sortability of:
- high-grade PGE
rocks types (chromitite);
- low- to
medium-grade PGE rock types (dunites, peridotites, serpentinites,
pyroxenites); and
- barren waste
rock types (granites and gneisses).
XRT density data is recorded as Minimum Density
(“MD”), which reports the proportion of XRT-defined pixels inside
the low-density curve, with lower MD values representing higher
rock density. See Figure 2 Table 2 below for a graph of 2PGE+Au
(g/t) versus MD, and a summary table of average MD values for each
rock type, respectively.
Figure 2 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/82de9a7e-5fee-4a91-ba81-9ff385f111c1
Table 2: Summary of MD Values,
Demonstrating Excellent Sortability
Rock Type |
# Samples |
Relative Grade |
Average MD |
Chromitite |
30 |
High (avg. 10 g/t) |
0.20 |
Dunite |
15 |
Medium (avg. 3.5 g/t) |
0.53 |
Peridotite |
15 |
Medium (avg. 1.8 g/t) |
0.64 |
Serpentinite/Pyroxenite |
9 |
Low (avg. 0.4 g/t) |
0.60 |
Serpentinite/Dunite |
11 |
Low (avg. 0.8 g/t) |
0.55 |
Gneiss/Granite/Amphibolite |
20 |
Barren |
0.78 |
Note: MD (Minimum Density) represents XRT
proportion of pixels inside the low-density curve, per particle.
Lower MD = higher density.
Assaying of the 100 core samples used for
STEINERT testwork returned the highest-grade drill core sample in
the history of the Pedra Branca project: 176.52 g/t 2PGE+Au
(133.35 g/t Pd, 42.24 g/t Pt and 0.93 g/t Au), in addition to 3.30
g/t Rh (179.82 g/t 3PGE+Au). This sample was collected
from a 5-cm sample of NQ drill core at 30.35 m depth in drill hole
DD18ES15A. This clearly demonstrates the presence of high-grade,
near-surface PGEs at Pedra Branca. See Table 3 below for the
3PGE+Au assay results.
Table 3: Assay Results for Core Sample
99035
Drill Hole |
Sample |
Depth(m) |
Au(g/t) |
Pd(g/t) |
Pt(g/t) |
2PGE+Au(g/t) |
Rh(g/t) |
3PGE+Au(g/t) |
DD18ES15A |
99035 |
30.4 |
0.93 |
133.35 |
42.24 |
176.52 |
3.30 |
179.82 |
About STEINERT Ore Sorting
STEINERT GmbH supplies sensory-based rock
sorting technologies to operating mining projects around the world.
Sorting waste rock from ore at an early processing stage has
significant positive economic implications for reducing both
metallurgy and operating costs.
XRT is ideally suited for ore sorting because
the x-ray radiation can penetrate stones with particle sizes up to
100 mm. In addition to XRT, STEINERT offers further sensors that
can be combined with one another in a multi-faceted sensory
approach. X-Ray Fluorescence (“XRF”) can be used to determine and
sort individual chemical elements very precisely. Further, optical
sorting and lasers are very well suited to the detection of ores
with different colours, such as copper oxide, or crystalline
structures in quartz.
Further information about STEINERT ore sorting
can be found in the link below:
https://steinertglobal.com/
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, 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 current Inferred
Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million
tonnes grading 1.22 g/t 2PGE+Au (see 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 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 604.653.9464, or by email at
contact@valoremetals.com.
ValOre Metals Corp. is a proud member of
Discovery Group. For more information please visit:
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