ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced assay results for 3
trenches and 19 Trado® auger holes collected from the Santo Amaro
South target area at ValOre’s 100%-owned Pedra Branca Platinum
Group Elements (“PGE”) Project in northeastern Brazil.
“We have just begun receiving encouraging assays
from Trado® auger drilling and mechanical trenching, which define a
PGE-mineralized trend 800 metres to the south of the Santo Amaro
inferred resource,” stated ValOre’s Chairman and CEO, Jim Paterson.
“Follow-up work will test continuity and extensions of the
undrilled >400 m long PGE-mineralized ultramafic belt at Santo
Amaro South.”
Santo Amaro South Trenching and
Trado® Auger Drilling
Highlights:
- Three trenches
returned significant intervals of PGE mineralization, including:
- 20 metres
(“m”) grading 1.06 grams per tonne palladium + platinum + gold
(“g/t 2PGE+Au”), including 7 m grading 1.93 g/t 2PGE+Au
- Contained within
a broader interval of 61 m grading 0.43 g/t 2PGE+Au
- Individual
sample assays as high as 5.07 g/t 2PGE+Au
- 77 m grading
0.20 g/t 2PGE+Au
- 11 m grading 0.35 g/t 2PGE+Au
- Trado® auger
drilling assay highlights, from surface, include:
- 10 m grading
1.64 g/t 2PGE+Au
- 4 m grading 1.09
g/t 2PGE+Au
- 3 m grading 0.66
g/t 2PGE+Au
- Assay results
validate Trado® auger drilling as an effective exploration
technique to confirm near-surface PGE mineralization at Pedra
Branca and advance targets to drill-ready stage.
Santo Amaro South 2021
Trado® Auger Drilling and
Trenching Program
Assay results for 3 east-west trenches (194
total samples) and 19 vertical Trado® auger holes (71 total
samples) have been received for the Santo Amaro South target area,
with significant PGE assays returned for all 3 trenches and
multiple Trado® auger holes. Trado® hole logging, trench mapping,
and subsequent assay results have defined multiple un-drilled,
north-south-trending mineralized UM packages which exceed 400 m in
length and remain open along both directions of geological strike.
See Table 1 below for a summary of significant trench and Trado®
PGE assay intervals, CLICK HERE for Figure 1, showing a map of the
Santo Amaro and Santo Amaro region, CLICK HERE for Figure 2,
showing a detailed view of the Santo Amaro South target, and CLICK
HERE for Figure 3 showing cross sections of the 3 trenches with
coincident Trado® auger holes.
The northernmost trench, TR21SAS01, totaled 79 m
in length, and exposed mineralized ultramafics (peridotites and
dunites with subordinate serpentinites) from 17 to 79 m, with
localized centimetric chromitite horizons. The trench returned a
channel sample assay of 20 m grading 1.06 g/t 2PGE+Au from 18 m,
within a broader mineralized interval of 61 m grading 0.43 g/t
2PGE+Au from 18 m.
The southernmost trench, TR21SAS03 was excavated
approximately 400 m south of TR21SA01, totaled 85 m in length, and
exposed mineralized peridotites (with minor serpentinites) from 0
to 81 m. The trench returned a channel sample assay of 77 m grading
0.20 g/t 2PGE+Au from 49 m, including 44 m grading 0.25 g/t 2PGE+Au
and 4 m grading 0.61 g/t 2PGE+Au from 53 m.
Trench TR21SAS02 was opened approximately 200 m
northwest of TR21SAS03 and 250 m southwest of TR21SAS01, totaled 77
m in length, and exposed mineralized ultramafic derived rocks from
51.6 to 58.3 m. The trench returned a channel sample assay of 11 m
grading 0.35 g/t 2PGE+Au from 49 m.
Trado® auger drilling proved highly effective at
locating prospective UM rocks beneath overburden and confirming the
presence of shallow (10 m or less) associated PGE mineralization.
Trado® hole AD21SAS12, situated 160 m west (up-dip) of trench
TR21SAS03, drilled 10 m of highly magnetic pale-green to
light-brown soil with UM rock fragments from surface, and returned
an assay of 10 m grading 1.64 g/t. Sixty metres to the northeast,
Trado® hole AD21SAS08, drilled a correlative sequence from surface
to 4 m depth which returned a 2PGE+Au assay of 1.09 g/t. Trado®
hole AD21SAS29 tested the sequence 260 m to the northeast of
AD21SAS08, and returned an assay of 3 m grading 0.66 g/t from
surface. These results validate the use of Trado® auger drilling to
identify shallow PGE mineralization at Pedra Branca, and the use of
this exploration technique will be implemented property-wide to
advance targets to drill-ready stage.
Table 1: Santo Amaro South
Trado® Auger Drilling and
Trenching Assay Highlights
2021 Trenching Highlights |
Trench |
Channel From (m) |
Channel To (m) |
Length (m) |
2PGE+Au (g/t) |
TR21SAS01 |
18 |
38 |
20 |
1.06 |
TR21SAS01 |
18 |
79 |
61 |
0.43 |
TR21SAS03 |
4 |
81 |
77 |
0.2 |
TR21SAS02 |
49 |
60 |
11 |
0.35 |
2021 Trado® Auger
Drilling Highlights |
Trado®
Hole |
Depth From (m) |
Depth To (m) |
Length (m) |
2PGE+Au (g/t) |
AD21SAS12 |
0 |
10 |
10 |
1.64 |
AD21SAS08 |
0 |
4 |
4 |
1.09 |
AD21SAS29 |
0 |
3 |
3 |
0.66 |
About Trado®
Auger Drilling
The Trado® is a portable machine-powered auger
drill specifically designed for mineral exploration. The device is
capable of drill up to 30 meters depth through soil and saprolite
rock, and most holes terminate at the onset of competent bedrock.
Overburden is typically shallow at Pedra Branca (< 5 m), and
thus ValOre’s average Trado® hole depth is approximately 3 m, with
a maximum depth of 10 m, to date. The tool is manufactured by the
Brazilian company Trado® Equipment and Services, founded in 1978,
and has been widely used by junior and major companies throughout
Brazil. ValOre’s Trado® auger hole locations were captured by
handheld GPS, and auger hole samples were continuously collected in
one-meter intervals from surface to end of hole. The first 20
centimeters (“cm”) interval of every hole is discarded to avoid
contamination by colluvium material. Auger holes were drilled with
4” diameter bits, and material is recovered from inside the auger
bit, which can accommodate up to 20 to 30 cm of material per run.
Approximately 7 to 10 runs are necessary to complete a one-meter
sample. At the drill site, the material from each run is removed
from the bit and collected in plastic bins. Once the metre-long
interval has been drilled, the sample is homogenized over clean
plastic sheets, and a representative aliquot poured into plastic
sample bags. Samples are subsequently transported to ValOre’s
logging facility, in Capitão Mor, Ceará, Brazil, where magnetic
susceptibility and portable-XRF readings are taken for each sample.
An identification tag is inserted in each bag, and samples are sent
with an ensured chain of custody to SGS Geosol Vespasiano, an
accredited mineral analysis laboratory in Minas Gerais, for
geochemical analyses. All samples are analyzed for PGE+Au (Pd, Pt,
Au) content using standard 50g Fire Assay and ICP-AES techniques.
Certified PGE ore reference standards, blanks and field duplicates
are inserted as a part of ValOre’s QA/QC program. No QA/QC issues
were noted with the results reported herein.
Trenching Methodology
Trenches at Santo Amaro South were mechanically
opened perpendicular to the local structural trend, along an
east-west azimuth. Trenches vary from 70 to 90 m in length, and 60
to 80 cm in width, reaching up to 3 m depth. After detailed
geological mapping of trench walls and floor, a channel is marked
on the north wall, with wood markers placed at “from” and “to”
positions for each sample interval. Average sample interval length
is 1 m, while respecting geological contacts, observed
mineralization, and alteration features. Samples were taken with a
chisel-like tool and dropped to plastic bins placed underneath the
channel. The material was then identified and bagged at trench
site, prior to transport to ValOre’s logging facility, where
portable XRF and magnetic susceptibility measurements are taken.
All samples are sent with an ensured chain of custody to SGS Geosol
Vespasiano, an accredited mineral analysis laboratory in Minas
Gerais, for geochemical analyses. All samples are analyzed for
PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and
ICP-AES techniques. Certified PGE ore reference standards, blanks
and field duplicates are inserted as a part of ValOre’s QA/QC
program. No QA/QC issues were noted with the results reported
herein.
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 39
exploration licenses covering a total area of 39,987 hectares
(98,810 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
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:
discoverygroup.ca
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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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