ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced a fully-funded 2021
exploration program including Reverse Circulation (“RC”) and
diamond drilling (“DD”, “core drilling”) programs at ValOre’s
100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in
northeastern Brazil. RC drilling has commenced, and the first of
two diamond drill rigs is scheduled to arrive by the end of April.
“The application of Trado®, RC and core drilling
at Pedra Branca allows us to systematically accelerate the target
pipeline, from new discovery to resource expansion,” stated
ValOre’s VP of Exploration, Colin Smith. “Pre-drilling Trado® auger
work serves to confirm the presence of mineralized ultramafics
under overburden, and follow-up RC drilling enables the advancement
of these targets at 4x the rate of core drilling.”
Pedra Branca 2021 Exploration
Program:
- Fully funded and permitted 8,000
metre drill program:
- 2,000 metres (“m”) of RC drilling, commenced;
- 6,000 m of core drilling, to commence this month;
- First phase of RC drilling will
test six property-wide target areas, focusing on three target
styles: undrilled new discovery, pre-resource target advancement,
and resource expansion;
- Core drilling will return to high
priority resource expansion and pre-resource targets successfully
drilled in 2020, as well as positive 2021 RC drill results;
- Pre-drilling Trado® auger work will
continue property-wide, advancing additional targets to drill-ready
stage;
- ValOre continues to receive full
support from the local community of Capitão Mor, as well as Ceará
State and federal governmental agency, ANM (Agência Nacional de
Mineração) for on-going exploration of the Pedra Branca PGE
Project.
Pedra Branca 2021 Drill
Program
ValOre has engaged Brazilian drilling companies
Servdrill Perfuração e Sondagem (“Servdrill”) and DrillGeo Geologia
e Sondagem (DrillGeo) for the fully funded and permitted 2021 drill
program at Pedra Branca, which will consist of 2,000 m of RC and
6,000 m of core drilling. The RC drill program has commenced and
will test at least six property-wide target areas with a primary
focus of undrilled new discovery, pre-resource target advancement,
and resource expansion.
The core drilling program will commence this
month with the arrival of 1 of 2 diamond drill rigs. Five
property-wide target areas will be tested with a primary focus of
following up positive RC drill results, advancing targets to
inferred resource category and expanding the Trapia and Santo Amaro
NI 43-101-defined resources. See Table 1 below for a summary of the
2021 RC and core drilling programs, and CLICK HERE
for Figure 1, showing a regional map of 2021 drill targets.
Table 1: Summary Table of 2021 Drill
Program
Reverse Circulation Drilling |
RC Target |
Target Style |
Holes Planned |
Meters Planned |
2020 Twin Holes |
QA / QC (Assay Verification) |
2 |
150 |
Trapia 1 / West / South |
New Discovery, Resource Expansion |
10 |
1000 |
Esbarro Northwest |
New Discovery |
10 |
250 |
Cana Brava |
Pre-Resource Target Advancement |
6 |
300 |
Santo Amaro South |
Pre-Resource Target Advancement |
6 |
300 |
TOTAL |
|
34 |
2,000 |
Diamond Drilling |
DD Target |
Target Style |
Holes Planned |
Meters Planned |
Trapia 1 / 2 / West |
Resource Expansion |
20 |
3000 |
C-04 |
Pre-Resource Target Advancement |
5 |
500 |
Santo Amaro |
Resource Expansion |
12 |
2000 |
Additional Targets TBA |
(all) |
5 |
500 |
TOTAL |
|
42 |
6,000 |
About Servdrill Perfuração e
Sondagem
Servdrill Perfuracao e Sondagem Ltda.
(“Servdrill”) is a Brazilian drilling company founded in 2008 that
offers diamond drilling, RC drilling and underground drilling
services. Servdrill is based in the State of Para and has extensive
experience operating throughout Brazil with clients such as OZ
Minerals, Mineracao Vale Verde, VTF Mineracao and Centaurus
Metals.
Servdrill is committed to conducting drill
programs with high levels of productivity, safety and respect for
the environment and community.
About DrillGeo Geologia e
Sondagem
DrillGeo Geologia e Sondagem Ltda. (“DrillGeo”)
is a Brazilian drilling company founded in 2005 and based in the
State of Bahia. With over 110 employees and 19 drill rigs, DrillGeo
has drilled over 1,000,000 meters for several exploration and
mining projects throughout Brazil, with clients such as Mineracao
Caraiba, Yamana Gold, Ferbasa, Lundin Mining and Equinox Gold
DrillGeo strives for maximum quality and
efficiency in its operations, valuing safety, sustainability and
respect for the environment.
ValOre, Servdrill and DrillGeo COVID-19
Protocols
ValOre together with Servdrill and DrillGeo will
continue to operate with the strictest of COVID protocols in place
to protect the health of employees, contractors, and
communities.
As part of the safety protocol, the companies
have implemented daily screening procedures, temperature
monitoring, self-assessment checklists and issued directives
regarding social distancing to ensure a safe environment for
operations. An extensive procedural guide on hygiene and conduct to
be adopted daily 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.
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 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 (click here for 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 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
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
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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