ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced assay results for 1
channel sample and 19 Trado® auger holes collected from the Esbarro
NW target area at ValOre’s 100%-owned Pedra Branca Platinum Group
Elements (“PGE”) Project in northeastern Brazil.
“Our exploration field work at Pedra Branca
continues to generate excellent results, this time with the
identification of near surface PGE mineralization at Esbarro NW,
which is located within 200 metres of the Esbarro deposit,” stated
ValOre’s Vice President Exploration, Colin Smith. “We will drill
the Esbarro NW target in May as part of the ongoing reverse
circulation drill campaign at Pedra Branca.”
Esbarro NW Channel Sample and Trado®
Auger Drilling Highlights:
- Vertical channel sample from historical workings 200 metres
(“m”) outside the pit-constrained resource area returned
significant intervals of PGE mineralization, including:
- 6.5 m grading 2.17 grams per tonne palladium + platinum + gold
(“g/t 2PGE+Au”) from surface, incl. 2.0 m grading 5.19 g/t 2PGE+Au
from 4.50 m
- Highest-grade result of 7.44 g/t 2PGE+Au coming from the bottom
of pit
- PGE mineralization open at depth and along strike in all
directions;
- Trado® auger drilling returned near surface PGE assay results
in 17 of 19 holes, with assay highlights including:
- 12.0 m grading 1.73 g/t 2PGE+Au from surface, incl. 2.0 m
grading 2.90 g/t from surface and 2.0 m grading 3.36 g/t from 8.0
m
- 9.0 m grading 2.09 g/t 2PGE+Au from surface;
- Esbarro NW target is drill-ready, with 10 reverse circulation
(“RC”) holes planned totaling approximately 200 m with drilling
anticipated to commence in May;
- Esbarro deposit and Esbarro NW target area are adjacent to and
bisected by well-established roadways and electrical power
lines;
- Trado®, channel and soil sampling PGE results further validate
auger drilling as an effective exploration technique to accelerate
the target pipeline at Pedra Branca;
- CLICK HERE for ValOre’s video explaining the Trado® auger from
April 9, 2021.
Esbarro NW 2021 Exploration: Soil,
Trado® and Channel
Sampling
2021 soil sampling from the Esbarro NW target
area delineated a 600 m-long PGE-in-soils anomaly extending to the
northwest from the Esbarro pit-constrained resource area (9.9 Mt
grading 1.23 g/t 2PGE+Au, totaling 394,000 ounces). During this
sampling campaign, a 6.5 m-deep historical test pit was encountered
approximately 200 m north of the western-most resource area. The
test pit was previously not known to ValOre’s team, as it was not
catalogued in the historical Pedra Branca database.
A vertical channel sample was performed from
surface to the bottom of pit (6.5 m depth), with altered ultramafic
rocks intercepted throughout. Assay results for the channel sample
returned a high-grade PGE interval from surface of 6.5 m grading
2.17 g/t 2PGE+Au, including 2.0 m grading 5.19 g/t 2PGE+Au from
4.50 m. The highest-grade sample (7.44 g/t 2PGE+Au) was collected
from the pit bottom, and thus the high-grade in-situ PGE
mineralization remains fully open at depth and along strike in all
directions.
A 19-hole Trado® auger follow-up program was
conducted within the 600 m PGE-in-soils anomaly extending from the
Esbarro resource area. 17 of 19 Trado® auger holes intercepted
PGE-bearing ultramafic or ultramafic-derived rocks, suggesting
near-surface geological continuity of the mineralized host
intrusion. Assay highlights include Trado® holes AD21ES03, which
returned 12.0 m grading 1.73 g/t 2PGE+Au from surface, incl. 2.0 m
grading 2.90 g/t from surface and 2.0 m grading 3.36 g/t from 8.0
m, and Trado® hole AD21ES08 which returned 9.0 m grading 2.09 g/t
2PGE+Au from surface.
See Table 1 below for a summary of significant
channel sample and Trado® PGE assay intervals, CLICK
HERE for Figure 1, showing a map of the Esbarro NW target,
CLICK HERE for Figure 2, showing a map of the
results reported herein, and CLICK HERE for Figure
3 showing a fence diagram of the high-grade channel sample and
proximal Trado® auger holes.
Table 1: Esbarro NW
Trado® and Channel Sample Assay
Highlights
Sample Type |
SampleID |
From (m) |
To (m) |
Length (m) |
2PGE+Au (g/t) |
2PGE+Au Interval Summary |
Channel |
PT21ES01 |
0.0 |
6.5 |
6.5 |
2.17 |
6.5 m grading 2.17 g/t 2PGE+Au from surface |
Channel |
PT21ES01 |
4.5 |
6.5 |
2.0 |
5.16 |
2.0 m grading 5.16 g/t 2PGE+Au from 4.50 m |
Trado® |
AD21ES02 |
0.0 |
5.0 |
5.0 |
0.63 |
5.0 m grading 0.63 g/t 2PGE+Au from surface |
Trado® |
AD21ES03 |
0.0 |
12.0 |
12.0 |
1.73 |
12.0 m grading 1.73 g/t 2PGE+Au from surface |
Trado® |
AD21ES03 |
0.0 |
2.0 |
2.0 |
2.90 |
2.0 m grading 2.90 g/t 2PGE+Au from surface |
Trado® |
AD21ES03 |
8.0 |
10.0 |
2.0 |
3.36 |
2.0 m grading 3.36 g/t 2PGE+Au from 8 m |
Trado® |
AD21ES04 |
0.0 |
2.0 |
2.0 |
0.33 |
1.95 m grading 0.33 g/t 2PGE+Au from surface |
Trado® |
AD21ES04A |
0.0 |
4.0 |
4.0 |
1.12 |
4.0 m grading 1.12 g/t 2PGE+Au from surface |
Trado® |
AD21ES05 |
0.0 |
1.6 |
1.6 |
0.30 |
1.6 m grading 0.30 g/t 2PGE+Au from surface |
Trado® |
AD21ES06 |
0.0 |
2.7 |
2.7 |
0.23 |
2.7 m grading 0.23 g/t 2PGE+Au from surface |
Trado® |
AD21ES07 |
0.0 |
2.0 |
2.0 |
0.54 |
1.95 m grading 0.54 g/t 2PGE+Au from surface |
Trado® |
AD21ES08 |
0.0 |
9.0 |
9.0 |
2.09 |
9.0 m grading 2.09 g/t 2PGE+Au from surface |
Trado® |
AD21ES09 |
0.0 |
2.0 |
2.0 |
0.42 |
2.0 m grading 0.42 g/t 2PGE+Au from surface |
Trado® |
AD21ES10 |
0.0 |
2.0 |
2.0 |
0.35 |
2.0 m grading 0.35 g/t 2PGE+Au from surface |
Trado® |
AD21ES11 |
0.0 |
2.0 |
2.0 |
0.45 |
1.95 m grading 0.45 g/t 2PGE+Au from surface |
Trado® |
AD21ES12 |
0.0 |
1.0 |
1.0 |
0.78 |
1.0 m grading 0.78 g/t 2PGE+Au from surface |
Trado® |
AD21ES14 |
1.0 |
2.0 |
1.0 |
0.27 |
1.0 m grading 0.27 g/t 2PGE+Au from 1 m |
Trado® |
AD21ES17 |
0.0 |
4.0 |
4.0 |
0.68 |
4.0 m grading 0.68 g/t 2PGE+Au from surface |
Trado® |
AD21ES18 |
0.0 |
1.9 |
1.9 |
0.19 |
1.85 m grading 0.19 g/t 2PGE+Au from surface |
About Trado®
Auger Drilling
Please CLICK HERE to view ValOre’s news release of March 23,
2021 for detailed information regarding Trado® auger drilling.
CLICK HERE for ValOre’s video explaining the Trado® auger drill
from April 9, 2021.
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 VP 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 (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
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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