ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today provided an update on
metallurgy at ValOre’s 100%-owned Pedra Branca Platinum Group
Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in
northeastern Brazil.
“We are very encouraged by confirmatory drill
core assay results from the Esbarro and Curiu PGE deposits, which
returned impressive, high-grade palladium-platinum through broad
intercepts from surface,” stated ValOre’s VP of Exploration, Colin
Smith. “In addition, we welcome metallurgist Chris Kaye to the
ValOre team, whose extensive experience will help accelerate the
advancement of the Pedra Branca Project.”
Key Updates on Metallurgical Drilling,
Testwork and Personnel:
- Ten HQ-size core drill holes totaling 591 metres (“m”) at the
Curiu and Esbarro PGE deposit areas were completed, logged, sampled
and assayed prior to planned metallurgical testwork;
- All 10 drill holes confirmed the historically reported geology
and returned high-grade, shallow PGE-mineralized intercepts
including:
- 77 m at 2.95 g/t 2PGE+Au from surface, incl.
45 m at 4.76 g/t 2PGE+Au, 0.1 g/t Rh from 16 m, and 6.4 m
at 16.92 g/t 2PGE+Au and 0.52 g/t Rh from 30 m in drill
hole DD21ES15C
- 49 m at 2.03 g/t 2PGE+Au from 19 m, incl. 4.6
m at 11.94 g/t 2PGE+Au, 0.25 g/t Rh from 23.68 m in Drill hole
DD21CU12A
- 77 m at 1.01 g/t 2PGE+Au from surface in drill
hole DD21PBE30A
- 47 m at 1.51 g/t 2PGE+Au from surface in drill
hole DD21CU12A;
- Highly experienced metallurgist, Chris Kaye, has been engaged
to oversee the current and future testwork campaigns;
- Metallurgical testwork program at ALS Metallurgy Kamloops
(“ALS”) expected to commence mid-October, with a primary focus on
mineralogy and conventional processing circuits;
- Composite samples have been selected and shipped.
*Reported core assay interval lengths are
estimated to represent 95-100% true width
2021 Metallurgical Drill
Program
Ten HQ-size core drill holes (totaling 591 m)
were completed to provide PGE mineralized material for planned
metallurgical testwork. Six holes (378 m) were drilled into the
Esbarro deposit (394,000 ounces 2PGE+Au contained in an inferred
resource of 9.9 million tonnes (“Mt”) grading 1.23 g/t 2PGE+Au),
and four holes (213 m) were drilled into the Curiu deposit (1.6 Mt
grading 1.93 g/t 2PGE+Au, containing 100,000 ounces).
All drill holes confirmed the historically
reported mineralized ultramafic (“UM”) intrusion and returned
broad, shallow, high-grade 2PGE+Au intercepts. See Table 1 below
for a complete table of drill core assays and CLICK HERE for a map
of the metallurgical drill hole locations at Esbarro and Curiu
(Figure 1).
Table 1: Drill Core 2PGE+Au Assays from
the 2021 Metallurgical Drill Program
Deposit |
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Pd (g/t) |
Pt (g/t) |
2PGE+Au (g/t) |
Summary Interval |
Esbarro |
DD21ES15C |
0.00 |
77.00 |
77.00 |
0.04 |
2.06 |
0.85 |
2.95 |
77 m at 2.95 g/t 2PGE+Au from surfaceincl.
45 m at 4.76 g/t 2PGE+Au, 0.1 g/t Rh from 16 mand
6.4 m at 16.92 g/t 2PGE+Au 0.52 g/t Rh from 30 m |
16.00 |
61.00 |
45.00 |
0.04 |
3.33 |
1.38 |
4.76 |
29.65 |
36.00 |
6.35 |
0.10 |
11.66 |
5.17 |
16.92 |
Esbarro |
DD21PBE30A |
0.00 |
77.00 |
77.00 |
0.05 |
0.64 |
0.32 |
1.01 |
77 m at 1.01 g/t 2PGE+Au from surfaceincl. 13 m at
2.71 g/t 2PGE+Au from 36 mand 2.7 m at 7.82 g/t 2PGE+Au, 0.18 g/t
Rh from 37 m |
36.03 |
49.00 |
12.97 |
0.02 |
1.79 |
0.91 |
2.71 |
36.69 |
39.36 |
2.67 |
0.04 |
5.19 |
2.58 |
7.82 |
Esbarro |
DD21RW005A |
0 |
56.12 |
56.12 |
0.01 |
0.73 |
0.39 |
1.13 |
56 m at 1.13 g/t 2PGE+Au from surfaceincl. 17 m at
2.38 g/t 2PGE+Au from 17 mand 1.3 m at 12.96 g/t 2PGE+Au from 17
m |
16.77 |
33.64 |
16.87 |
0.02 |
1.61 |
0.75 |
2.38 |
16.77 |
18.08 |
1.31 |
0.03 |
9.41 |
3.52 |
12.96 |
Esbarro |
DD21PBE17A |
0.00 |
31.34 |
31.34 |
0.01 |
1.48 |
0.45 |
1.95 |
31 m at 1.95 g/t 2PGE+Au from surface incl. 18 m
at 3.14 g/t 2PGE+Au from surface |
0.00 |
17.81 |
17.81 |
0.01 |
2.45 |
0.68 |
3.14 |
Esbarro |
DD21ES13A |
0.00 |
32.33 |
32.33 |
0.04 |
0.78 |
0.27 |
1.10 |
32 m at 1.10 g/t 2PGE+Au from surface incl. 21 m
at 1.47 g/t 2PGE+Au from surface and 6.0 m at 2.80 g/t 2PGE+Au from
surface |
0.00 |
21.00 |
21.00 |
0.06 |
1.10 |
0.31 |
1.47 |
0.00 |
6.00 |
6.00 |
0.12 |
2.15 |
0.54 |
2.80 |
Esbarro |
DD21PBE35A |
9.54 |
42.00 |
32.46 |
0.01 |
0.62 |
0.39 |
1.03 |
32 m at 1.03 g/t 2PGE+Au from 9.5 m incl. 16 m at
1.67 g/t 2PGE+Au from 15 m |
15.00 |
31.00 |
16.00 |
0.01 |
1.02 |
0.64 |
1.67 |
Curiu |
DD21CU12A |
18.97 |
68.18 |
49.21 |
0.06 |
1.25 |
0.72 |
2.03 |
49 m at 2.03 g/t 2PGE+Au from 19 mincl.
4.6 m at 11.94 g/t 2PGE+Au, 0.25 g/t Rh from 24 m |
23.68 |
28.25 |
4.57 |
0.12 |
7.77 |
4.06 |
11.94 |
Curiu |
DD21CU26A |
0.00 |
17.80 |
17.80 |
0.14 |
2.46 |
1.70 |
4.30 |
18 m at 4.30 g/t 2PGE+Au from surface |
Curiu |
DD21CU22A |
0.00 |
47.00 |
47.00 |
0.06 |
0.86 |
0.59 |
1.51 |
47 m at 1.51 g/t 2PGE+Au from surfaceincl. 8.0 m
at 4.47 g/t 2PGE+Au from surfaceand 2.5 m at 3.89 g/t 2PGE+Au from
28 m |
0.00 |
8.00 |
8.00 |
0.16 |
2.31 |
2.00 |
4.47 |
27.80 |
30.30 |
2.50 |
0.10 |
2.73 |
1.06 |
3.89 |
Curiu |
DD21CU15A |
0.00 |
37.00 |
37.00 |
0.05 |
1.00 |
0.65 |
1.70 |
37 m at 1.70 g/t 2PGE+Au from surfaceincl. 5.9 m
at 5.30 g/t 2PGE+Au from 1.0 m |
1.00 |
6.85 |
5.85 |
0.12 |
2.79 |
2.40 |
5.30 |
*Reported core assay interval lengths are
estimated to represent 95-100% true width
ALS Metallurgy Testwork
Program
The ALS testwork program will comprise a
detailed mineralogical assessment and conventional flotation tests
on a composite sample of ¼ HQ drill core from the Curiu deposit. A
Particle Size Analysis (“PSA”) study will be performed prior to the
mineralogical assessment, and subsequent rougher floatation, Davis
Tube and magnetic separation rougher tests will be completed.
Assays will be taken on the heads, fractions, and final test
products to assess metallurgical recoveries.
Historical metallurgical testing of material
from the Pedra Branca project has involved assessing a range of
different processing alternatives, including conventional treatment
such as grinding, and flotation as it relates to alterations and
material types. This testwork has produced a valuable insight into
the metallurgical response of the different material types
associated with the project; particularly with respect to the Curiu
material. The ALS metallurgical testwork program is designed to
leverage from this historical testing and incorporate mineralogical
assessment of rock types while evaluating modifications to the
processing route and optimizing the treatment criterion developed
to date.
About ALS Metallurgy
Kamloops
ALS has established a reputation as a leader in
process development, circuit optimization and mineralogical
analysis. As the global leader in metallurgical testing and
consulting services for mineral process flowsheet development and
optimization, ALS offers mineral processing testing by both bench
scale and pilot scale facilities, hydrometallurgical and
mineralogical test services, and project management by expert
metallurgists.
CLICK HERE for more information regarding ALS
Metallurgy Kamloops.
Chris Kaye, Metallurgist
ValOre will draw on the experience of
metallurgist, Chris Kaye (President & Principal Process
Engineer of Mine and Quarry Engineering Services Inc., “MQes”), to
oversee current and future metallurgical testwork programs for
Pedra Branca. Chris has over 35 years’ experience in mining and
mineral processing, working with operating mines, engineering
companies and consulting companies. He has expertise in PGEs, Gold,
Silver, Copper, Nickel, Lead, Zinc and Aluminum projects in
Australia, Finland, Canada, Zambia, Argentina, Chile, Mexico and
the USA, with extensive experience in project development, managing
plants, and developing “green-field” projects.
CLICK HERE for more information regarding
MQes.
Quality Control/Quality Assurance
(“QA/QC”) and Grade Interval Reporting
CLICK HERE for a summary of ValOre’s policies
and procedures related to QA/QC and grade interval reporting.
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 51
exploration licenses covering a total area of 55,984 hectares
(138,339 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
www.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:
http://www.discoverygroup.ca/
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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
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statements made by third parties in respect of ValOre, or its
financial or operating results or (as applicable), their
securities.
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