ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced initial trench
channel sample assay results from the Ipueiras target area
(“Ipueiras”) at ValOre’s 100%-owned Pedra Branca Platinum Group
Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in
northeastern Brazil. Ipueiras is located 10 kilometres (“km”) south
of the Trapia deposit area, (885,000 oz 2PGE+Au grading 0.96 g/t in
28.8 Mt). ValOre has tested the target with 35 Trado® auger holes
and 4 trenches to date in 2022, following a detailed geological
mapping and prospecting program.
“The Trado® auger continues to guide ValOre
geologists to significant discoveries property-wide, as
demonstrated by the broad, high grade trench intervals from
Ipueiras,” stated ValOre’s VP of Exploration, Colin Smith.
“Excellent exploration upside remains with several >40 g/t
2PGE+Au rock samples occurring to the southwest of the trenched
zone along a strong and consistent magnetic anomaly, defining a
2-kilometre-long undrilled mineralized trend.”
Ipueiras Trenching
Highlights:
- Two of four
trenches returned significant intervals of PGE mineralization,
including:
- 64
metres (“m”) grading 2.68 grams per tonne palladium + platinum +
gold (“g/t 2PGE+Au”), including 25 m grading 4.65
g/t 2PGE+Au in trench TR22IP01;
- 38 m
grading 2.14 g/t 2PGE+Au, including 15 m grading
4.45 g/t 2PGE+Au in trench TR22IP02;
- Detailed
follow-up mapping, Trado® and trenching has commenced to further
delineate this broad, high-grade, shallow ultramafic (“UM”)
intrusion.
Ipueiras 2022
Trado® Auger Drilling and
Trenching Program
ValOre conducted detailed geological mapping and
prospecting throughout the 2-km-long anomalous trend at Ipueiras,
and followed up with 35 Trado® auger holes (105 m), with reported
PGE mineralization in 11 of 35 holes. CLICK HERE for news release
dated March 31, 2022 and see Figure 1 below for a plan map of
Ipueiras. Highlights of historic and ValOre high-grade rock samples
collected throughout the area include grades over 40 g/t 2PGE+Au at
the Southwest and Northeast Zones.
Figure 1: Ipueiras target ground mag
anomaly extending for approximately 2 km along strike from
southwest to northeast. High-grade rock and
Trado® auger assays highlighted
in the two main Zones (Southwest and Northeast Zones) is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5eaba23-39df-40a0-8a44-0d228a91624e
Five shallow pre-ValOre diamond drill holes
tested a portion of the northeast zone of Ipueiras, with PGE
mineralization reported in 2 holes. Revised interpretations, based
on new data from ValOre’s ongoing exploration program, demonstrate
excellent potential for mineralization continuity at depth and
along strike.
PGE-mineralized Trado® auger results defined an
area of focus within the Northeast Zone for priority follow up
work, and was subsequently tested for in-situ PGE mineralization by
excavation of 4 trenches totaling 189 m, covering a strike length
of approximately 200 m. All 4 trenches confirmed UM and UM-derived
rocks continuity along strike, with PGE mineralization reported in
3 of 4 trenches. Assays remain pending for trench TR22IP04.
Assay highlights include multiple high-grade PGE
results from the two northernmost trenches associated with thick
chromitites and chromitite-rich UMs, including:
-
TR22IP01: 64 m grading 2.68 g/t 2PGE+Au, including 25 m
grading 4.65 g/t 2PGE+Au;
-
TR22IP02: 38 m grading 2.14 g/t 2PGE+Au, including 15 m
grading 4.45 g/t 2PGE+Au;
- TR22IP03*: 2.0 m
grading 0.37 g/t 2PGE+Au (* assays pending for final 5.0 m).
See Figure 2 below for a plan map with trench
locations at the Northeaster Zone at Ipueiras; Figure 3 for
pictures of the Ipueiras trenches, with detailed photographs
highlighting chromitite occurring in the area; and Figures 4A and
4B for detailed trench cross sections. Reported trench assay
interval lengths are channel samples and estimated to represent
70-80% true width.
High-grade PGE assays from historical and ValOre
samples, in addition to Trado® auger holes drilled by ValOre at the
Southwest Zone of the Ipueiras trend are interpreted to be
correlative with the high-grade UMs and chromitite reefs exposed in
trenches TR22IP01 and TR22IP02, extending known PGE mineralization
and exploration upside for an additional 2 km to the southwest of
the existing historical core drilling and trench area.
Detailed follow-up mapping, Trado® and trenching
has commenced to further delineate this broad anomalous trend.
Figure 2: Trench location at the
Northeast Zone of Ipueiras. Highlights for high grade rock samples
and Trado® auger
drilling is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9556ec4f-708b-4a7e-bac0-b9c6e3b68c14
Figure 3: A. Overview of trench
TR22IP01, totaling 71 m from northwest to southeast. B. Chromitite
boulders marking an outcropping area of approximately 100 m along
trend by 30 m wide crosscut by, and outcrop within, trenches
TR22IP01 and TR22IP02. C. Detailed photograph of the high PGE grade
chromitites is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b9d01966-1bfa-4e33-b45b-33b93863e0a9
Figure 4A: Cross section highlighting
assays channel results for Trench TR22IP01 and coincident
Trado® auger
holes is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/13a28e14-03ce-4b01-9d3b-da9a8ee8e2d3
Figure 4B: Cross section highlighting
assays channel results for Trench TR22IP01 and coincident
Trado® auger
holes is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/32ab3634-8c60-4464-aaac-f227b2941515
About the
Trado® Auger
CLICK HERE for more information regarding Trado®
Auger and Trenching methodology
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 52
exploration licenses covering a total area of 56,852 hectares
(140,484 acres) in northeastern Brazil. At Pedra Branca, 7 distinct
PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred
resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t
2PGE+Au (CLICK HERE for news release dated March 24, 2022). 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/
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