(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Sept. 21, 2023 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX ‐ V: VO; OTCQB: KVLQF; Frankfurt: KEQ0,“the Company”) today reported the completion of the 2023 Phase 1 Diamond drilling Program at ValOre's 100%-owned Pedra Branca Platinum Group Elements (“PGE”,“2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“We are very pleased with the results of the first phase of ValOre's 2023 exploration program, where we drilled over 6,150 metres at 8 different zones across the Pedra Branca property . Drilling confirmed the potential to expand resource zones like Trapia 1 and discover new mineralized zones like Salvador,” stated Thiago Diniz, Exploration Manager, ValOre Metals Corp.“The team continues advancing property-wide resource zones and new targets as we await final assay results over the next 6 weeks.”
Highlights
6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones; Target ultramafic (“UM”) rocks intercepted in 42 of 49 holes (794 m of UMs); 1,625 core samples sent to lab, with assays pending for 806 samples from 16 holes: Resource expansion potential confirmed at Trapiá 1, which remains largely open along-strike and down-plunge; Near surface PGE mineralization drilled at the following zones: Galante, Tróia, Nambi, Massapê, and Salvador (see Assay Highlights table below).
Table 1: Drilling Totals by Zone
| Target | Total Drilled (m) | # Holes | # Holes w/ UMs | Total UMs (m) | Core Samples | Assays Received | Assays Pending |
| Galante | 790 | 11 | 11 | 169 | 384 | 384 | 0 |
| Tróia | 1,029 | 9 | 6 | 66 | 188 | 188 | 0 |
| Nambi | 665 | 6 | 6 | 76 | 203 | 185 | 18 |
| Ipueiras | 228 | 4 | 3 | 27 | 83 | 0 | 83 |
| Massapê | 380 | 4 | 3 | 18 | 48 | 48 | 0 |
| Cedro | 545 | 2 | 1 | 4 | 14 | 14 | 0 |
| Trapiá | 1,459 | 5 | 5 | 169 | 308 | 0 | 308 |
| Salvador | 1,056 | 8 | 7 | 265 | 397 | 0 | 397 |
| Total | 6,152 | 49 | 42 | 794 | 1,625 | 819 | 806 |
Table 2: Core Assay Highlights (g/t 2PGE+Au)
| Target | Hole ID | From (m) | To (m) | Length** (m) | 2PGE+Au (g/t) | Summary Interval |
Galante
| DD23GE01 | 56.00 | 56.63 | 0.63 | 0.99 | 0.63 m @ 0.99 g/t 2PGE+Au from 56 m |
| DD23GE02 | 10.25 | 19.30 | 9.05 | 0.35 | 9.05 m @ 0.35 g/t 2PGE+Au from 10.25 m |
DD23GE03
| 31.50 | 32.35 | 0.85 | 0.57 | 0.85 m @ 0.57 g/t 2PGE+Au from 31.50 m
and 3.02 m @ 0.15 g/t 2PGE+Au from 35 m
|
| 35.00 | 38.02 | 3.02 | 0.15 |
| DD23GE04 | 26.65 | 56.60 | 29.95 | 0.33 | 29.95 m @ 0.33 g/t 2PGE+Au from 26.65 m |
| DD23GE05 | 35.60 | 48.70 | 13.10 | 0.30 | 13.10 m @ 0.30 g/t 2PGE+Au from 35.60 m |
| DD23GE06 | 33.00 | 35.55 | 2.55 | 0.63 | 2.55 m @ 0.63 g/t 2PGE+Au from 33 m |
DD23GE07
| 15.00 | 23.60 | 8.60 | 3.18 | 8.60 m @ 3.18 g/t 2PGE+Au from 15 m
incl. 2.10 m @ 5.26 g/t 2PGE+Au from 17.90 m
|
| 17.90 | 20.00 | 2.10 | 5.26 |
| DD23GE08 | 16.70 | 31.50 | 14.80 | 0.15 | 14.8 m @ 0.15 g/t 2PGE+Au from 16.7 m |
| DD23GE09 | 24.55 | 29.65 | 5.10 | 0.49 | 5.10 m @ 0.49 g/t 2PGE+Au from 24.55 m |
DD23GE10
| 12.20 | 19.25 | 7.05 | 0.16 | 7.05 m @ 0.16 g/t 2PGE+Au from 12.2 m
incl. 1.05 m @ 0.39 g/t 2PGE+Au from 12.2 m
|
| 12.20 | 13.25 | 1.05 | 0.39 |
DD23GE11
| 10.60 | 22.70 | 12.10 | 0.25 | 12.1 m @ 0.25 g/t 2PGE+Au from 10.6 m
and 3.9 m @ 0.43 g/t 2PGE+Au from 43 m
and 4 m @ 0.22 g/t 2PGE+Au from 55 m
and 10.1 m @ 0.6 g/t 2PGE+Au from 75.3 m
|
| 43.00 | 46.90 | 3.90 | 0.43 |
| 55.00 | 59.00 | 4.00 | 0.22 |
| 75.30 | 85.40 | 10.10 | 0.60 |
Tróia
| DD23TR05 | 22.25 | 26.83 | 4.58 | 0.75 | 4.58 m @ 0.75 g/t 2PGE+Au from 22.25 m |
| DD23TR06 | 23.10 | 42.90 | 19.80 | 0.71 | 19.8 m @ 0.71 g/t 2PGE+Au from 23.1 m |
DD23TR07
| 31.15 | 47.50 | 16.35 | 1.03 | 16.35 m @ 1.03 g/t 2PGE+Au from 31.15 m
incl. 2.6 m @ 4.03 g/t 2PGE+Au from 43.25 m
|
| 43.25 | 45.85 | 2.60 | 4.03 |
| DD23TR08 | 22.45 | 32.95 | 10.50 | 0.57 | 10.5 m @ 0.57 g/t 2PGE+Au from 22.45 m |
DD23TR09
| 52.42 | 59.43 | 7.01 | 1.09 | 7.01 m @ 1.09 g/t 2PGE+Au from 52.42 m
incl. 3 m @ 1.61 g/t 2PGE+Au from 53.1 m
|
| 53.10 | 56.10 | 3.00 | 1.61 |
| DD23TR11 | 62.00 | 62.80 | 0.80 | 0.17 | 0.8 m @ 0.17 g/t 2PGE+Au from 62 m |
Nambi
| DD23NB02 | 48.64 | 50.33 | 1.69 | 0.56 | 1.69 m @ 0.56 g/t 2PGE+Au from 48.64 m |
| DD23NB03 | 40.00 | 42.05 | 2.05 | 0.22 | 2.05 m @ 0.22 g/t 2PGE+Au from 40 m |
DD23NB04
| 32.94 | 56.57 | 23.63 | 1.56 | 23.63 m @ 1.56 g/t 2PGE+Au from 32.94 m
incl. 7.9 m @ 2.80 g/t 2PGE+Au from 42 m
|
| 34.10 | 42.00 | 7.90 | 2.80 |
| DD23NB05* | 238.44 | 243.60 | 5.16 | 0.23 | 5.16 m grading 0.23 g/t 2PGE+Au from 238.44 m |
| DD23NB06* | 62.00 | 66.50 | 4.50 | 0.48 | 4.5 m grading 0.48 g/t 2PGE+Au from 62 m |
| DD23NB07* | 22.80 | 24.65 | 1.85 | 0.43 | 1.85 m grading 0.43 g/t 2PGE+Au from 22.8 m |
Massapê
| DD23MS18* | 102.95 | 103.45 | 0.50 | 0.20 | 0.5 m grading 0.20 g/t 2PGE+Au from 102.95 m |
DD23MS19*
| 26.00 | 33.90 | 7.90 | 0.27 | 7.9 m grading 0.27 g/t 2PGE+Au from 26 m
and 2 m grading 2.50 g/t 2PGE+Au from 56 m
|
| 56.00 | 58.00 | 2.00 | 2.50 |
*New assay results in today's release.
**Reported core assay interval lengths are estimated to represent 90-100% of true width.
Figure 1: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones.
Figure 2: Salvador target 3D perspective view (looking NW). Total of 8 holes completed along a 400-metre priority trend, with 7 of 8 holes intercepting a thick package (average ~40-metre zone) of target ultramafic rocks (core assays pending). Salvador remains open in all directions.
Figure 3: Trapiá 1 Deposit long section (looking NE). Resource expansion potential demonstrated from the 2023 core drilling, compared with the 2019 and 2022 resource optimized open pits. An additional 300 metres of chromite-bearing UMs was intercepted along dip (core assays pending).
Figure 4: Massapê Deposit long section (looking W). DD23MS19 intercepted PGE mineralization 350 m outside of the 2022 resource, confirming resource expansion potential.
Quality Assurance/Quality Control (“QA/QC”)
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 Thiago Diniz, P.Geo., ValOre's QP and Exploration Manager.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX ‐ V: VO) is a Canadian company with a team aiming 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 and innovation.
ValOre's Pedra Branca Platinum Group Elements 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). ValOre's team believes the Pedra Branca project has significant exploration discovery and resource expansion potential.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
MENAFN21092023004107003653ID1107112871
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.