ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today announced Trado® auger assay
results from the Tróia target area (“Tróia”) at ValOre’s 100%-owned
Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project
(“Pedra Branca”) in northeastern Brazil.
“The Tróia target represents another
high-quality, near-surface zone of significant scale that is
rapidly evolving into a compelling drill target,” stated ValOre’s
VP of Exploration, Colin Smith. “Palladium and platinum
mineralization occurs within a broad zone along a 1-kilometre trend
that remains open in both directions of strike.”
Tróia Target Exploration Program
Highlights:
- Mineralization
occurs within a 50- to 100-metre-wide zone, along a
1-kilometre-long trend with compelling geochemical and geophysical
anomalies, and rock samples exceeding 23 g/t 2PGE+Au;
- The Tróia target
has been tested with 72 Trado® auger holes (results received for
53), totaling 206 metres (“m”) and 7 trenches, totaling 400 m;
- Target
ultramafic rocks (“UM”) encountered in 19 Trado® holes (62 m of the
206 m augered) and all 7 trenches, over geological trend of
approximately 1 kilometre (“km”) in strike length;
- Multiple
PGE-mineralized Trado® auger holes, including:
- 8.5 m grading
0.98 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”)
from surface, including 4.0 m grading 1.44 g/t 2PGE+Au from 4.0 m
depth
- 2.0 m grading
8.58 g/t 2PGE+Au from surface, including 1.0 m grading 15.93 g/t
2PGE+Au from surface
- 4.0 m grading
1.55 g/t 2PGE+Au from surface
- 3.8 m grading
1.64 g/t 2PGE+Au from surface;
- Sampling and
geological mapping of all 7 trenches are in progress.
Tróia 2022 Exploration
Program
ValOre conducted detailed geological mapping and
prospecting along the 1-km-long anomalous trend at Tróia, a target
located 4.5 km north-northeast Massapê (129,000 oz 2PGE+Au grading
1.21 g/t in 3.31 Mt) and 8 km north of Trapia (885,000 oz 2PGE+Au
grading 0.96 g/t in 27.8 Mt). The main Tróia zones were
subsequently followed up with 72 Trado® auger holes totaling 206 m,
with UMs encountered in 19 Trado® holes. Assays are pending for 19
of 72 holes. See Table 1 below for a summary of significant Trado®
assay results.
PGE assays previously reported from Trado® auger
drilling and rock sampling, including 23.01 g/t
2PGE+Au and 12.00 g/t 2PGE+Au (CLICK HERE for news
release dated April 25, 2022), warranted follow-up trenching along
600 m of geological trend to confirm the presence of in-situ PGE
mineralization. Seven trenches were excavated (400 m total length),
with all exposing UM and UM-derived rock continuity along strike,
with significant thickness chromitite-rich UMs in the central two
trenches (TR22TR01 and TR22TR02 – see below for detailed plan map
of the Tróia target priority area of interest, Figure 1). Trench
sampling and mapping are in progress. See Figure 2 for photographs
of the Tróia trenching program.
Table 1: Trado® Auger Drilling Highlights for
Tróia Target
Hole ID |
From (m) |
To (m) |
Length (m) |
2PGE+Au (g/t) |
2PGE+Au Interval Summary |
AD22TR02 |
0.0 |
8.5 |
8.5 |
0.98 |
8.5 m grading 0.98 g/t 2PGE+Au from
surfaceincl. 4.0 m grading 1.44 g/t 2PGE+Au from
4.0 m |
4.0 |
8.0 |
4.0 |
1.44 |
AD22TR17A |
0.0 |
3.0 |
3.0 |
0.65 |
3.0 m grading 0.65 g/t 2PGE+Au from surface |
AD22TR23 |
0.0 |
2.0 |
2.0 |
8.58 |
2.0 m grading 8.58 g/t 2PGE+Au from
surfaceincl. 1.0 m grading 15.93 g/t 2PGE+Au from
surface |
0.0 |
1.0 |
1.0 |
15.93 |
AD22TR25A |
0.0 |
5.0 |
5.0 |
0.38 |
5.0 m grading 0.38 g/t 2PGE+Au from surface |
AD22CC02 |
0.0 |
4.0 |
4.0 |
1.55 |
4.0 m grading 1.55 g/t 2PGE+Au from surface |
AD22CC06 |
0.0 |
3.8 |
3.8 |
1.64 |
3.8 m grading 1.64 g/t 2PGE+Au from surface |
AD22CC07 |
0.0 |
2.0 |
2.0 |
0.18 |
2.0 m grading 0.18 g/t 2PGE+Au from surface |
Figure 1: Tróia target plan map with high-grade
Trado® and rock samples
highlighted.https://www.globenewswire.com/NewsRoom/AttachmentNg/bcca42c1-84f4-49a8-a3a6-b87a9d20af71
Figure 2: Photographs of trench TR22TR01 at
Tróia target (top picture, looking east), with trench wall sampling
intervals (bottom center and bottom left pictures) and a sample of
chromitite-rich ultramafic rock submitted for PGE assay (bottom
right
picture).https://www.globenewswire.com/NewsRoom/AttachmentNg/9a156913-ffd2-411c-895c-5b70ae58a898
About the
Trado® Auger and Trenching
Methodology
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.
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