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ValOre Drills 21 m at 1.67 g/t 2PGE+Au from 27 m at Massapê and 22 m at 1.40 g/t 2PGE+Au from 13 m at Santo Amaro South, Pedra Branca

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ValOre Drills 21 m at 1.67 g/t 2PGE+Au from 27 m at Massapê and 22 m at 1.40 g/t 2PGE+Au from 13 m at Santo Amaro South, Pedra Branca

 

 

 

 

 

ValOre Metals Corp. (TSX‐V: VO) (OTC: KVLQF) (Frankfurt: KEQ0) reports core drilling assay results from the Massapê and Santo Amaro South targets at ValOre’s 100%-owned Pedra Branca Platinum Group Elements Project in northeastern Brazil.

 

“ValOre’s proven exploration methodology has led to exciting near-surface 2021 drilling results at both Massapê and Santo Amaro South,” stated ValOre’s VP of Exploration, Colin Smith. “Both targets will be considered in the resource update planned for Q1 2022 and remain wide open for expansion with further drilling.”

 

Massapê Zone 2021 Drilling Highlights:

 

  • 11 core holes drilled totaling 1,510 metres), with all 11 intercepting the target PGE-bearing ultramafic intrusion;
  • PGE intervals returned in 10 of 11 core holes, with highlights including:
    • 21 m at 1.82 grams per tonne palladium + platinum + gold from 73 metres, incl. 9.1 m at 3.0 g/t 2PGE+Au from 84 m in drill hole DD21MS09
    • 21 m at 1.67 g/t 2PGE+Au from 27 m, incl. 6.6 m at 3.22 g/t 2PGE+Au from 29 m in drill hole DD21MS13
    • 23 m at 1.19 g/t 2PGE+Au from 101 m, and 14 m at 0.99 g/t 2PGE+Au from 137 m incl. 5.4 m at 2.26 g/t 2PGE+Au from 136.6 m in drill hole DD21MS12;
  • Drill-confirmed PGE mineralization established along a 400 m trend: open along strike to the south, and at depth to the east.

 

Santo Amaro South Zone 2021 Drilling Highlights:

  • 4 holes drilled totaling 300 m, with all 4 intercepting the target PGE-bearing UM intrusion, including the following highlights:
    • 22 m at 1.40 g/t 2PGE+Au from 13 m in drill hole DD21SAS05
    • 18 m at 1.46 g/t 2PGE+Au from 51 m, incl. 9.8 m at 2.42 g/t 2PGE+Au from 58 m in drill hole DD21SAS04
    • 13 m at 1.29 g/t 2PGE+Au from 69 m in drill hole DD21SAS07;
  • Drill-confirmed PGE mineralization established along a 200 m trend that is open in all directions.

 

*Reported core assay interval lengths are estimated to represent 90-100% of true width

 

The Massapê Zone is situated four kilometres along trend to the north of the Trapia deposit area (218,000 oz at 1.11 g/t 2PGE+Au in 6.1 Mt), and the Santo Amaro South target is situated 1 km due south of the Santo Amaro deposit area (203,000 oz at 1.19 g/t 2PGE+Au in 5.3 Mt). Both Massapê and Santo Amaro South are underexplored and highly prospective PGE-bearing zones that were not included in ValOre’s 2019 NI 43-101 Pedra Branca inferred resource (1,067,000 oz at 1.22 g/t 2PGE in 27.2 Mt). Please refer to the Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.

 

2021 Massapê Zone Drilling

 

During 2021, the Massapê target was rapidly advanced to a high priority drill target by ValOre’s sequential exploration methodology, which included detailed geological mapping, Trado® auger drilling, and trenching (CLICK HERE for news release dated August 26, 2021).

 

Drilling in 2021 intercepted the target UM intrusion in all 11 core holes over 450 m of geological trend. PGE-bearing Trado® auger hole samples have been collected along strike to the north and south of 2021 core drilling, establishing a prospective strike length of ~1 km to be further tested in 2022. See Table 1 for a summary of significant core assay results, and Figures 1-3 below.

 

2021 Santo Amaro South Zone Drilling

 

ValOre’s exploration methodology quickly established the Santo Amaro South Zone as a high-quality drill target in 2021 (CLICK HERE for news release dated March 23, 2021). This lead to a Reverse Circulation drilling discovery of 32 m at 1.65 g/t 2PGE+Au from surface in drill hole RC21SAS03 (CLICK HERE for news release dated August 23, 2021), and the drilling of 4 follow-up core holes, all of which intercepted the shallow PGE-bearing UM intrusion. PGE mineralization remains open in all directions, and is to be further tested in 2022. See Table 1 for a summary of significant core assay results, and Figure 4 below.

 

 

Table 1: Significant Core 2PGE+Au Assays from 2021 Massapê and Santo Amaro Drilling

 

Target Hole ID From (m) To
(m)
Length
(m)
Au
(g/t)
Pd
(g/t)
Pt
(g/t)
2PGE+Au
(g/t)
Summary Interval Zone
Gram x metre
Total
Gram x metre
Massapê DD21MS06 28.95 33 4.05 0.02 1.21 0.51 1.73 4.0 m at 1.73 g/t 2PGE+Au from 29 m
incl. 2.0 m at 3.10 g/t 2PGE+Au from 29
and 20 m at 0.44 g/t 2PGE+Au from 59 m
7 16
28.95 31 2.05 0.02 2.11 0.96 3.10
58.65 78.75 20.1 0.03 0.28 0.12 0.44 9
Massapê DD21MS07 14 28 14 0.01 0.09 0.04 0.13 14 m at 0.13 g/t 2PGE+Au from 14 m
incl. 6.0 m at 0.21 g/t 2PGE+Au from 22 m
2 2
22 28 6 0.01 0.13 0.07 0.21
Massapê DD21MS08 53.65 60 6.35 0.02 0.26 0.13 0.41 6.4 m at 0.41 g/t 2PGE+Au from 54 m 3 3
Massapê DD21MS09 66.80 93.1 26.3 0.03 1.10 0.31 1.45 26 m at 1.45 g/t 2PGE+Au from 67 m
incl. 9.1 m at 3.05 g/t 2PGE+Au from 84 m
38 38
84 93.1 9.1 0.05 2.38 0.62 3.05
Massapê DD21MS10 20.2 21 0.8 0.01 0.38 0.19 0.58 0.8 m at 0.58 g/t 2PGE+Au from 20 m 1 1
Massapê DD21MS11 85 108.65 23.65 0.01 0.15 0.09 0.25 24 m at 0.25 g/t 2PGE+Au from 85 m
incl. 2.0 m at 0.41 g/t 2PGE+Au from 89 m
and 5.7 m at 0.61 g/t 2PGE+Au from 103 m
6 6
89 91 2 0.01 0.21 0.20 0.41
103 108.65 5.65 0.01 0.41 0.19 0.61
Massapê DD21MS12 101 124 23 0.03 0.63 0.52 1.19 23 m at 1.19 g/t 2PGE+Au from 101 m
incl. 2.3 m at 3.18 g/t 2PGE+Au from 115 m
and 14 m at 0.99 g/t 2PGE+Au from 137 m
incl. 5.4 m at 2.26 g/t 2PGE+Au from 137 m
28 42
114.75 117 2.25 0.06 2.19 0.93 3.18
136.6 151.02 14.42 0.01 0.77 0.21 0.99 14
136.6 142 5.4 0.02 1.80 0.45 2.26
Massapê DD21MS13 26.95 47.65 20.70 0.02 1.27 0.37 1.67 21 m at 1.67 g/t 2PGE+Au from 27 m
incl. 6.6 m at 3.22 g/t 2PGE+Au from 29 m
35 35
28.55 35.15 6.60 0.04 2.20 0.60 2.84
Massapê DD21MS14 140 164.4 24.4 0.01 0.24 0.12 0.38 24 m at 0.38 g/t 2PGE+Au from 140 m
and 13 m at 3.41 g/t 2PGE+Au from 191 m
incl. 2.5 m at 10.05 g/t 2PGE+Au from 197 m
9 53
191 203.7 12.7 0.02 2.84 0.55 3.41 44
197.46 200 2.54 0.04 8.93 1.07 10.05
Massapê DD21MS16 130.95 148 17.05 0.01 0.19 0.06 0.26 17 m at 0.26 g/t 2PGE+Au from 131 m 4 4
Santo Amaro South DD21SAS04 51 69.2 18.2 0.02 0.81 0.63 1.46 18 m at 1.46 g/t 2PGE+Au from 51 m
incl. 9.8 m at 2.42 g/t 2PGE+Au from 58 m
incl. 3.6 m at 4.22 g/t 2PGE+Au from 64 m
27 27
57.75 67.55 9.8 0.03 1.30 1.09 2.42
64 67.55 3.55 0.06 2.16 1.99 4.22
Santo Amaro South DD21SAS05 12.6 34.15 21.55 0.01 0.88 0.52 1.40 22 m at 1.40 g/t 2PGE+Au from 13 m 30 30
Santo Amaro South DD21SAS06 17.95 23.7 5.75 0.01 0.28 0.13 0.42 5.8 m at 0.42 g/t 2PGE+Au from 18 m
incl. 2.1 m at 0.85 g/t 2PGE+Au from 22 m
2 2
21.65 23.7 2.05 0.01 0.60 0.23 0.85
Santo Amaro South DD21SAS07 68.7 81.52 12.82 0.02 0.82 0.46 1.29 13 m at 1.29 g/t 2PGE+Au from 68.7 m
incl. 9.8 m at 1.47 g/t 2PGE+Au from 71 m
incl. 3.4 m at 2.13 g/t 2PGE+Au from 77 m
17 17
71.2 80.97 9.77 0.02 0.94 0.52 1.47
77 80.35 3.35 0.03 1.19 0.92 2.13

*Reported core assay interval lengths are estimated to represent 90-100% true width

 

Figure 1: Plan Map of at Massapê Target

 

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/ae9ec232-f211-4a65-90b6-41e0c2093b7b

 

Figure 2: Cross Section A-A’, Massapê Target

 

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/2a1d3f50-46a9-4076-b802-2119a6aca196

 

Figure 3: Cross Section B-B’, Massapê Target

 

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/4bcf51d7-ddb2-4a6f-b2ab-9e0ff39a290f

 

Figure 4: Plan Map of Santo Amaro South Target and Santo Amaro Deposit

 

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/b9f03b78-0ef6-4bda-a8c2-c77ae08e386e

 

Quality Assurance/Quality Control 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

 

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.

 

Disclosure Related to Finders Fees Paid on Offering

 

The Company also announced that further to its press release dated November 17, 2021 regarding the closing of the previously announced “best efforts” brokered private placement for gross proceeds of C$11,000,000, in addition to the fees paid to Red Cloud Securities Inc. as agent, the Company paid an aggregate of $83,420 and issued an aggregate of 139,033 non-transferable finder’s warrants to certain arm’s-length finders in connection with their entitlement to receive 6% cash commission and 6% Finder’s Warrants for subscribers introduced by such finders. Each Finder’s Warrant entitles the holder to acquire one common share of the Company at a price of C$0.60 at any time on or before November 17, 2023.

 

About ValOre Metals Corp.

 

ValOre Metals Corp. 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.

 

Posted December 20, 2021

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