“Drill results from DD23TU33 indicate a broad interval of high-grade mineralization intersected in a 150-metre step out hole to the south of the existing resource at Trapia 1, underscoring the resource expansion potential. Importantly, this broad intersection contains a higher-sulphide, high-grade PGE-Ni-Cu interval that may be amenable to targeting by geophysical methods,” stated
Highlights
Trapia 1
- Assay results received for the first of four holes drilled in 2023 at the Trapia 1 deposit (total 1,326 m);
- 71.8 metres (“m”) at 1.59 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) starting from 235.9 m, including 8.15 m at 10.54 g/t 2PGE+Au, 0.37% Ni and 0.11% Cu;
- High-grade palladium-platinum and nickel-copper mineralization occurs in association with a sulfide-rich peridotitic horizon at the bottom of the chromitite reef, and is characterized by up to 5% disseminated to brecciated pyrrhotite, pyrite, pentlandite and chalcopyrite (Figures 3 and 4);
- PGE mineralization intercepted 150 m outside of the existing 2022 NI 43-101 resource at Trapia 1 (480,000 oz of the total Trapia 2022 NI 43-101 resource of 885,000 oz at 0.96 g/t);
- Assays pending for the remaining Trapia 1 holes, including DD23TU35 located up-dip of DD23TU33; and DD23TU32, representing an additional 150 m step out to the south, along strike and down-plunge of DD23TU33.
2023 Drill Program
- 6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones (see ValOre news release of
September 21 , 2023); - 1,625 core samples sent to lab, with assays pending for 641 samples from 14 holes.
- Recently received assays results also include near-surface PGE mineralization drilled in the Ipueiras target, including:
- 11.85 m grading 0.55 g/t 2PGE+Au from surface, incl. 0.9 m grading 1.58 g/t 2PGE+Au from 2.65 m in drill hole DD23IP04;
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 | 190 | 384 | 384 | 0 |
Tróia | 1,029 | 9 | 6 | 72 | 188 | 188 | 0 |
Nambi | 665 | 6 | 6 | 74 | 203 | 185 | 18 |
Ipueiras | 228 | 4 | 3 | 27 | 83 | 34 | 49 |
Massapê | 380 | 4 | 3 | 19 | 48 | 48 | 0 |
Cedro | 545 | 2 | 1 | 4 | 14 | 14 | 0 |
Trapiá South | 133 | 1 | 1 | 4 | 36 | 36 | 0 |
Trapiá 1 | 1,326 | 4 | 4 | 175 | 272 | 95 | 177 |
1,056 | 8 | 7 | 265 | 397 | 0 | 397 | |
Total | 6,152 | 49 | 42 | 830 | 1,625 | 984 | 641 |
Table 2: Core Assay Highlights (g/t 2PGE+Au) reported today
Target | Hole ID | From (m) | To (m) | Length (m) | 2PGE+Au (g/t) | Summary Interval |
Trapiá | DD23TU33 | 235.90 | 307.70 | 71.80 | 1.59 | 71.8 m @ 1.59 g/t 2PGE+Au from 235.9 m incl. 8.15 m @ 10.54 g/t 2PGE+Au, 0.37% Ni, 0.11% Cu from 258.85 m and 0.6 m @ 46.07 g/t 2PGE+Au from 259.5 m |
258.85 | 267.00 | 8.15 | 10.54 | |||
259.50 | 260.10 | 0.60 | 46.07 | |||
Ipueiras | DD23IP04 | 0.00 | 11.85 | 11.85 | 0.55 | 11.85 m @ 0.55 g/t 2PGE+Au from surface incl. 0.9 m @ 1.58 g/t 2PGE+Au from 2.65 m |
2.65 | 3.55 | 0.90 | 1.58 |
**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 (“Trapia” comprises four 2022 NI 43-101 resources zones: Trapia 1, Trapia 2, Trapia West and Trapia South).
Figure 2: Trapiá 1 Deposit long section (looking NE) highlighting location of drill hole DD23TU33 (today’s release) and the 300 m step out drilling at DD23TU32, for which assays are pending.
Figure 3: Core photographs of the high-grade PGE zone intercepted in drill hole DD23TU33. Mineralization hosted within chromite reef and sulfide-rich peridotites.
Figure 4: Detailed core photographs of high-grade PGE-(Ni-Cu) mineralized peridotites (left) and >40 g/t 2PGE+Au chromitite reef (right) intercepted in diamond drill hole DD23TU33.
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
About
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On behalf of the Board of Directors,
“Jim Paterson”
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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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Pedra Branca Project Property
Figure 1: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones (“Trapia” comprises four 2022 NI 43-101 resources zones: Trapia 1, Trapia 2, Trapia West and Trapia South).
Trapiá 1 Deposit
Figure 2: Trapiá 1 Deposit long section (looking NE) highlighting location of drill hole DD23TU33 (today’s release) and the 300 m step out drilling at DD23TU32, for which assays are pending.
Core Photographs
Figure 3: Core photographs of the high-grade PGE zone intercepted in drill hole DD23TU33. Mineralization hosted within chromite reef and sulfide-rich peridotites.
Detailed Core Photographs
Figure 4: Detailed core photographs of high-grade PGE-(Ni-Cu) mineralized peridotites (left) and >40 g/t 2PGE+Au chromitite reef (right) intercepted in diamond drill hole DD23TU33.
2023 GlobeNewswire, Inc., source