Vancouver, British Columbia, November 24, 2021 (GLOBE NEWSWIRE) - ValOre Metals Corp. ("ValOre"; TSX-V: VO; OTC code: KVLQF; Frankfurt: KEQ0, "Company") reported today The diamond drilling analysis results come from the Pedra Branca Platinum Group Elements ("PGE", "2PGE Au") project ("Pedra Branca") 100% owned by ValOre, located in the Santo Amaro target in northeastern Brazil.
"The drilling in Santo Amaro in 2021 was a great success, returning significant shallow PGE intercepts in 16 of the 20 holes," said Colin Smith, ValOre's vice president of exploration. "The interception of 127 meters of platinum group elements in borehole DD21SA27 located 95 meters away from the southeast-southeast resources indicates that this underexplored target area has impressive upside potential."
Major updates of Santo Amaro core drilling in 2021:
Drilling 20 holes with a total length of 2,316 meters ("m"), mainly for resource expansion;
All 20 completed holes intercepted the target ultramafic ("UM") invaders and fully received the test. 16 of the 20 core holes returned significant PGE interception;
Highlights of the newly received near-surface PGE intervals include:
127 m, 0.85 grams of palladium platinum per ton ("g/t 2PGE Au") from 39 m, including 27 m, at a distance of 2.25 g/t 2PGE Au at a distance of 55 m. Drill DD21SA42
53 m at 1.19 g/t 2PGE Au from 2.0 m, incl. 20 m at 2.13 g/t 2PGE Au from 29 m drilled DD21SA34
22 m at 2.64 g/t 2PGE Au from 18 m, included. 6.0 m at 5.32 g/t 2PGE Au from 29 m drilling DD21SA37
20 m at a distance of 40 m from the DD21SA33 borehole at 1.67 g/t 2PGE Au;
The strike length of PGE mineralization confirmed by drilling along the trend increased from 215 m to over 600 m;
Continuity of geology and PGE grade has been established between the Northwest Target ("NW") and the resource area. There are 8 positive NW boreholes with an interval of about 60-90 m;
The broad trend of near-surface PGE mineralization is still basically open.
*The reported core detection interval length is estimated to represent 80-100% of the true width
Santo Amaro Target and 2019 mineral resources field
Santo Amaro is one of the five PGE deposit areas currently defined in Pedra Branca. These deposits have a total of 1,067,000 ounces ("oz") of 2PGE Au inferred resources, contained in 27.2 million tons ("Mt"), with a grade of 1.22 g/ Tons of 2PGE gold. Summary of Inferred Resources and Pedra Branca Resource Estimates for 2019 NI 43-101 Technical Report, May 2019.
The mineral resources of Santo Amaro in 2019 are defined by five preValOre boreholes with an interval of 45-60 m. Along a collective geological trend of 215 m, they together constitute an inferred resource of 203,000 ounces, with 1.19 g/t 2PGE Au in 5.3 as an improvement. The geological constraint of a resource estimation, in 2021, drill 10 scissor holes in 5 blocks (2 holes for each block) north of the resource hole, and each block has 1 vertical hole (-90° inclination)) and 1 hole inclined to the south (-50° inclination).
All 10 holes returned to shallow, well-mineralized intercepts, establishing a strong geological and PGE grade continuity in the resource area. The key PGE intercepts include: 36 m, 2.22 g/t 2PGE Au distance of 43 m, inclusive. 9.1 m, 6.38 g/t 2PGE Au, 43 m, 53 m, 1.19 g/t 2PGE Au, 2.0 m, including 20 m, 2.13 g/t 2PGE Au, 29 m from DD21SA34 borehole. For a summary of important core analysis, see Table 1 below, and for the floor plan of Santo Amaro drilling, see Figure 1 below.
Resource expansion potential during the strike
The extension of the eastward resource trend shows the thickening of the mineralization package, and then three holes will be targeted in 2021. All three holes intercepted a wide range of target UM along the trend of existing resources, including the prominent hole DD21SA42, which returned 127 mg/t 2PGE Au at 0.85 from 39 m, including 27 m, 2.25 g/t 2PGE Au from 55 m. For a summary of important core drill analyses, see Table 1 below, and for the cross-section of DD21SA42, see Figure 2 below.
The resource extraction potential in the west and northwest is still open, as evidenced by the westernmost 2020 borehole DD20SA23, which returns 20 m from the surface at 0.98 g/t 2PGE Au (click here for the date January 2021 News on the 15th) and borehole DD21SA37 in 2021, located at 220 m northwest (NW target), returning from 18 m to 22 m, 2.64 g/t 2PGE Au.
The NW target represents an emerging shallow PGE body, located about 250 m northwest of the resource area. The target is 6 holes in 2021 with a total length of 729 m. The goal is to include this area in future resource estimates. All 6 holes intercepted the target shallow UM intrusion, and 4 of them returned the important near-surface PGE interception, establishing a strong force between the 200 mx 300 m zone and the resource area (250 m to southeast-southeast). Geological continuity. Highlight drill hole DD21SA37 returns 22 m from 18 m, 2.64 g/t 2PGE Au, included. 6.0 m at 5.32 g/t 2PGE Au from 29 m. For a summary of important core core analyses, see Table 1 below.
Table 1: Analysis of important core 2PGE Au from 2021 Santo Amaro Drilling
59 m at 0.60 g/t 2PGE Au from 42 m
29 m at 0.83 g/t 2PGE Au from 34 m included. 12 m at 1.12 g/t 2PGE Au from 43 m
The 0.26 g/t 2PGE Au of 8.5 m is 4.5 m, and the 0.26 g/t 2PGE Au of 88 m is 31 m. 4.0 m at 0.99 g/t 2PGE Au from 88 m
7.7 m at 2.96 g/t 2PGE Au from 20 m incl. 3.0 m at 5.24 g/t 2PGE Au from 22 m
29 m at 1.41 g/t 2PGE Au from 23 m
36 m at 2.22 g/t 2PGE Au from 43 m included. 9.1 m at 6.38 g/t 2PGE Au from 43 m
46 m at 0.81 g/t 2PGE Au from 49 m incl. 16 m at 1.22 g/t 2PGE Au from 52 m
23 m at 1.07 g/t 2PGE Au from 18 m incl. 8.0 m at 2.13 g/t 2PGE Au from 22 m
2.7 m at 0.40 g/t 2PGE Au from 1.4 m and 20 m at 1.67 g/t 2PGE Au from 40 m
53 m at 1.19 g/t 2PGE Au from 2 m incl. 19.9 m at 2.13 g/t 2PGE Au from 29 m
2.6 m at 0.60 g/t 2PGE Au from 47 m
8.0 m at 0.23 g/t 2PGE Au distance from the surface and 15 m at 0.22 g/t 2PGE Au distance 119 m
22 m at 2.64 g/t 2PGE Au from 18 m incl. 5.95 m at 5.32 g/t 2PGE Au from 29 m
24 m at 0.59 g/t 2PGE Au from 35 m included. 4.5 m at 1.33 g/t 2PGE Au from 54 m
28 m at 0.51 g/t 2PGE Au included from the surface. 5.2 m at 1.30 g/t 2PGE Au from 3.9 m
127 m at 0.85 g/t 2PGE Au from 39 m incl. 27 m at 2.25 g/t 2PGE Au from 55 m
*Released on October 20, 2021** The core detection interval length of the report is estimated to represent 80-100% of the true width
Figure 1: The floor plan of Santo Amaro Drilling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e2174993-5186-4a44-819e-0f88a142ac67
Figure 2: The cross-section of borehole DD21SA42 is available from https://www.globenewswire.com/NewsRoom/AttachmentNg/598a27f5-2333-4402-bcea-cb1a9e8a3d84
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.
The technical information in this press release was prepared in accordance with Canadian regulatory requirements specified in NI 43-101, and has been reviewed and approved by ValOre's QP and Vice President of Exploration Colin Smith, P. Geo.
ValOre Metals Corp. (TSX-V: VO) is a Canadian company with a series of high-quality exploration projects. ValOre's team aims to use capital and knowledge for projects that benefit from substantial upfront investment by previous owners, large-scale high-value mineralization, and the possibility of adding tangible value through exploration, process improvements and innovation.
In May 2019, ValOre announced the acquisition of Brazil's Pedra Branca Platinum Group Elements (PGE) assets to strengthen its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.
The Pedra Branca PGE project includes 51 exploration licenses with a total area of 55,984 hectares (138,339 acres) and is located in the northeast of Brazil. In Pedra Branca, 5 different PGE Au deposit areas have a total of 1,067,000 ounces of 2PGE Au current inferred resources, including 27.2 million tons of 1.22 g/ton 2PGE Au (click here to view ValOre’s release on July 23, 2010). news). All currently known PGE resources inferred by Pedra Branca may have been mined in the open pit.
The comprehensive exploration plan has proven the "regional scale" potential of ValOre's Angilak mining area in Nunavut, Canada. The mining area has Lac 50 Trend and currently has an inferred resource of 2,831,000 tons, a grade of 0.69% U3O8, and a total of 43.3 million pounds of U3O8. . For the disclosure of the inferred resources of the Lac 50 Trend uranium deposit, please click here to view the ValOre press release on March 1, 2013.
ValOre's team has established a strong relationship with Nunavut Tunngavik Inc. (NTI), an experienced resource industry investor and partner, on Angilak and Baffin Gold Properties. ValOre is the first company to sign a comprehensive agreement to explore uranium on land owned by the Inuit in Nunavut, and is committed to creating shareholder value while adhering to high levels of environmental and safety standards and active local community involvement .
On behalf of the board of directors,
James R. Paterson, Chairman and Chief Executive Officer
For more information about ValOre Metals Corp. or this press release, please visit our website www.valoremetals.com or contact the Investor Relations Department at 604.653.9464, or send an email to contact@valoremetals.com.
ValOre Metals Corp. is a proud member of the Discovery Group. For more information, please visit: http://www.discoverygroup.ca/
Neither TSX Venture Exchange nor its regulatory service provider (as the term is defined in the policies of TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
This press 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 are based on factors and assumptions about future events, which may prove to be inaccurate. These factors and assumptions are based on the information currently available to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors, which may affect actual results or events and cause actual results or events to be materially different from those stated, expected or implied in the forward-looking statements . Many important factors, including those listed in other public documents, may cause actual results and results to differ materially from those expressed in these forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include ValOre's future operations and economic factors. Readers are reminded not to rely too much on forward-looking statements. The statements in this press release are made on the date of this press release. Unless required by applicable law, ValOre assumes no obligation to publicly update or revise any forward-looking statements included, whether due to new information, future events or other . ValOre is not obliged to comment on the analysis, expectations or statements made by third parties regarding ValOre or its financial or operating performance or (if applicable) its securities.
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