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Highlights from Initial Drilling at Trapia 1:
- Drill hole DD20TU10
• 1.0 g/t 2PGE+Au over 52.8 metres from surface, including 2.14 g/t 2PGE+Au over 9.0 metres*;
• Successfully extends the up-dip mineralized body to surface in the southern portion of the Trapia 1 resource area; - Drill hole DD20TU12
• 0.69 g/t 2PGE+Au over 100.4 metres from to 93.2 metres depth, including 2.33 g/t 2PGE+Au over 11.0 metres*;
• Extends the down-dip mineralization at Trapia 1, and shows a thickening of the mineralized body at depth; - Trapia 1 mineralization remains open down-dip to the east.
* Reported assay intervals are estimated to be 90-100% true width
“We are extremely pleased with initial results from the Phase 1 drill program at Pedra Branca, including the assays received from these first two holes at the Trapia 1 target area. It is just the beginning of a very exciting period of exploration and discovery at the Pedra Branca project,” stated
Trapia Target Area and the 2019 NI 43-101 Resource
A NI 43-101 inferred resource estimate for Pedra Branca was reported by ValOre in August, 2019, totaling 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g/t 2PGE+Au”). PGE mineralization for all five deposit areas outcrops at surface, making the inferred resources prospective for open pit mining. Trapia represents one of the five deposit areas which host the NI 43-101 resource at Pedra Branca. CLICK HERE for Figure 1, showing the location of the five NI 43-101 deposit areas and proposed 2020 drill holes.
The Trapia resource is comprised of three separate deposit areas within a 2-kilometre radius: Trapia 1, Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia resource of 219,000 ounces at 1.1 g/t 2PGE+Au (6.2 Mt). CLICK HERE for Figure 2, showing location of Trapia target areas (Trapia 1, Trapia 2 and Trapia West), proposed and drilled 2020 drill holes, and prospective 3D magnetic inversion targets.
Trapia 1 was selected for Phase 1 of the 2020 drill program on the merits of its strong resource expansion potential and high prospectivity along strike to the south, which correlates with a prospective, 3D magnetic inversion target extending approximately 1 kilometre from the defined resource. A total of 899.6 metres were drilled in five drill holes, testing both the PGE mineralization open at depth to the east and the 3D magnetic inversion target. CLICK HERE for Table 1 showing a summary of 2020 Phase 1 drilling at Trapia 1, and see Figure 3 below.
Figure 3: Trapia 1 Target Area with Location of 2020 Drill Holes, Resource, and 3D Mag Inversion Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/833d02e8-778a-4273-9195-88953cdb02e9
Initial Trapia 1 2020 Drilling Results
Target ultramafic rocks were intercepted in all five drill holes at Trapia 1 (DD20TU10 DD20TU14), and assay results for DD20TU10 and DD20TU12 extend the mineralization up-dip to surface in the south of the resource area, and extend the mineralization at depth to the east, respectively. Table 2 below summarizes the most significant core assay results for these first two drill holes. Figure 4 shows a cross section of Trapia 1 with DD20TU10, DD04TU06 (historical) and DD20TU12.
DD20TU10 aimed to target a historical drill intercept (BR-18) which was found in the geological database but not included in ValOre’s 2019 NI 43-101 resource estimate due to the lack of existing drill core. PGE-bearing ultramafic rocks were intercepted from surface to 52.8 metres and again from 63.7 to 64.6 metres (total of 53.1 metres).
DD20TU12 targeted the down-dip easterly extension of Trapia 1 mineralization and intercepted mineralized ultramafic rocks from 93.1 to 193.6 metres (total of 100.4 metres). PGE Mineralization remains open at depth and is thickening with depth.
Initial results and interpretations from 2020 Trapia 1 drilling have enabled ValOre geologists to develop, corroborate and fine-tune a robust geological and structural model to facilitate immediate, highly prospective follow-up drilling within the Phase 1 drill campaign.
Table 2: Summary of Significant Core Assay Results from DD20TU10 and DD20TU12
Drill Hole | Depth From (m) | Depth To (m) | Interval (m) | 2PGE+Au (g/t) |
DD20TU10 | 0.0 | 52.8 | 52.8 | 1.01 |
Including | 6.0 | 15.0 | 9.0 | 2.14 |
DD20TU12 | 93.2 | 193.6 | 100.4 | 0.69 |
Including | 171.8 | 182.7 | 11.0 | 2.33 |
Figure 4: Cross-section A-A’ of Trapia 1 along DD20TU10, DD04TU06 (historical) and DD20TU12 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b39c1943-30c9-4ae7-9281-da0821e11306
Pedra Branca 2020 Drill Program
The 2020 drill program at Pedra Branca is comprised of two fully-permitted phases totaling 6,000 metres, 2,875 metres (“Phase 1”) and 3,035 metres (“Phase 2”), respectively, with an estimated completion of Phase 1 by the end of September, 2020. Both Phases are designed to test three target classes: resource expansion to grow the NI 43-101 resource estimate, target advancement to follow-up positive historical drill intercepts at pre-resource targets, and new discovery to test undrilled ValOre-generated targets.
ValOre has engaged
Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting
As part of ValOre’s QA/QC protocol, a total of seven quality control samples are inserted in each batch of 50 samples. These include the insertion of blanks, standards, and duplicates according to a logical sequence that follows strict industry standards. The seven quality control samples comprise: (i) two coarse blanks sampled from barren quartz vein outcrops in the area (4% of the batch); (ii) three certified reference materials (“CRMs”, 4% of the batch) with pre-determined PGE and Au grades produced by
Grading intervals are reported from continuous drill intersections of favorable ultramafic intrusion that return anomalous 2PGE+Au values throughout, with sample widths averaging 1.0 metres in length throughout the mineralized zone.
Analytical Procedures, SGS Geosol
Once a core sample consignment is received and verified by SGS Geosol, all core samples undergo density calculation by water immersion method on the raw samples wrapped in PVC film. The samples are subsequently prepared for analyses by means of drying, crushing (with 75% passing 3 mm), homogenization, quartering and pulverizing 250 – 300 g of sample in a 95% steel mill at 150 mesh. Multielement analyses is then performed by Sodium Peroxide Fusion followed by a multielement combined ICP-OES and ICP-MS scan for base metals, trace, and lithological elements. Chromium values that exceeded 5% are redirected to ore-grade pyrosulfate fusion and XRF techniques to determine %Cr2O3. Samples are then analyzed for 2PGE+Gold (Pd, Pt, Au) content using standard Fire Assay techniques.
Certified PGE ore reference standards, blanks and field duplicates were inserted as a part of ValOre’s QA/QC protocol. No QA/QC issues were noted with the results reported herein.
SGS Geosol is an accredited mineral analysis laboratory founded in
SGS Geosol is internationally recognized by its extensive experience throughout industry, with technical teams formed by highly qualified professionals. SGS Geosol’s Integrated Management System ensures an excellent level of quality, safety, occupational health, respect for the environment and social responsibility.
The lab is Certified ISO 9001, which provides quality services in analytical chemistry, in compliance with all applicable environmental requirements, and so it is also certified ISO 14001. SGS Geosol has advanced laboratories and the latest technological equipment, which enables its supply of analytical services with security and excellent quality control.
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