“The rapid advancement of São Francisco, Nambi and Galante West continues with the deployment of ValOre’s sequential exploration methodology. A cumulative 290 metres have been excavated in 4 trenches, with 236 metres of ultramafics exposed and 290 samples submitted for assay. In addition, 337 metres have been augered in 118 Trado® holes, with 236 metres of ultramafics intercepted and 361 samples submitted for assay,” stated ValOre’s VP of Exploration,
Trenching PGE Assay Highlights:
São
- 67 metres (“m”) @ 0.59 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), incl. 2 m @ 8.23 g/t 2PGE+Au, and 1 m @ 13.47 g/t 2PGE+Au – Trench TR22SF01;
- 41 m @ 0.43 g/t 2PGE+Au, incl. 2 m @ 1.70 g/t 2PGE+Au, and 3 m @ 1.20 g/t 2PGE+Au – Trench TR22SF04.
- 22 m @ 0.53 g/t 2PGE+Au – Trench TR22NB04.
Trado® Auger PGE Assay Highlights:
Galante West Target:
- 2.5 m @ 2.00 g/t 2PGE+Au from surface, incl. 1.0 m @ 3.83 g/t 2PGE+Au from 1 m depth – Trado® hole AD22GL01;
- 3.0 m @ 0.76 g/t 2PGE+Au from surface – Trado® hole AD22GL02.
Exploration Update Summary
Nambi, São Francisco and Galante West represent pipeline targets under evaluation by ValOre’s exploration methodology, which assesses the near-surface PGE potential of showings throughout the Pedra Branca district. CLICK HERE for São Francisco and Nambi news release dated
At Nambi, four trenches totaling 108 m all exposed ultramafic (“UM”) rocks, establishing an in situ geological trend of approximately 1.2 km. PGE assays are reported herein for the final trench TR22NB04 (Table 1), with PGE mineralization now confirmed in all four trenches. The 1.2-km-long trend of continuous in-situ PGE mineralization remains open along strike in both directions.
At São Francisco, four trenches totaling 182 m all exposed ultramafic (“UM”) rocks, establishing an in situ geological trend of approximately 300 m. PGE assays are reported herein for all 4 trenches (Table 1), including a high-grade chromitite interval in trench TR22SF01 of 8.23 g/t 2PGE+Au over 2 metres. See Figure 3 below for a detailed plan map of the São Francisco target, and Figure 4 below for photographs of São Francisco trenches and high-grade chromitites.
At Galante West, a total of 79.2 m in 20 Trado® auger holes have been drilled, with UMs encountered in 18 of 20 holes (68.7 m total). Assays are reported herein for 3 holes (Table 2) and are pending for 17 holes. Follow-up trenching is planned, with approximately 100 m in two trenches to be excavated, sampled and assayed in Q4.
Trado® end of hole (“EOH”) depths typically represent that the auger has entered impenetrable bedrock, so mineralization and UM rocks present at EOH remain open at depth and require follow-up core or RC drilling.
Follow-up field exploration campaigns are in progress to assess prospectivity along trends at Nambi, São Francisco and Galante West. To date, all three targets meet the criteria of zones which warrant further testing by core and/or RC drilling.
About Galante West
Galante West target is located 2 km southwest of and along trend from the main Galante target, which was prioritized in 2022 by ValOre with an extensive exploration program, including soil sampling, Trado® auger drilling and trenching, which culminated with the definition of a drill-ready, 3-km-long PGE mineralized trend. CLICK HERE for news release dated
Galante West shows similar geophysical and geochemical signatures, with reported historical rock assays of 24 g/t 2PGE+Au from chromite-bearing UM rocks (Figure 6). A total of six historical core holes were drilled in the area, mainly targeting magnetic anomalies. Ultramafic rocks were not intercepted; however, reinterpretations based on detailed structural mapping by ValOre geologists, supported by Trado® drilling, suggest that three of the six holes were shut down prematurely within the hanging wall sequence. Consequently, much of the Galante West target remains largely untested by drilling.
Table 1: Trench Channel Sample Assay Highlights for São Francisco and Nambi Targets.
Target | Trench ID | From (m) | To (m) | Length (m) | 2PGE+Au (g/t) | 2PGE+Au Interval Summary |
São Francisco | TR22SF01 | 0 | 67 | 67 | 0.59 | 67 m @ 0.59 g/t 2PGE+Au incl. 2 m @ 8.23 g/t 2PGE+Au and 1 m @ 13.47 g/t 2PGE+Au |
65 | 67 | 2 | 8.23 | |||
65 | 66 | 1 | 13.47 | |||
São Francisco | TR22SF02 | 8 | 35 | 27 | 0.42 | 27 m @ 0.42 g/t 2PGE+Au |
São Francisco | TR22SF03 | 0 | 38 | 38 | 0.35 | 38 m @ 0.35 g/t 2PGE+Au |
São Francisco | TR22SF04 | 1 | 42 | 41 | 0.43 | 41 m @ 0.43 g/t 2PGE+Au incl. 2 m @ 1.70 g/t 2PGE+Au and 3 m @ 1.20 g/t 2PGE+Au |
25 | 27 | 2 | 1.7 | |||
37 | 40 | 3 | 1.2 | |||
Nambi | TR22NB04 | 8 | 30 | 22 | 0.53 | 22 m @ 0.53 g/t 2PGE+Au |
*Reported trench assay interval lengths from Nambi are channel samples and estimated to represent 85-90% true width. São Francisco trench assay intervals are estimated to represent 40-50% true width.
Table 2: Trado® Auger Drilling Highlights for São Francisco and Galante West Targets.
Target | Hole ID | From (m) | To (m) | Length (m) | 2PGE+Au (g/t) | 2PGE+Au Interval Summary |
São Francisco | AD22SF16 | 0.00 | 4.00 | 4.00 | 0.51 | 4 m @ 0.51 g/t 2PGE+Au from surface |
São Francisco | AD22SF17 | 0.00 | 1.00 | 1.00 | 0.20 | 3 m @ 0.20 g/t 2PGE+Au from surface |
Galante West | AD22GL01 | 0.00 | 2.50 | 2.50 | 2.00 | 2.5 m @ 2.00 g/t 2PGE+Au from surface incl. 1 m @ 3.83 g/t 2PGE+Au from 1 m |
1.00 | 2.00 | 1.00 | 3.83 | |||
Galante West | AD22GL02 | 0.00 | 3.00 | 3.00 | 0.76 | 3 m @ 0.76 g/t 2PGE+Au from surface |
Figure 1: Plan map of the São Francisco and Galante West targets, shown with the drill-ready Galante target.
https://www.globenewswire.com/NewsRoom/AttachmentNg/093015d4-4c29-4ca1-8af1-11c32dc56fdd
Figure 2: Plan map of the Nambi target, locating 2022 trenches excavated along the main mineralized trend.
https://www.globenewswire.com/NewsRoom/AttachmentNg/58d31304-9fbd-42ce-927d-3abefbae2d74
Figure 3: Plan map of the São Francisco target, locating Trado® auger holes, and 2022 trenches excavated along the main mineralized trend.
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Figure 4: (A) São Francisco trench TR22SF01, (B) chromite-rich mineralized dunite on trench TR22SF04, and (C) high PGE grade in situ chromitite interval in trench TR22SF01.
https://www.globenewswire.com/NewsRoom/AttachmentNg/f6e2cec1-46e3-4ea1-a3e2-c68f2dcd89e3
Figure 5: Plan map of the Galante target, locating Trado® auger holes drilled along the main mineralized trend.
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Figure 6: (A) Chromitite-reef and (B) chromite-bearing ultramafic rock outcropping at Galante West target. Rock sample assays pending.
https://www.globenewswire.com/NewsRoom/AttachmentNg/09132dbe-c70c-468e-92d1-162185867e14
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
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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.
Figure 1: Plan map of the São Francisco and Galante West targets
Figure 1: Plan map of the São Francisco and Galante West targets, shown with the drill-ready Galante target.
Figure 2: Plan map of the Nambi target
Figure 2: Plan map of the Nambi target, locating 2022 trenches excavated along the main mineralized trend.
Figure 3: Plan map of the São Francisco target
Figure 3: Plan map of the São Francisco target, locating Trado® auger holes, and 2022 trenches excavated along the main mineralized trend.
Figure 4: (A) São Francisco trench TR22SF01, (B) chromite-rich mineralized dunite on trench TR22SF04, and (C) high PGE grade in situ chromitite interval in trench TR22SF01.
Figure 4: (A) São Francisco trench TR22SF01, (B) chromite-rich mineralized dunite on trench TR22SF04, and (C) high PGE grade in situ chromitite interval in trench TR22SF01.
Figure 5: Plan map of the Galante target
Figure 5: Plan map of the Galante target, locating Trado® auger holes drilled along the main mineralized trend.
Figure 6: (A) Chromitite-reef and (B) chromite-bearing ultramafic rock outcropping at Galante West target. Rock sample assays pending.
Figure 6: (A) Chromitite-reef and (B) chromite-bearing ultramafic rock outcropping at Galante West target. Rock sample assays pending.
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