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ValOre Metals Drills Shallow PGE Mineralization at Santo Amaro Target, Pedra Branca
VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today annou
About this update from Valore Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results for Santo Amaro zone drilling at ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in northeastern Brazil. Near surface PGE mineralization was intersected in eleven of the twelve core drill holes that intersected the ultramafic (“UM”) intrusion associated with the Santo Amaro NI 43-101 Inferred Resource. This drilling successfully extended near-surface PGE-mineralization along strike to the east and west, which remains open in both directions. In addition, a new, near-surface PGE-bearing zone was drilled 250 metres to the north-northwest of the Santo Amaro resource area. “This phase of drilling at Santo Amaro was very successful. We intersected PGE mineralization at shallow depths in multiple zones, including an area 250 metres to the north-northwest of the known Santo Amaro resource,” stated ValOre’s Chairman and CEO, Jim Paterson. “Our exploration team identified several previously unmapped ultramafic rock units which extend well beyond the currently defined resource area boundaries. A mapping, soil and rock sampling, and prospecting program is underway in this area, with follow-up drilling planned as soon as practical.” Highlights from Santo Amaro Drilling: Shallow PGE mineralization intersected in eleven of twelve 2020 drill holes; PGE mineralization drilled along-strike to the west of the Santo Amaro resource area in:◦ Drill Hole DD20SA23 - 14.65 metres (“m”) grading 1.29 grams per tonne (“g/t”) palladium + platinum + gold (“2PGE+Au”) from surface; PGE mineralization drilled along-strike to the east of the Santo Amaro resource area in:◦ Drill Hole DD20SA18 - 34.91 m grading 0.61 g/t 2PGE+Au from 16.50 m; An emerging near-surface PGE zone drilled 250 m north-northwest of the Santo Amaro resource area in:◦ Drill Hole DD20SA16 - 4.00 m grading 3.10 g/t 2PGE+Au from 67.00 m, including 1.30 m grading 7.95 g/t 2PGE+Au from 67.00 m◦ Drill hole DD20SA22 - 11.81 m grading 0.91 g/t 2PGE+Au from surface. Santo Amaro Target Area and the 2019 NI 43-101 Resource Santo Amaro is one of five defined PGE deposit areas at Pedra Branca that together host an inferred resource totaling 1,067,000 ounces (“oz”) 2PGE+Au contained ...