Business
ValOre Metals Expands Pedra Branca Inferred Mineral Resource by 106% to 2.2 Million Ounces at 1.08 g/t 2PGE+Au
VANCOUVER, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today repo
About this update from Valore Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today reported an updated independent National Instrument 43-101 (“NI 43-101”) inferred mineral resource estimate for ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. ValOre’s CEO, Jim Paterson stated, “We are very pleased to announce the doubling of ValOre’s Pedra Branca inferred mineral resource estimate, which was expanded to 2.2 million ounces of palladium, platinum, and gold at 1.08 g/t 2PGE+Au. Several of the zones which form part of the resource estimate remain wide open for expansion in future drill programs. ValOre’s technical team has demonstrated their ability to expand known resource zones and to convert exploration targets into resource ounces in a very cost effective manner. We spent $6.1M CAD on exploration, administration and development at Pedra Branca since the 2019 acquisition and resource estimate, which equates to under CAD$6 per ounce of 2PGE+Au added to the resource inventory. With the initial metallurgical results recently reported, today’s announcement on the resource expansion, and a discovery pipeline of exploration targets laid out property-wide, we very excited about the future potential of ValOre’s Pedra Branca Project.” Highlights of the 2022 NI 43-101 Pedra Branca Inferred Mineral Resource Estimate: 2,198 thousand ounces (“Koz”) palladium + platinum + gold (“2PGE+Au”) in 63.6 million tonnes (“Mt”) grading 1.08 g/t 2PGE+Au; 106% increase to 2019 inferred mineral resource; $6.1M CAD spent on exploration and development since 2019 resource, equating to $5.40 per ounce 2PGE+Au added; 17,434 metres (“m”) have been drilled since the 2019 resource, with approximately 11,500 m allocated to resource expansion; Extensive resource growth potential remains at Massapê, Santo Amaro, Trapia, and Cedro, in addition to advanced exploration targets property-wide; Regional exploration by Trado® drilling continues to advance new prospects to RC or core drill targets. 2022 Inferred Mineral Resource Estimate The updated Pedra Branca mineral resource estimate was completed by independent Brazilian consultancy GE21 Consultoria Mineral (“GE21”), in accordance with Canadian Institute of Mining, Metal...