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ValOre Metals Provides Update on Pedra Branca Activities
VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp. ("ValOre" or the “Company”; TSX‐V: VO; OTC: KVLQF; FRANKFURT: KEQ0) today pro
About this update from Valore Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (\"ValOre\" or the “Company”; TSX‐V: VO; OTC: KVLQF; FRANKFURT: KEQ0) today provided an update on the ongoing exploration activities at the Company’s 100%-owned Pedra Branca Platinum Group Elements Project (“PGE”, “2PGE+Au”) in northeastern Brazil since the August 14, 2019 closing of the acquisition. “We are proud of the advances we have made at Pedra Branca since closing the acquisition in August of last year,” stated Jim Paterson, Chairman & CEO. “Since that time, we have successfully implemented an exploration targeting methodology that has yielded many high-priority PGE targets, bolstered our technical team and started metallurgical test work. Most importantly, from a news flow perspective, we have started core drilling at Pedra Branca and look forward to reporting preliminary results from our Phase 1 program soon.” 2020 Drill Program Underway In April, ValOre announced key details of the proposed 2020 Pedra Branca drill program, comprised of two phases totaling 5,910 metres, with 2,875 metres in Phase 1 and 3,035 metres in Phase 2. The drill program will test three target classes at 11 property-wide exploration areas: Resource expansion; New discovery (undrilled targets); and Target advancement (follow-up on historical intercepts at pre-resource targets). On July 9, 2020, ValOre announced that the Pedra Branca core drill program had started. Phase 1 is targeting 7 distinct target areas with 23 core drill holes totaling 2,875 metres. The first target drilled was the Trapia 1 deposit area, with the goals of resource expansion and new discovery. Logging and sampling of core from Trapia 1 has been completed and 444 drill core samples from 5 holes have been sent to SGS Vespasiano, Minas Gerais for assay. Assay results will be released upon receipt and review of data. CLICK HERE for Figure 1, which provides a summary map of the 2020 drill program at Pedra Branca. Servitec Foraco Sondagem SA, a Brazilian drilling company based in the State of Goiás, is conducting the drilling at Pedra Branca. It has more than 700 employees, 90 drill rigs and operates throughout Brazil with clients including Nexa Resources S.A., NX Gold S.A., Lundin Mining Corporation and CMOC Brasil. Successful Implementation of Targeting Methodology In December 2019, Val...