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ValOre Reports Rhodium Assays from Pedra Branca PGE Project, Brazil: Initial results from Esbarro Deposit yield up to 1.44 g/t Rhodium
VANCOUVER, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (TSX‐V: VO) ("ValOre") today announced initial rhodium (Rh) assay results fo
About this update from Valore Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (TSX‐V: VO) (\"ValOre\") today announced initial rhodium (Rh) assay results for 51 historical, pulverized drill core samples (pulps) from the Pedra Branca Platinum Group Elements and Gold (PGE+Au) project in northeastern Brazil. This is the first-time rhodium has been assayed in drill core at Pedra Branca. Key Point Summary: Rhodium is a rare and valuable platinum group metal. The spot price of which has risen dramatically over the past 18 months from below US$4,000 per ounce in mid-2019 to the current price of US$11,500; Rhodium mineralization has not been previously documented in drill core assays from Pedra Branca; A strong correlation was noted between 2PGE+Au grade (palladium + platinum + gold) and rhodium grade, with the 5 highest-grade 2PGE+Au pulps exhibiting 4 of the highest Rh assay values; The Esbarro deposit returned the best results, with 6 of 8 pulps over the detection limit, including the highest-grade assay of 1.44 grams Rh/tonne, and the highest average grade (0.35 g Rh/t); 21 of the 51 pulps (41%) collected from five deposit areas making up the global NI 43-101 2PGE+Au inferred resource returned rhodium values over detection limit (0.01 g Rh/t). ValOre’s Chairman and CEO, Jim Paterson stated: “Rhodium was previously undocumented in drilling related data at Pedra Branca; however, with these results we can see the correlation between the higher grades of palladium, platinum and rhodium in drill core and our team is excited to utilize this knowledge to help us in the exploration and discovery process on a regional scale.” Fifty-one (51) historical Pedra Branca drill core pulp samples were submitted for rhodium assay at SGS Geosol, Minas Gerais. Batches of approximately 10 pulps from each of the existing five NI 43-101 PGE+Au deposits were selected on the following basis: a range of 2PGE+Au grades (from >2 to >44 g/t) and intercept depths (from near surface to >86m) to assess trends in rhodium distribution. A strong positive correlation of Rh grade to 2PGE+Au grade was evident, with the 5 highest-grade 2PGE+Au samples returning 4 of the highest Rh values. There was no observable trend in Rh grade distribution based on drill intercept depth. The Esbarro deposit (394,000oz at a grade of 1.23 g 2PGE+Au/t) returned the best re...