Valorem Outlines Exploration Programs FOR GOLD, Nickel, Specimen Crystals, and GOLD-Copper ON Three Projects, British Columbia, Canada
VALOREM OUTLINES EXPLORATION PROGRAMS FOR GOLD, NICKEL, SPECIMEN
CRYSTALS, AND GOLD-COPPER ON THREE PROJECTS, BRITISH COLUMBIA, CANADA
Vancouver, British Columbia - (May 28, 2021) – VALOREM RESOURCES INC. (the “Company” or “Valorem”) (CSE: VALU)
(Frankfurt: 1XW1) is pleased to provide an update on exploration programs planned for its three gold , nickel, gold-
copper, and specimen crystal prospects in British Columbia, Canada.
The first two properties, the BC Gold Project and the Lac La Hache Gold Project, are located in the Cariboo District near
the historical and currently active mining town of Barkerville in central British Columbia, while the third property, the
Pinto Gold-Copper Project, is in the historical Franklin Mining Camp north of the town of Grand Forks in south central
British Columbia.
The BC Gold Project is located southwest of the main Barkerville District (see our news release dated January 29, 2021,
and red square on Fig ure 2 below), and a second project also located in t he Cariboo Distr ict, the Lac La Hache Gold
Project, is located northeast of 100 Mile House on the north shore of Spout Lake . A third property, the Pinto Gold-
Copper Project is located in the Franklin mining camp north of Grand Forks in south central British Columbia.
BC Gold Project
The BC Gold Project, totalling 4,000 hectares, is comprised of three claim groups, the West, Central and East (see Figure
1), extending for approximately 9-15 kms southwest of the Osisko Development Cariboo Gold Project. As shown on
Figure 2, the property area is located in the red rectangle to the southwest of the town of Barkerville.
Western Claims
Central Claims
Eastern Claims
Figure 1. Location of the three groups of claims of the Valorem property (in black) and the
Osisko Development claims (in pink) overlain on the regional geology showing the two belts.
(Inset) Major cities and Project area shown.
Vancouver
Kamloops
Williams Lake
VALOREM
The reader is cautioned that the presence of a deposit on the adjoining Osisko Development ground does not
necessarily indicate that any such mineralization may be present on the Company’s holdings in the area, or that if
discovered, any such mineralization may be economically extracted.
The Western Claims of the BC Gold Project are located near the Mostique Creek and Lightening Creek placer areas (see
B.C. Minfile No. 093G009 and No. 093G060, respectively). In addition, it covers the Gem gold showing, a turbidite -
hosted gold target (see B.C. Minfile No. 093G073). Exploration planned for the Western claim group containing the
two placer showings and the one bedrock showing in black phyllites will consist of in-depth prospecting and sampling
of previously excavated pits on the gold showing in bedrock black phyllites, and compilation of all existing Min files on
this area. Encouraging geochemical values of gold are no ted in Mi n files from bedrock sources sampled by previous
prospecting.
The Central claims contain the Sovreign nickel-talc-magnesite showing (Assessment File Sovreign Creek deposit, 093A
013). Also within the Central unit are the Peters Creek surficial Placers and the Wormwold Creek surficial placers.
Exploration work planned for the Central claims include a re -evaluation of all work done on the nickel and talc zones
prospected by historical work to follow up the potential for disseminated nickel values occurring as pentlandite
Figure 2. Regional geological setting of the Cariboo Gold District, east-central British Columbia, showing
principal terranes and major lithological packages. Areas of known lode -gold occurrences are shaded
in yellow, and placer -gold producing creeks are indicated b y thick purple lines. Principal known gold -
producing areas in the Barkerville Terrane are in areas of greenschist-grade metamorphism and do not
extend into amphibolite -grade domains. The Valorem property claims in the Lightning Creek and
Barkerville areas are represented by a red rectangle.
(Property file-Findlay, 1971). Creek bottom geochemical sampling and ridgeline geochemical sampling and bedrock
sampling for both nickel and gold, and prospecting will be conducted throughout the Central claims.
The Eastern claims cover several potentially economic target types. The prime targets are the potential for orogenic
gold deposits in the Snowshoe Group of rocks that host many gold occurrences in the Barkerville district, plus potential
for nickel in serpentinized ultramafic rocks within the property. Also in this claim group are the Emerald Valley showings
of quartz-tourmaline pegmatite veins that host very large quartz and plagioclase feldspar crystals of possible value as
gem material or specimen material for potential sale to mineral collectors (Assessment Report 33212).
Both geochemical sampling on creeks and ridges, and prospecting in both the nickel and specimen crystal areas will be
undertaken on the Eastern claims. There is no resource delineated on any of the claim groups in the BC Gold Project
holdings
Lac La Hache Property
The second property, the Lac La Hache Gold Project, comprises 180 hectares on the north shore of Spout Lake in the
Cariboo gold district located northeast of 100 Mile House. To the south of Spout Lake Engold has been drilling a deposit
variously characterized as skarn, carbonate replacement, or porphyry copper deposit containing a modest tonnage of
copper-magnetite mineralization. Garibaldi Resources has also been exploring a similar discovery in this area.
The upcoming program for the Valorem property in this area will consist of geological, geophysical and geochemical
surveying to seek a significant deposit in this prospective area. The property is in the early stage of exploration and no
resource has yet been established on the property.
Pinto Gold Project
The third property holding, the Pinto Gold-Copper Project, covers 80.9 hectares just north of the historic Franklin Mining
Camp located 50 km north of Grand Forks in south central British Columbia. This property is in an area which has been
subject to historical exploration interest by multiple majors during the 1980s , including both Noranda Exploration
Company Ltd. and Inco Ltd. (see B.C. Minfile No. 082ENE19).
Several old workings and historical adits and shallow open pits are scattered in the area. A grab sample by Inco in 1989
assayed 6.829 g/t gold, and a chip sample from a one-meter width of stockwork assayed 4.6 g/t gold (B.C. Minfile No.
082ENE19 and B.C. Assessment report 19385).
The Pinto property covers portions of an intrusive complex that contains multiple showings of gold and copper that
have been compared to and may be analogous to the historical Phoenix Mining Camp located south of Greenwood,
B.C., some 70 km to the southwest of the Franklin Camp.
The former Phoenix Mine produced 25.5 million tonnes of ore averaging 0.9% copper and 1.1 grams gold per tonne. It
was mined both from underground and as an open pit from 1900 -19 and again from 1956-78 (Northern Miner Press,
March 12, 2021) . Current VTEM surveying is being conducted in the vicinity of the Phoenix Mine in the search for
additional copper-gold deposits.
The presence of copper-gold deposits in the analogous Phoenix Mine does not infer that any such mineralization may
be present on the Company’s holdings, or that if discovered that any such deposit may be economically recoverable.
Exploration on the Pinto property will consist of re -evaluation of all available data, prospecting and possibly airborne
geophysical VTEM surveying to detect the potential for an intrusive-related porphyry copper style deposit.
Tony Louie, President of the Company, stated: "Valorem is very pleased to provide our shareholders with material
exposure to the historic Cariboo gold district. The acquisition of the BC Gold Project and the Lac la Hache Gold Project
establishes our presence in a premier historic gold camp in BC. Additionally, the Pinto Gold-Copper Project provides an
entry into the historical Franklin Mining Camp.”
Qualified Person:
This press release has been prepared by, supervised by and approved by Dr. Stewart A Jackson, PGeo, a Qualified Person
under National Instrument 43-101, and independent of the Company.
About Valorem Resources Inc.
Valorem explores and develops precious metal properties in the Americas.
For further details and maps, please see:
https://valoremresources.com/
ON BEHALF OF THE BOARD - Valorem Resources Inc.
Tony Louie, Interim CEO and Director
Email: [email protected]
Office: 888.795.6268
This news release includes certain statements that may be deemed “forward -looking statements”. All statements in
this release, other than statements of historical facts, including the likelihood of commercial mining and possible future
financings are forward -looking statements. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from those in forward- looking statements include
unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration,
unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky
business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements.
For more info rmation on the Company and the risks and challenges of its business, investors should review the
Company's annual filings which are available at www.sedar.com