ValOre Announces Initial Drill Results from Pedra Branca; Including 1.0 g/t 2PGE+Au Over 52.8 Metres from Surface
ValOre Announces Initial Drill Results from Pedra Branca; Including 1.0 g/t 2PGE+Au Over 52.8
Metres from Surface
August 25, 2020
Vancouver, B.C. ValOre Metals Corp. ("ValOre" ; the “Company” ; TSX ‐V: VO; OTC: KVLQF;
FRANKFURT: KEQ0) today announced initial assay results from the ongoing Phase 1 core drill program
at ValOre’s 100%-owned Pedra Branca Platinum Group Element Project (“PGE”, “2PGE+Au”) in
northeastern Brazil. Assay results for two of the five holes drilled at the Trapia 1 target are reported herein.
Results for the remaining three drill holes will be released once they are received and reviewed.
Highlights from Initial Drilling at Trapia 1:
• Drill hole DD20TU10
o 1.0 g/t 2PGE+Au over 52.8 metres from surface, including 2.14 g/t 2PGE+Au over 9.0
metres*;
o Successfully extends the up-dip mineralized body to surface in the southern portion of the
Trapia 1 resource area;
• Drill hole DD20TU12
o 0.69 g/t 2PGE+Au over 100.4 metres from to 93. 2 metres depth, including 2.33 g/t
2PGE+Au over 11.0 metres*;
o Extends the down-dip mineralization at Trapia 1, and shows a thickening of the mineralized
body at depth;
• Trapia 1 mineralization remains open down-dip to the east.
* Reported assay intervals are estimated to be 90-100% true width
“We are extremely pleased with initial results from the Phase 1 drill program at Pedra Branca, including the
assays received from these first two holes at the Trapia 1 target area. It is just the beginning of a very
exciting period of exploration and discovery at the Pedra Branca project” stated Jim Paterson, Chairman &
CEO. “We are also sincerely thankful for the continued safety and health of our employees, contractors,
and members of the communities of Capitão Mor and area surrounding Pedra Branca.”
Trapia Target Area and the 2019 NI 43-101 Resource
A NI 43-101 inferred resource estimate for Pedra Branca was reported by ValOre in August, 2019, totaling
1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes
(“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g/t 2PGE+Au”). PGE mineralization for all five deposit
areas outcrops at surface, making the inferred resources prospective for open pit mining. Trapia represents
one of the five deposit areas which host the NI 43-101 resource at Pedra Branca. CLICK HERE for Figure
1, showing the location of the five NI 43-101 deposit areas and proposed 2020 drill holes
The Trapia resource is comprised of three separate deposit areas w ithin a 2- kilometre radius: Trapia 1,
Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia resource
of 219,000 ounces at 1.1 g/t 2PGE+Au (6.2 Mt) . CLICK HERE for Figure 2, showing location of Trapia
target areas (Trapia 1, Trapia 2 and Trapia West), proposed and drilled 2020 drill holes, and prospective
3D magnetic inversion targets.
Trapia 1 was selected for Phase 1 of the 2020 drill program on the merits of its strong resource expansion
potential and high prospectivity along strike to the south, which correlates with a prospective, 3D magnetic
inversion target extending approximately 1 kilometre from the defined resource. A total of 899.6 metres
were drilled in five drill holes, testing both the PGE mineralization open at depth to the east and the 3D
magnetic inversion target. CLICK HERE for Table 1 showing a summary of 2020 Phase 1 drilling at Trapia
1, and see Figure 3 below.
Figure 3: Trapia 1 Target Area with Location of 2020 Drill Holes, Resource, and 3D Mag Inversion
Target
Initial Trapia 1 2020 Drilling Results
Target ultramafic rocks were intercepted in all five drill holes at Trapia 1 (DD20TU10 DD20TU14), and
assay results for DD20TU10 and DD20TU12 extend the mineralization up-dip to surface in the south of the
resource area, and extend the mineralization at depth to the east, respectively. Table 2 below summarizes
the most significant core assay results for these first two drill holes. Figure 4 shows a cross section of Trapia
1 with DD20TU10, DD04TU06 (historical) and DD20TU12.
DD20TU10 aimed to target a historical drill intercept (BR -18) which was found in the geological database
but not included in ValOre’s 2019 NI 43- 101 resource estimate due to the lack of existing drill core. PGE -
bearing ultramafic rocks were intercepted from surface to 52.8 metres and again from 63.7 to 64.6 metres
(total of 53.1 metres).
DD20TU12 targeted the down-dip easterly extension of Trapia 1 mineralization and intercepted mineralized
ultramafic rocks from 93.1 to 193. 6 metres (total of 100.4 metres). PGE Mineralization remains open at
depth and is thickening with depth.
Initial results and interpretations from 2020 Trapia 1 drilling have enabled ValOre geologists to develop,
corroborate and fine -tune a robust geological and structural model to facilitate immediate, highly
prospective follow-up drilling within the Phase 1 drill campaign.
Table 2: Summary of Significant Core Assay Results from DD20TU10 and DD20TU12
Drill Hole Depth From (m) Depth To (m) Interval (m) 2PGE+Au (g/t)
DD20TU10 0.0 52.8 52.8 1.01
Including 6.0 15.0 9.0 2.14
DD20TU12 93.2 193.6 100.4 0.69
Including 171.8 182.7 11.0 2.33
Figure 4: Cross-section A-A’ of Trapia 1 along DD20TU10, DD04TU06 (historical) and DD20TU12
Pedra Branca 2020 Drill Program
The 2020 drill program at Pedra Branca is comprised of two fully -permitted phases totaling 6,000 metres,
2,875 metres (“Phase 1”) and 3,035 metres (“Phase 2”), respectively, with an estimated completion of
Phase 1 by the end of September, 2020. Both Phases are designed to test three target classes: resource
expansion to grow the NI 43-101 resource estimate, target advancement to follow-up positive historical drill
intercepts at pre-resource targets, and new discovery to test undrilled ValOre-generated targets.
ValOre has engaged Servitec Foraco Sondagem SA for the Phase 1 drill program at Pedra Branca, which
will test seven distinct target areas with 23 diamond drill core drill holes. The Phase 2 drill program will test
4 distinct target areas with 24 diamond drill core drill holes.
Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting
As part of ValOre’s QA/QC protocol, a total of seven quality control samples are inserted in each batch of
50 samples. These include the insertion of blanks, standards, and duplicates according to a logical
sequence that follows strict industry standards. The seven quality control samples comprise: (i) two coarse
blanks sampled from barren quartz vein outcrops in the area (4% of the batch); (ii) three certified reference
materials (“CRMs”, 4% of the batch) with pre-determined PGE and Au grades produced by CDN Resource
Laboratories; (iii) and three duplicate samples (2% of the batch each), including one coarse reject duplicate
and one pulp duplicate (both prepared at SGS laboratory following ValOre’ s instructions) and one ¼ core
duplicate, prepared at ValOre’ s core logging facility in Capitão Mor. Assay results are systematically
checked upon receipt and a specific batch is accepted if results are in accordance with a QA/QC failure
chart. All samples are sent with an ensured chain of custody to SGS Geosol Laboratórios Ltda. (“SGS
Geosol”, an accredited mineral analysis laboratory) in Vespasiano, Minas Gerais, Brazil for analysis.
Grading intervals are reported from continuous drill intersections of favorable ultramafic intrusion that return
anomalous 2PGE+Au values throughout, with sample widths averaging 1.0 metres in length throughout the
mineralized zone.
Analytical Procedures, SGS Geosol
Once a core sample consignment is received and verified by SGS Geosol, all core samples undergo density
calculation by water immersion method on the raw samples wrapped in PVC film. The samples are
subsequently prepared for analyses by means of drying, crushing (with 75% passing 3 mm),
homogenization, quartering and pulverizing 250 – 300 g of sample in a 95% steel mill at 150 mesh.
Multielement analyses is then performed by Sodium Peroxide Fusion followed by a multielement combined
ICP-OES and ICP- MS scan for base metals, trace, and lithological elements. Chromium valu es that
exceeded 5% are redirected to ore- grade pyrosulfate fusion and XRF techniques to determine %Cr 2O3.
Samples are then analyzed for 2PGE+Gold (Pd, Pt, Au) content using standard Fire Assay techniques.
Certified PGE ore reference standards, blanks and field duplicates were inserted as a part of ValOre’s
QA/QC protocol. No QA/QC issues were noted with the results reported herein.
SGS Geosol is an accredited mineral analysis laboratory founded in Brazil from a joint v enture between
SGS do Brasil and Geosol Geologia e Sondagens. It concentrates its activities on geochemical analysis of
soils, rocks, ores, concentrates and metallurgical tests, as well as environmental analyzes of water,
effluents, and industrial waste.
SGS Geosol is internationally recognized by its extensive experience throughout industry, with technical
teams formed by highly qualified professionals. SGS Geosol’s Integrated Management System ensures an
excellent level of quality, safety, occupational health, respect for the environment and social responsibility.
The lab is Certified ISO 9001, which provides quality services in analytical chemistry, in compliance with all
applicable environmental requirements, and so it is also certified ISO 14001. SGS Geosol has advanced
laboratories and the latest technological equipment, which enables its supply of analytical services with
security and excellent quality control.
About Servitec Foraco Sondagem SA
Servitec Foraco is a Brazilian company based in the State of Goiás that started operating as Servitec in
2000, and through innovation, investment, and continuous improvement, emerged as one of the pioneers
of drilling in Brazil. With a prominent position on the national scene, Servitec was acquired in 2012 by one
of the global drilling leaders, Foraco International, forming Servitec Foraco.
Servitec Foraco has more than 700 employees and 90 drill rigs, and operates throughout Brazil with clients
such as Nexa, Anglo American, Yamana Gold, Vale and AngloGold Ashanti. Servitec Foraco is committed
to conducting drill programs with high levels of productivity, safety and respect for the environment and
legislation.
ValOre and Servitec Foraco COVID-19 Protocols
ValOre and Servitec Foraco are closely monitoring impacts on the companies’ operations and business
preparedness plans, as the health and safety of employees, contractors and associated communities is a
top priority.
As part of the safety protocol, the companies have implemented daily screening procedures, temperature
monitoring, self-assessment checklists and issued directives regarding social distancing to ensure a safe
environment for operations. Servitec Foraco has an extensive procedural guide on hygiene and conduct to
be adopted daily during and after work hours.
These decisions reinforce the companies’ objective of preventing the transmission of COVID-19 among its
employees, contractors, and the communities proximal to drilling activities.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX ‐V: VO) is a Canadian company with a portfolio of high‐ quality exploration
projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial
prior investment by previous owners, existence of high- value mineralization on a large scale, and the
possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE)
property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects
in Canada.
The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares
(96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate,
a NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au)
contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g/t 2PGE+Au”) (see
ValOre’s July 23, 2019 news r elease). PGE mineralization outcrops at surface and all of the inferred
resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 105,280-
hectare Angilak Property in Nunavut Ter ritory, Canada that hosts the Lac 50 Trend having a NI 43‐ 101
Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U 3O8. For
disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's
news release of March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner
Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company
to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and
is committed to building shareholder value while adhering to high levels of environmental and safety
standards and proactive local community engagement.
On behalf of the Board of Directors,
"Jim Paterson"
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals Corp. or this news release, please visit our website at
valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
discoverygroup.ca
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