ValOre Assays Confirm Palladium-Platinum Discovery at Salvador Target, Pedra Branca Project : 43.85 m at 0.76 g/t 2PGE+Au starting from 45.25 m, incl. 10.85 m at 1.19 g/t 2PGE+Au from 51.3 m
ValOre Assays Confirm Palladium-Platinum Discovery at Salvador Target, Pedra Branca Project :
43.85 m at 0.76 g/t 2PGE+Au starting from 45.25 m, incl. 10.85 m at 1.19 g/t 2PGE+Au from 51.3 m
Vancouver, British Columbia, October 4th, 2023 - ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB:
KVLQF; Frankfurt: KEQ0, “the Company”) today reported initial Salvador core assay results from the
recently completed 2023 Phase 1 drill program at ValOre’s 100% -owned Pedra Branca Platinum Group
Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“Results from trenching and drilling confirm an exciting and significant discovery at Pedra Branca and
demonstrate the team’s ability to successfully advance previously untested zones along the Troia trend,”
stated Thiago Diniz, Exploration Manager, ValOre Metals Corp. “ The Salvador drilling program was
designed to test 400 m etres of strike within a 1.3 -kilometre-long mineralized trend. Chromite-bearing
ultramafic rocks were intercepted in 7 of 8 holes drilled in the target, showing great thickness and depth
continuity. We look forward to receiving assay results from the remaining 6 holes while we expand the field
program to test mineralization continuity to the north and south of the main zone, thro ugh additional
mapping, soil, Trado® and trenching.”
Salvador Target Highlights
• Core assay results received for the first of seven ultramafic-bearing (“UM”) holes at the Salvador target,
with a total of 1,056 metres (“m”) drilled;
o 43.85 m at 0.76 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) starting
from 45.25 m, including 10.85 m at 1.19 g/t 2PGE+Au from 51.3 m, and 6.05 m at 1.35 g/t
2PGE+Au from 80.45 m;
• Trench assay results reported for 2 of 4 trenches excavated in the target. Total of 145 m excavated in
4 trenches, with UM rocks exposed in all four trenches (120 m);
o TR23MES01 : 55 m at 0.80 g/t 2PGE+Au
o TR23MES02 : 25 m at 1.15 g/t 2PGE+Au
• Assays pending for the remaining 6 Salvador core holes and trenches, spanning 400 m of strike within
a 1.3-kilometre-long (“km”) mineralized trend;
• Additional mapping, soil sampling and Trado ® drilling are in progress aiming at detailing PGE
mineralization continuity at surface to the north and south of the main zone.
2023 Drill Program
• 6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones (see ValOre
news release of September 21, 2023);
• 1,625 core samples sent to lab, with assays pending for 572 samples from 13 holes.
Table 1: Drilling Totals and Assay Status by Zone
Target Total Drilled
(m) # Holes # Holes w/
UMs
Total UMs
(m)
Core
Samples
Assays
Received
Assays
Pending
Galante 790 11 11 190 384 384 0
Tróia 1,029 9 6 72 188 188 0
Nambi 665 6 6 74 203 185 18
Ipueiras 228 4 3 27 83 34 49
Massapê 380 4 3 19 48 48 0
Cedro 545 2 1 4 14 14 0
Trapiá 1 1,326 4 4 175 272 95 177
Trapiá South 133 1 1 4 36 36 0
Salvador 1,056 8 7 265 397 69 328
Total 6,152 49 42 830 1,625 1,053 572
Table 2: Core Assay Highlights (g/t 2PGE+Au) Reported Today
Target Hole ID From (m) To (m) Length* (m) 2PGE+Au
(g/t)
Salvador DD23MES01
45.25 89.10 43.85 0.76
51.30 62.15 10.85 1.19
80.45 86.50 6.05 1.35
*Reported core assay interval lengths are estimated to represent 90-100% of true width.
Figure 1: Pedra Branca project property map, highlighting location s of the 2023 drill targets and
current resource zones.
Figure 2: Cross sections along the main zone at the Salvador target. Assays reported for trenches
TR23MES01 and TR23MES02 and drill hole DD23MES01. Assays pending for the remaining holes
and trenches.
Figure 3: Core photographs of the chromite-bearing PGE-rich peridotites intersected in drill hole
DD23MES01 (6.05 m grading 1.35 g/t 2PGE+Au from 80.45 m within the broader intercept of 43.9
m grading 0.76 g/t 2PGE+Au).
Quality Assurance/Quality Control (“QA/QC”)
CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval
reporting.
Qualified Person (“QP”)
The technical information in this news release has been prepared in accordance with Canadian regulatory
requirements set out in NI 43-101 and reviewed and approved by Thiago Diniz, P.Geo., ValOre’s QP and
Exploration Manager.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX ‐V: VO) is a Canadian company with a team aiming 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
and innovation.
ValOre’s Pedra Branca Platinum Group Elements Project comprises 52 exploration licenses covering a
total area of 56,852 hectares (140,484 acres) in northeastern Brazil. At Pedra Branca, 7 disti nct PGE+Au
deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in
63.6 Mt grading 1.08 g/t 2PGE+Au. ValOre’s team believes the Pedra Branca project has significant
exploration discovery and resource expansion potential. (CLICK HERE to download 2022 technical report*
and CLICK HERE for news release dated March 24, 2022).
*The 2022 Technical Report is entitled “Independent Technical Report –Mineral Resource Update on the
Pedra Branca PGE Project, Ceará State, Brazil” was prepared as a National Instrument 43-101 Technical
Report on behalf of ValOre Metals Corp. with an effective date of March 08, 2022. The 2022 Technical
Report by Independent qualified persons, Fábio Valério (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21,
commissioned to complete the mineral resource estimate while Chris Kaye of Mine and Quarry Engineering
Services Inc. (MQes), was commissioned to review the metallurgical information.
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 www.valoremetals.com or contact Investor Relations at [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please
visit: http://www.discoverygroup.ca/
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