ValOre Commences Drilling at Pedra Branca PGE Project
ValOre Commences Drilling at Pedra Branca PGE Project
July 9, 2020
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX ‐V: VO ; OTC: KVLQF; FRANKFURT: KEQ 0)
today announced the commencement of Phase 1 diamond drilling at the Company’s 100%-owned Pedra
Branca Platinum Group Element Project (“PGE”, “2PGE+Au”) in northeastern Brazil.
Highlights of the 2020 Drill Program:
• ValOre has started the fully funded Phase 1 drill program at Pedra Branca
• Phase 1 will test seven distinct target areas with 23 core drill holes totaling 2,875 metres
• The Trapia 1 deposit area is the first target being drilled with the goals of resource expansion and
new discoveries
• Phase 2 drill program is planned to test 4 distinct target areas with 24 drill holes totaling 3,035
metres
• The average hole length of 125m for both phases of drilling reflects the shallow nature of Pedra
Branca PGE mineralization
“We have now safely mobilized a drill rig and personnel to our Pedra Branca property. With our previously
announced $1.2 million funding package, we have significantly ramped up our exploration activities at Pedra
Branca and have now started Phase 1 drilling at this highly compelling PGE project,” stated Jim Paterson,
Chairman & CEO. “Our comprehensive review of the extensive Pedra Branca geological database has
identified many high -priority targets to be drill-tested as part of our two -phase drill program, which is
designed to expand the current resources, advance historical targets which host mineralized drill intercepts,
and test undrilled areas.”
2020 Drill Program
ValOre has engaged Brazilian drilling company 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 totaling
2,875 metres. The Phase 2 drill program will test 4 distinct target areas with 24 diamond drill core drill holes
totaling 3,035 metres . Three target classes will be test ed: resource expansion , advancing pre -resource
zones, and new discovery targets.
Please CLICK HERE to see Table 1 and Figure 1 which provide a summary of the 2020 drill program at
Pedra Branca.
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 environ ment 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 2PGE+Au/t”) (see
ValOre’s July 23, 20 19 news release). 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 89,852-
hectare Angilak Property in Nun avut Territory, Canada that hosts the Lac 50 Trend having a NI 43 ‐101
Inferred Resource of 2,831,000 tonnes grading 0.69% U 3O8, totaling 43.3 million pounds U3O8U3O8.
ValOre's. 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
www.valoremetals.com or contac t Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by
email at [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward -looking statements” within the meaning of a pplicable securities laws.
Although ValOre believes that the expectations reflected in its forward -looking statements are reasonable,
such statements have been based on factors and assumptions concerning future events that may prove to
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influence actual results or events and cause actual results or events to d iffer materially from those stated,
anticipated or implied in the forward-looking statements. A number of important factors including those set
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those in forward-looking statements include the future operations of the Company and economic factors.
Readers are cautioned to not place undue relia nce on forward-looking statements. The statements in this
press release are made as of the date of this release and, except as required by applicable law, ValOre
does not undertake any obligation to publicly update or to revise any of the included forward -looking
statements, whether as a result of new information, future events or otherwise. ValOre undertakes no
obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre,
or its financial or operating results or (as applicable), their securities.