ValOre Commences Geophysical Survey and Trenching Program; Trado® Auger Drilling Continues, Salvador Target, Pedra Branca PGE Project, Brazil
ValOre Commences Geophysical Survey and Trenching Program;
Trado® Auger Drilling Continues, Salvador Target, Pedra Branca PGE Project, Brazil
Vancouver, British Columbia, August 15th, 2024 - ValOre Metals Corp. (“ValOre”; TSX ‐V: VO;
OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the start of a detailed ground
magnetic and gamma spectrometry geophysical survey and provided an update on exploration work at the
Salvador Target (“Salvador”) area at ValOre’s 100% -owned Pedra Branca Platinum Group Elements
(“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
Thiago Diniz, ValOre’s V.P. of Exploration commented: “Salvador is rapidly becoming one of the main
targets on our Pedra Branca property, but it was previously only covered with a regional scale magnetic
survey. The new geophysical data and interpretation from the detailed ground magnetic and gamma
spectrometry surveys, combined with results from the current Trado® drilling and trenching programs
underway, will help us delineate priority targets for future resource expansion drill programs at Salvador.”
Salvador Trado® Auger Drilling and Trenching Programs
Follow-up Trado® auger drilling and trenching programs are in progress at the Salvador target, aiming at
delineating PGE mineralization along a 600 m trend located north of the area drill -tested in 2023 (CLICK
HERE f or News Release dated July 17, 2024);
Trado® auger drilling has intercepted ultramafic rocks (“UM”) in 14 of 22 Trado® auger holes drilled
to date– see Figure 1);
UM continuity confirmed along the 600 m of mineralized soils trend under investigation;
43 samples have been sent to lab, with initial assay results pending;
Following Trado® auger drilling , a trenching program commenced on August 14th; with
approximately 200 m planned to be excavated in 4 to 6 trenches along the 600 m strike extension
to the north of the area drilled in 2023;
Both the Trado® auger drilling and trenching programs are expected to be finished by the end of
August.
Figure 1: Salvador Plan View Location Map, displaying Trado ® auger drill holes completed to date
and planned trenches.
Salvador Geophysical Program
In addition to the Trado® auger and trenching programs, ValOre engaged GSM Geoscience (“GSM”) to
conduct a detailed ground geophysical survey, consisting of 50 line kilometres (“km”) of ground magnetics
and gamma spectrometry, covering the entire strike-length of the Salvador target and extensions. The field
work, which started on August 14th and is expected to be completed by the end of August, will be followed
by a 3D inversion modeling and structural interpretation.
Geophysical data collection, modeling and interpretation, combined with ongoing geochemical data from
the Trado® and trenching programs underway, will provide us with detailed and key information to determine
priority core drill targets for future resource estimation at Salvador.
About GSM Geoscience
GSM Geoscience is a Brazilian company specializing in geoscience data processing and integration applied
to mineral exploration. Their mission is to add value and enhance geological knowledge from geophysical
data. GSM started its activities in 2015 and has major mining companies operating in Brazil as clients,
being a leading company in geosciences in the country . For more information, please visit
https://gsmgeoscience.com/
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
Vice President of Exploration.
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 45 exploration licenses covering a
total area of 51,096 hectares (126,260 acres) in northeastern Brazil. At Pedra Branca, 7 distinct 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. The Mineral Resource
estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using
geostatistical, plus economic and mining parameters appropriate to the deposit. Mineral Resources, which
are not mineral reserves, do not have demonstrated economic viability, and may be materially affected by
environmental, permitting, legal, marketing, and other relevant issues. Mineral Resources are based upon
a cut-off grade of 0.4 g/t PGE+Au, correlated to Pd_eq grade of 0.35 g/t, and were limited by an economic
pit built in Geovia Whittle 4.3 software and following the geometric and economic parameters as disclosed
in the 2022 NI 43-101 Technical Report,
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 by email 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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This news release contains “forward-looking statements” within the meaning of applicable 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
be inaccurate. These factors and assumptions are based upon currently available information to ValOre.
Such statements are subject to known and unknown risks, uncertainties and other factors that c ould
influence actual results or events and cause actual results or events to differ 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 ValOre and economic factors. Readers
are cautioned to not place undue reliance 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
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or operating results or (as applicable), their securities.