ValOre Completes Successful Phase 1 Drill Program at Pedra Branca PGE Project, Brazil
ValOre Completes Successful Phase 1 Drill Program at Pedra Branca PGE Project, Brazil
Vancouver, British Columbia, September 21st, 2023 - ValOre Metals Corp. (“ValOre”; TSX ‐V: VO;
OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported the completion of the 2023 Phase 1
Diamond Drilling Program at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”,
“2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“We are very pleased with the results of the first phase of ValOre’s 2023 exploration program, where we
drilled over 6,150 metres at 8 different zones across the Pedra Branca property. Drilling confirmed the
potential to expand resource zones like Trapia 1 and discover new mineralized zones like Salvador,” stated
Thiago Diniz, Exploration Manager , ValOre Metals Corp. “ The team continues advancing property-wide
resource zones and new targets as we await final assay results over the next 6 weeks.”
Highlights
• 6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones;
• Target ultramafic (“UM”) rocks intercepted in 42 of 49 holes (794 m of UMs);
• 1,625 core samples sent to lab, with assays pending for 806 samples from 16 holes:
• R esource expansion potential confirmed at Trapiá 1, which remains largely open along-strike and
down-plunge;
• Near surface PGE mineralization drilled at the following zones: Galante, Tr óia, Nambi, Massapê,
and Salvador (see Assay Highlights table below).
Table 1: Drilling Totals by Zone
Target Total Drilled
(m) # Holes # Holes w/
UMs
Total UMs
(m)
Core
Samples
Assays
Received
Assays
Pending
Galante 790 11 11 169 384 384 0
Tróia 1,029 9 6 66 188 188 0
Nambi 665 6 6 76 203 185 18
Ipueiras 228 4 3 27 83 0 83
Massapê 380 4 3 18 48 48 0
Cedro 545 2 1 4 14 14 0
Trapiá 1,459 5 5 169 308 0 308
Salvador 1,056 8 7 265 397 0 397
Total 6,152 49 42 794 1,625 819 806
Table 2: Core Assay Highlights (g/t 2PGE+Au)
Target Hole ID From (m) To (m) Length**
(m)
2PGE+Au
(g/t) Summary Interval
Galante
DD23GE01 56.00 56.63 0.63 0.99 0.63 m @ 0.99 g/t 2PGE+Au from 56 m
DD23GE02 10.25 19.30 9.05 0.35 9.05 m @ 0.35 g/t 2PGE+Au from 10.25 m
DD23GE03 31.50 32.35 0.85 0.57 0.85 m @ 0.57 g/t 2PGE+Au from 31.50 m
and 3.02 m @ 0.15 g/t 2PGE+Au from 35 m 35.00 38.02 3.02 0.15
DD23GE04 26.65 56.60 29.95 0.33 29.95 m @ 0.33 g/t 2PGE+Au from 26.65 m
DD23GE05 35.60 48.70 13.10 0.30 13.10 m @ 0.30 g/t 2PGE+Au from 35.60 m
DD23GE06 33.00 35.55 2.55 0.63 2.55 m @ 0.63 g/t 2PGE+Au from 33 m
DD23GE07 15.00 23.60 8.60 3.18 8.60 m @ 3.18 g/t 2PGE+Au from 15 m
incl. 2.10 m @ 5.26 g/t 2PGE+Au from 17.90 m 17.90 20.00 2.10 5.26
DD23GE08 16.70 31.50 14.80 0.15 14.8 m @ 0.15 g/t 2PGE+Au from 16.7 m
DD23GE09 24.55 29.65 5.10 0.49 5.10 m @ 0.49 g/t 2PGE+Au from 24.55 m
DD23GE10
12.20 19.25 7.05 0.16 7.05 m @ 0.16 g/t 2PGE+Au from 12.2 m
incl. 1.05 m @ 0.39 g/t 2PGE+Au from 12.2 m 12.20 13.25 1.05 0.39
DD23GE11
10.60 22.70 12.10 0.25 12.1 m @ 0.25 g/t 2PGE+Au from 10.6 m
and 3.9 m @ 0.43 g/t 2PGE+Au from 43 m
and 4 m @ 0.22 g/t 2PGE+Au from 55 m
and 10.1 m @ 0.6 g/t 2PGE+Au from 75.3 m
43.00 46.90 3.90 0.43
55.00 59.00 4.00 0.22
75.30 85.40 10.10 0.60
Tróia
DD23TR05 22.25 26.83 4.58 0.75 4.58 m @ 0.75 g/t 2PGE+Au from 22.25 m
DD23TR06 23.10 42.90 19.80 0.71 19.8 m @ 0.71 g/t 2PGE+Au from 23.1 m
DD23TR07 31.15 47.50 16.35 1.03 16.35 m @ 1.03 g/t 2PGE+Au from 31.15 m
incl. 2.6 m @ 4.03 g/t 2PGE+Au from 43.25 m 43.25 45.85 2.60 4.03
DD23TR08 22.45 32.95 10.50 0.57 10.5 m @ 0.57 g/t 2PGE+Au from 22.45 m
DD23TR09 52.42 59.43 7.01 1.09 7.01 m @ 1.09 g/t 2PGE+Au from 52.42 m
incl. 3 m @ 1.61 g/t 2PGE+Au from 53.1 m 53.10 56.10 3.00 1.61
DD23TR11 62.00 62.80 0.80 0.17 0.8 m @ 0.17 g/t 2PGE+Au from 62 m
Nambi
DD23NB02 48.64 50.33 1.69 0.56 1.69 m @ 0.56 g/t 2PGE+Au from 48.64 m
DD23NB03 40.00 42.05 2.05 0.22 2.05 m @ 0.22 g/t 2PGE+Au from 40 m
DD23NB04 32.94 56.57 23.63 1.56 23.63 m @ 1.56 g/t 2PGE+Au from 32.94 m
incl. 7.9 m @ 2.80 g/t 2PGE+Au from 42 m 34.10 42.00 7.90 2.80
DD23NB05* 238.44 243.60 5.16 0.23 5.16 m grading 0.23 g/t 2PGE+Au from 238.44 m
DD23NB06* 62.00 66.50 4.50 0.48 4.5 m grading 0.48 g/t 2PGE+Au from 62 m
DD23NB07* 22.80 24.65 1.85 0.43 1.85 m grading 0.43 g/t 2PGE+Au from 22.8 m
Massapê
DD23MS18* 102.95 103.45 0.50 0.20 0.5 m grading 0.20 g/t 2PGE+Au from 102.95 m
DD23MS19* 26.00 33.90 7.90 0.27 7.9 m grading 0.27 g/t 2PGE+Au from 26 m
and 2 m grading 2.50 g/t 2PGE+Au from 56 m 56.00 58.00 2.00 2.50
*New assay results in today’s release.
**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: Salvador target 3D perspective view (looking NW). Total of 8 holes completed along a 400-
metre priority trend, with 7 of 8 holes intercepting a thick package (average ~40- metre zone) of
target ultramafic rocks (core assays pending). Salvador remains open in all directions.
Figure 3: Trapiá 1 Deposit long section (looking NE). Resource expansion potential demonstrated
from the 2023 core drilling , compared with the 2019 and 2022 resource optimized open pits. An
additional 300 metres of chromite-bearing UMs was intercepted along dip (core assays pending).
Figure 4: Massapê Deposit long section (looking W). DD23MS19 intercepted PGE mineralization
350 m outside of the 2022 resource, confirming resource expansion potential.
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 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 (CLICK HERE for news release dated March 24, 2022). ValOre’s team
believes the Pedra Branca project has significant exploration discovery and resource expansion potential.
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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