ValOre Drills Chromite-Bearing Sequence at New Salvador Target and Confirms Resource Expansion Potential at Trapiá 1, Pedra Branca PGE Project, Brazil
ValOre Drills Chromite-Bearing Sequence at New Salvador Target and Confirms Resource
Expansion Potential at Trapiá 1, Pedra Branca PGE Project, Brazil;
Vancouver, British Columbia, September 5 th, 2023 - ValOre Metals Corp. (“ValOre”; TSX ‐V: VO;
OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on the fully funded 2023
core drilling program at ValOre’s 100% -owned Pedra Branca Platinum Group Elements (“PGE”,
“2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
“The 2023 core drilling program has been a great success, with near surface high-grade PGE intercepts in
three distinct exploration targets: Galante, Tróia and Nambi , and a newly drilled sequence of chromite-
bearing peridotite at the Salvador target, for which assays are pending, ” stated ValOre’s Exploration
Manager, Thiago Diniz. “The 75-metre ultramafic intercept in drill hole DD23TU33, situated 150 metres to
the south of the resource envelope at the Trapiá 1 deposit demonstrates the impressive upside potential of
what is already the single largest orebody delineated at ValOre’s property. We look forward to receiving the
remaining assays and expanding the ongoing drill program.”
Highlights To Date:
• Multiple near surface high-grade intercepts at three distinct exploration targets: Galante, Tróia, and
Nambi, including:
o 8.6 meters (“m”) grading 3.18 grams per tonne palladium + platinum + gold (“g/t
2PGE+Au”) from 15 m, including 2.1 m grading 5.26 g/t 2PGE+Au from 17.9 m in drill
hole DD23GE07 at Galante;
o 16.4 m grading 1.03 g/t 2PGE+Au from 31.2 m, including 2.6 m grading 4.03 g/t
2PGE+Au from 43.3 m in drill hole DD23TR07 at Tróia;
o 7.0 m grading 1.09 g/t 2PGE+Au from 52.4 m, including 3 m grading 1.61 g/t 2PGE+Au
from 53.1 m in drill hole DD23TR09 at Tróia;
o 23.6 m grading 1.56 g/t 2PGE+Au from 32.9 m, including 7.9 m grading 2.80 g/t
2PGE+Au from 42 m in drill hole DD23NB04 at Nambi;
• Trapiá 1 resource expansion drilling has confirmed host rock continuity and resource expansion
potential 300 metres along strike at Trapiá 1. Trapiá 1 is the single largest orebody at Pedra Branca,
and is part of the 2022 NI 43-101 inferred resource within the Trapiá region which totals 885,000
oz 2PGE+Au contained in 28.8 Mt grading 0.96 g/t 2PGE+Au:
o DD23TU32, drilled 300-metre to the south-southeast of the current resource, intercepted
a 20-metre thick, magmatic sulfide- bearing ultramafic layer, showing potential for high-
grade PGE and potential for associated base metals mineralization. Assays pending;
o DD23TU33, drilled 150-metre to south-southeast of the current resource intercepted a 75-
metre chromite-rich, and locally sulfide -rich, ultramafic zone, marking a great continuity
with the main resource zone. Assays pending;
• Salvador drilling discovered chromite-bearing peridotite and dunite in a previously untested section
of the Troia trend:
o Four holes drilled to date in the Salvador target, with thick ultramafic horizons intercepted
in all holes (45 to 80 m-thick). Assays pending;
2023 Drill Program Overview
Galante, Tróia and Nambi represent near surface, predominantly undrilled, PGE mineralized targets
advanced through 2022 exploration with the application of ValOre’s proven exploration methodology. These
targets were not included in the 2022 NI 43-101 Resource Estimate (“2022 Resource”). The ongoing 2023
core drilling program commenced in early June and is also serving to test additional two drill-ready pipeline
targets advanced in 2022-2023: Ipueiras and Salvador (Mendes South).
In addition, the resource expansion potential of select PGE deposits included in the 2022 Resource have
been tested in this program, including Massapê, Trapiá 1 and Cedro.
A total of 4 4 diamond drill holes ( “DDHs”) have been completed at Galante, Tróia, Nambi, Ipueiras,
Massapê, Cedro, Trapiá and Salvador, with PGE-bearing ultramafic rocks (“UM”) intersected in 38 holes
drilled to date. Selected intervals from all holes sent to SGS Geosol Laboratórios Ltda. (“SGS Geosol”) in
Vespasiano, Minas Gerais, Brazil with assay results pending for 22 holes from 7 of 8 targets.
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 66 188 155 33
Nambi 665 6 6 76 185 49 136
Ipueiras 228 4 3 27 83 0 83
Massapê 380 4 3 18 48 0 48
Cedro 545 2 1 4 14 0 14
Trapiá* 1,390 5 4 117 159 0 159
Salvador* 491 4 4 218 247 0 247
Total 5,518 45 38 695 1,308 588 720
* Drilling, logging, and sampling in progress.
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 43.00 46.90 3.90 0.43
55.00 59.00 4.00 0.22 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 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
*Reported core assay interval lengths are estimated to represent 90-100% of true width
Newly Discovered Chromite-Bearing Peridotite and Dunite: Salvador Target
ValOre’s exploration methodology helped identify surficial high-grade PGE mineralization along 1.3
kilometres (“km”) of trend, which was subsequently followed up by the excavation of two trenches (86 m)
in the target’s main zone. C hromite-bearing target UMs (80 m) were intercepted in both trenches (assays
pending).
Four 2023 DDHs were designed to test the depth potential of surface PGE mineralization at Salvador
reported herein. Chromite -bearing ultramafic rocks were intercepted in all 4 holes, including c hromitite
reefs, a lithology typically associated with high-grade palladium-platinum values at Pedra Branca. To date,
the mineralized UM package at Salvador is demonstrating significant thickness and continuity at depth and
has warranted additional follow-up core drilling . A fifth drill hole is currently in progress. Assays remain
pending for all 2023 DDHs at Salvador.
• Geological mapping and soil sampling were completed over a strike length of approximately 1.5
km, with total of 157 soil samples and 40 rock samples collected;
• PGE-in-soils values reached up to 1,695 ppb 2PGE+Au (1.695 g/t);
• Rock Assay PGE Highlights include: 23.6 g/t 2PGE+Au (sample 103709) ; 5.2 g/t 2PGE+Au
(sample 103705); and 5.1 g/t 2PGE+Au (sample 103712);
• Total of 70 m drilled in 14 Trado® auger holes, with UMs encountered in 13 of 14 holes (62 m total);
• Trado® auger PGE Highlights include:
o 4 m grading 1.76 g/t 2PGE+Au from 0 m (Trado® hole AD23MES09)
o 7 m grading 1.01 g/t 2PGE+Au from 0 m (Trado® hole AD23MES06)
o 5 m grading 1.18 g/t 2PGE+Au from 0 m (Trado® hole AD23MES05).
Figure 1: Pedra Branca project property map, highlighting location of the 2023 drill targets and
current resource zones.
Figure 2: Trapiá 1 deposit plan map, highlighting location of the 2023 drill holes and surface contour
of the 2022 NI 43-101 Resource Pit.
Figure 3: Trapiá 1 deposit long section 3D view, looking west. Highlights location of the 2023 step-
out drill holes and current resource pit.
Figure 4: Trapiá 1 core photos. A to C sho wing chromitite and chromite-rich peridotites from drill
hole DD23TU33 (75-metre interval); D: Net textured sulfide enrichment in DD23TU33. E and F: Semi
massive to brecciated pyrrhotite and chalcopyrite interval associated with ultramafic rocks in
DD23TU32.
Figure 5: Salvador target plan map, highlighting location of mineralized Trado and rock samples
and 2023 drill holes. First two holes have been drilled from the same drill pad to follow up trench 1
intercept. Third and fourth drill hole s, also drilled from same pad, approximately 120 m to the
northeast along strike, following up Trench 2 UMs intercept.