ValOre Expands PGE Mineralization at Pedra Branca with Step-Out Drilling; Intersects 9.49 g/t 2PGE+Au over 2.45 metres
ValOre Expands PGE Mineralization at Pedra Branca with Step-Out Drilling; Intersects 9.49 g/t
2PGE+Au over 2.45 metres
August 31, 2020
Vancouver, B.C. ValOre Metals Corp. ("ValOre" ; the “Company” ; TSX ‐V: VO; OTC: KVLQF;
FRANKFURT: KEQ0) today announced assay results from the ongoing Phase 1 core drill program at
ValOre’s 100%-owned Pedra Branca Platinum Group Element s Project in northeastern Brazil . Assay
results for the final three of five holes drilled at the Trapia 1 target are reported herein.
Highlights from ValOre’s Initial Drilling at Trapia 1:
• Drill hole DD20TU13
o Successfully expands Trapia 1 mineralization with 140 metre step-out along strike to the south
o 9.49 g/t 2PGE+Au (Palladium, Platinum and Gold; Pd, Pt+Au) over 2.45 metres (m) within a
broad mineralized ultramafic (“ UM”) unit 0. 76 g/t 2PGE+Au over 61.85 m from 217.50 m
downhole;
• Drill hole DD20TU14
o Extends the down-dip mineralization at Trapia 1 in the northern portion of the resource area,
and shows a thickening of the mineralized body at depth;
o 1.27 g/t 2PGE+Au over 5.00 m, within a broader interval of 0.6 0 g/t 2PGE+Au over 21.55 m
from 118.80 m downhole;
• Initial drill results indicate that the large 3D magnetic inversion target extending approximately 1
kilometre from the Trapia 1 resource represents an intact and mineralized intrusion;
• Mineralization remains open in all directions, with multiple drill holes planned for immediate follow-up;
• Trapia 1 orebody has been shown to be thickening with depth across the entire width of the resource,
and remains thick (61.85 m) in newly drilled areas south of the resource
ValOre’s Chairman and CEO, Jim Paterson, stated: “ Our Phase 1 drilling has successfully identified near
surface mineralization in the southern portion of the current Trapia 1 resource area; extended and thickened
the easterly down-dip mineralization across the full width of the resource; and proven that the mineralized
ultramafic intrusion remains intact and open to expansion along a 1 kilometre geophysical target to the
south. We plan to return to Trapia 1 near the end of Phase 1 due to the considerable resource ex pansion
potential.”
Trapia Target Area and the 2019 NI 43-101 Resource
Trapia represents one of the five currently known PGE deposit areas which host NI 43 -101 resources at
Pedra Branca. ValOre reported a NI 43-101 inferred resource estimate for Pedra Branca in August, 2019,
which totalled 1,067,000 ounces 2 PGE+Au contained in 27. 2 million tonnes (“Mt”) grading 1.22 g /t
2PGE+Au. PGE mineralization for all five of the resource deposit areas outcrops at surface, making these
inferred resources prospective for open pit mining. Figure 1, shows the location of the five NI 43-101 deposit
areas and ValOre’s proposed 2020 drill holes.
The Trapia resource is comprised of three separate deposit areas within a 2 -kilometre radius: Trapia 1 ,
Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia resource
of 219,000 ounces at 1.1 g/t 2PGE+Au (6.2 Mt) . Figure 2 shows the location of the Trapia target areas
(Trapia 1, Trapia 2 and Trapia West), proposed and drilled 2020 drill holes, and prospective 3D magnetic
inversion drill targets.
Trapia 1 was selected for Phase 1 of the 2020 drill program on the merits of its strong resource expansion
potential and high prospectivity along strike to the south , which correlates with a 3D mag netic inversion
target extending approximately 1 kilometre from the currently defined resource. A total of 900 metres were
drilled in five drill holes, testing both the PGE mineralization open at depth to the east and the 3D magnetic
inversion target. Table 1 and Figure 3 present a summary of 2020 Phase 1 drilling at Trapia 1.
Figure 3: Trapia 1 Target with Location of 2020 Drill Holes, Resource and 3D Mag Inversion Target
Trapia 1 2020 Drilling Results
Ultramafic rocks were intercepted in all five drill holes at Trapia 1 (DD20TU10 to DD20TU14), with four of
the five holes returning strong 2PGE+Au assay results. Drill hole DD20TU13 successfully expanded Trapia
1 mineralization by stepping out 140 metres along strike to the south along a 1 kilometre long 3D magnetic
inversion target. This drill hole was also critically important in validating a robust geological and structural
model for the southern resource expansion target , demonstrating a ~50 metre down -stepping of the
mineralized intrusion. In addition, drill hole DD20TU14 targeted the down-dip extension of mineralization in
the northern Trapia 1 resource area, and successfully doubled the thickness of mineralized intrusion from
the most proximal up -dip historical drill hole, D D09TU08. See Figure 4 for cross sections through all five
Phase 1 drill holes at the Trapia 1 target area.
DD20TU13 targeted the southerly strike extension of Trapia 1 mineralization along the kilometre-scale long
3D magnetic inversion target, 140 metres s outh of the nearest mineralized intercept, DD20TU12 . ValOre
geologists identified an Ultramafic “Marker” Horizon in the upper sections of historical Trapia 1 resource
holes to the north, as well as in DD20TU12 (from 31.95 to 36.85 metres) and DD20TU14 (fro m 121.00 to
140.35 metres). This stratigraphically significant marker unit was also encountered in DD20TU12; however,
the anticipated target depth was encountered approximately 50 metres deeper down hole than expected.
As such, it was interpreted that the entire, intact geological package associated with the Trapia 1 resource
to the north had also been stepped down 50 metres. DD20TU13 was accordingly extended past the original
planned length, and intersected 61.85 metres of mineralized ultramafic intrusion, grading 0.76 g/t 2PGE+Au
from 217.15 m downhole, including 9.49 g/t 2PGE+ Au over 2.45 metres from 221.20 m. The down-stepped
structural and geological model for the target area south of the resource was substantiated by the intercept
in DD20TU13, which transected a stratigraphically -intact, mineralized, Trapia 1 resource -associated
orebody that was approximately 50 metres deeper than the anticipated target depth.
The implications of this geological model are significant for DD20TU11, which aimed to target mineralization
immediately south of the Trapia 1 resource, 140 m northwest of DD20TU13, and within the same 1 kilometer
long magnetic target. The drilling and analysis of DD20TU11 preceded the now validated down-stepped
structural model, and consequently, it is believed that DD20TU11 (the only Phase 1 Trapia 1 drill hole which
lacked grade) was stopped short of the target intrusion, and thus remains open to a mineralized intercept
at depth.
DD20TU14 targeted the down-dip extension of mineralization in the northern Trapia 1 resource area, and
successfully doubled the thickness of mineralized intrusion from the proximal up -dip historical drill hole,
DD09TU08. DD20TU14 returned 0.60 g/t 2PGE+Au over 21.55 m from 118.80 m downhole, including 1.27
g/t 2PGE+Au over 5.00 m from 132.00 m . For comparison, t he up -dip, historical resource drill hole,
DD09TU08, intercepted 0.83 g/t 2PGE+Au over 11.30 m. PGE mineralization remains open at depth.
Trapia 1 PGE mineralization remains open down-dip to the east, up-dip to the west along the isoshell, and
along strike to the north and south, with multiple drill holes planned for immediate follow -up. 3D magnetic
inversion target extending ~1 kilometre from Trapia 1 resource was shown in DD20TU13 to represent an
intact, mineralized, down -stepped resource -associated intrusion, previously undrilled and untested.
Consequently, DD20TU11 represents a high -priority hole to re -enter and extend, with the 50 -metre
stepped-down.
In summary, Phase 1 drilling at Trapia 1 has effectively brought mineralization to surface in the southern
resource area, extended and thickened the easterly down -dip mineralization across th e full width of the
resource that remains fully open at depth, and proven that the mineralized ultramafic intrusion remains
stratigraphically intact and wide open to expansion at least 140 metres to the south of DD20TU12, within a
highly-prospective 1 kilo metre long 3D magnetic inversion target. High -priority follow up drill holes have
been planned for immediate execution at the end of Phase 1, including stepping further out along strike
from DD20TU13, along the 1 kilometer long magnetic target, stepping we st of DD20TU13 to target a
shallower 2PGE+Au intercept, re -entering and extending DD20TU11 to depth (as directed by the down -
stepped model), and further extending the resource mineralization down-dip.
Table 2: Summary of Significant Core Assay Results from DD20TU13 and DD20TU14
Drill Hole Depth From (m) Depth To (m) Interval (m)* 2PGE+Au (g/t)
DD20TU13 217.05 279.00 61.85 0.76
Including 221.20 223.65 2.45 9.49
DD20TU14 118.80 140.35 21.55 0.60
Including 132.00 137.00 5.00 1.27
* Reported assay intervals are estimated to be 90-100% true width
Figure 4: Cross Section Summary of Phase 1 Drilling at Trapia 1
Pedra Branca 2020 Drill Program
Please see ValOre’s news release from August 25, 2020 for detailed information regarding:
Pedra Branca 2020 Drill Program (Phase 1 and Phase 2)
Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting
Analytical Procedures, SGS Geosol
About Servitec Foraco Sondagem SA
ValOre and Servitec Foraco COVID-19 Protocols
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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 Reso urce of 1,067,000 ounces 2PGE+ Au contained in 27.2 million tonnes grading
1.22 g/t 2PGE+Au (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and
all of the currently known inferred resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak
Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43 ‐101 Inferred Resource
of 2,831,000 tonnes grading 0.69% U3O8, totaling 4 3.3 million pounds U 3O8. 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 sect or 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 buildi ng shareholder value while adhering to high levels of environmental and safety
standards and proactive local community engagement.
Qualified Person
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 Colin Smith, P.Geo., who oversees New
Project Review for ValOre.
On behalf of the Board of Directors,
"Jim Paterson"
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Met als Corp. or this news release, please visit our website at
valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at
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discoverygroup.ca
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