ValOre Provides Corporate and Project Update;
ValOre Provides Corporate and Project Update;
Vancouver, British Columbia, May 15th, 2024 - ValOre Metals Corp. (“ValOre”; TSX ‐V: VO; OTCQB:
KVLQF; Frankfurt: KEQ0, “the Company”) today provided a corporate and project update.
Thiago Diniz Appointed Vice President, Exploration
Thiago Diniz, P.Geo. has significant experience as an exploration geologist in Brazil and Canada, including
work on early to advanced-stage Platinum Group Element (“PGE”), orogenic and magmatic hydrothermal
gold and gold-copper systems, sediment-hosted zinc-lead, phosphate, and potash projects. His expertise
in the planning and management of large- scale programs, including data review, mapping & sampling,
exploratory & resource delineation drill campaigns, and metallurgical testwork programs have provided
valuable input to ValOre’s Pedra Branca Project over the last four years.
Mr. Diniz is a registered P.Geo in Ontario and Saskatchewan, with a B.Sc. Geology (Federal University of
Minas Gerais), and a M.Sc. Economic Geology (Queens University).
Jim Paterson, Chairman & CEO, stated: “We are very happy to announce Thiago’s appointment as V.P.
Exploration. He has been successfully managing ValOre’s Pedra Branca PGE Project in Brazil for 4 years,
excelling in the planning, budgeting, and program execution, which resulted in several discoveries, including
Salvador, and a doubling of the inferred resource at Pedra Branca. Importantly, Thiago has gained the
respect of ValOre’s in- country team and our board of directors and has built an exceptional level of trust
with the local community of Capitao Mor and the Pedra Branca region.
On behalf of all ValOre team members, I would like to wish Colin Smith great success as he moves on to
serve as the CEO of an exciting gold exploration company. We thank Colin for his many years of excellent
work at ValOre and the great friendships formed along the way.”
Pedra Branca Project Update
ValOre continues to prioritize project exploration and advancement efforts on the Pedra Branca PGE
deposits that exhibit the potential for the shortest development timeline with the highest operating margin.
Key aspects of focus to achieve these goals, include:
⋅ grade and metallurgical characteristics of PGE mineralization;
⋅ depth and orientation of deposits and related strip ratio of the optimized resource pits;
⋅ proximity of deposits to one another and to the proposed location of future on-site processing
facilities;
⋅ Social Licence, local employment, infrastructure and water availability.
The Curiu, Esbarro, Cedro, Cana Brava and Salvador PGE deposits are now ValOre’s top priority areas of
focus.
⋅ Curiu, Esbarro, Cedro and Cana Brava host, in aggregate, a 2022 NI 43 -101 inferred mineral
resource estimate of 1.031 million ounces (“Moz”) palladium + platinum + gold (“2PGE+Au”) in 27.2
million tonnes (“Mt”)*;
⋅ These four deposits are located within a 3-kilometre (“km”) radius;
⋅ Average resource strip ratio for these 4 deposit areas is approximately 2.1:1 waste to ore*;
⋅ Curiu and Esbarro collectively average a resource strip ratio of approximately 0.7:1 waste to ore*;
⋅ Maximum vertical depth of the mineralization drilled to form resource pits at these 4 deposits is
approximately 150 metres*;
⋅ The recently discovered Salvador target is located within 5km from those resource zone and
highlights significant potential for high grade PGE shallow resources and improved economics in
the surrounding area (CLICK HERE for news release dated November 7, 2023 and HERE for news
release dated December 11, 2023 and references therein).
Planned 2024/2025 Tasks/Actions include:
⋅ Advanced metallurgical studies to define processing flowsheets;
⋅ Complete a marketability study for Pedra Branca PGE-enriched concentrate;
⋅ Complete additional exploration and deposit definition drilling at Salvador target;
⋅ Updated NI 43-101 Technical Report disclosing a mineral resource estimate update, including
reclassification of certain zones into the “indicated category” subject to an increased level of
confidence in metallurgical recoveries and drill hole spacing;
⋅ Complete a preliminary economic assessment (“PEA”) report, including CAPEX and OPEX
optimization;
⋅ Commence permitting processes and environmental impact assessment (“EIA”);
⋅ Define timeline to production.
Exploration Upside:
⋅ 3 additional resource zones, Trapiá, Massapê and Santo Amaro, host, in aggregate, an inferred
mineral resource estimate of 1.167 Moz 2PGE+Au in 36.4 Mt*;
⋅ The recently completed 2023 drill program confirmed the potential for Pedra Branca resource
expansion, with PGE mineralization drilled in Galante, Troia, Nambi and Ipueiras (CLICK HERE for
news release dated September 21, 2023);
Significant additional discovery potential along more than 80 km of Pedra Branca’s prospective ,
underexplored, property-wide PGE trend.
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 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. 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 at 604.653.9464, or by email at
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
http://www.discoverygroup.ca/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
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 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
forth in other public filings could cause actual outcomes and results to differ materially from those expressed
in these forward -looking statements. Factors that could cause the actual results to differ materially from
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
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.