ValOre Provides Exploration Update for Pedra Branca PGE Project and Initiates Metallurgical Testwork
ValOre Provides Exploration Update for Pedra Branca PGE Project and Initiates Metallurgical
Testwork
June 17, 2020
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX‐V: VO; OTCQX: KVLQF; FRANKFURT: KEQ0)
today announced results from 54 grab samples, provided an update on the Mendes North geochemical
sampling program, and commenced the initiation of a metallurgical testwork program for ValOre’s 100%-
owned Pedra Branca Platinum Group Element s Project (“PGE”), located near the community of Capitão
Mór in northeastern Brazil.
Key Updates on ValOre’s 2020 Pedra Branca PGE Exploration Program:
• “2PGE+Au” (being palladium (Pd), platinum (Pt) and gold (Au)) assay results have been received
for 54 property-wide rock samples, with the highest grade sample exceeding 26 g 2PGE+Au/t, 4
samples >10 g 2PGE+Au/t , 6 samples ranging from 5 -10 g 2PGE+Au/t, and an additional 27
samples returning anomalous 2PGE+Au grades;
• 598 soil samples from the Mendes North geochemical program have been received by the lab with
analytical results expected within 2 weeks;
• SGS Lakefield, Ontario will be conducting metallurgical testing on select mineralized samples from
43-101 deposit areas at Pedra Branca, testing the amenability of Falcon UF gravity separation and
PLATSOL™ leaching.
“Our team continues to demonstrate the widespread and high- grade mineralization at ValOre’s 100%
owned Pedra Branca PGE project,” stated Jim Paterson, Chairman & CEO. “ In combination with the
planned drill program, the initiation of met allurgical test work will greatly increase our understanding and
help us accelerate the advancement of this exciting project.”
Property-Wide Grab Sample Results
Assay results for 54 rock samples collected from property-wide exploration targets and resource areas have
been received. A total of 37 samples returned anomalous 2PGE+Au grades, with a peak grade of 26.66 g
2PGE+Au/t from a grab sample in the Trapia West deposit area.
Multiple high -grade rock samples were collected from widely spaced exploration targets spanning the
project, including Trapia 1 North, Massapê, and Esbarro West. In addition, several target areas slated for
2020 core drilling returned strong 2PGE+Au results, including Esbarro East, Cana Brava and Santo Amaro.
See Table 1 below for a summary of 2PGE+Au results, CLICK HERE for the full list of assays, and CLICK
HERE to view all figures related to this news release.
Table 1: Summary of Grab Sample 2PGE+Au Assays
2PGE+Au Range Number of Samples
>10 g/t 4
5.0 - 10 g/t 6
*1.22 - 5.0 g/t 12
0.03-1.22* g/t 15
barren 16
*1.22 is the average 43-101 resource grade – See ValOre news release July 23, 2019
Selective rock grab samples were collected from field sites with coordinate data captured by handheld GPS
and subsequently stored in a secure ValOre facility in Capitão Mór, Ceará, Brazil. The samples were sent
with an ensured chain of custody to SGS Geosol Laboratórios Ltda. (“SGS Geosol”, an accredited mineral
analysis laboratory ) in Vespasiano, Minas Gerais , Brazil for analysis. All samples were analyzed for
2PGE+Gold (Pd, Pt , Au) content using standard Fire Assay and ICP techniques. C hromium values that
exceeded 5% were redirected to ore-grade pyrosulfate fusion and XRF techniques to determine %Cr2O3.
Certified PGM ore reference standards, blanks and field duplicates were inserted as a part of ValOre’s
Quality Control/Quality Assurance program (QA /QC). No QA /QC issues were noted with the results
reported herein.
Mendes North Geochemical Program Update
All 598 soil samples from the three >1km Mendes North WorldView-magnetic anomaly targets have been
received by SGS Geosol and assaying has commenced. Analytical results are expected within 2 weeks.
Soil samples were collected from field sites spaced 20 metres apart on lines spaced 100 metres apart, with
coordinate data captured by handheld GPS. These samples were subsequently stored in a secure ValOre
facility in Capitão Mor, Ceará, Brazil and thereafter sent with an ensured chain of custody to SGS Geosol.
All samples are being analyzed for 2PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and ICP-
AES techniques. Certified PGE ore reference standards, blanks and field duplicates are inserted as a part
of ValOre’s Quality Control/Quality Assurance program (“QA/QC”).
Upcoming Metallurgical Test Work Program Initiated
ValOre has engaged SGS Canada Inc. of Lakefield, Ontario to conduct preliminary metallurgical test s on
mineralized samples from designated 43-101 deposit areas. Falcon UF gravity separation test work will be
performed to characterize the metallurgical balance relating PGE mass recoveries. In addition, PLATSOL™
leaching will be tested to follow up and corroborate previous findings of this metallurgical processing
technique. Further information about PLATSOL™ and Falcon UF can be found in the links below:
PLATSOL™: https://www.sgs.ca/en/mining/metallurgy-and-process-design/unit-operations-
and-metallurgical-services/pressure-and-ambient-leaching/platsol
Falcon UF: https://minerals.seprosystems.com/equipment/falcon-uf-gravity-concentrators/
Sampling of historical mineralized drill core from the Esbarro and Curiu deposits, and outcrop sampling of
the Curiu and Trapia West deposits is now complete, and samples have been shipped for preliminary
analytical work to the SGS facility Vespasiano, Minas Gerais prior to shipment to SGS Canada.
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.
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 Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au)
contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see
ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred
resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-
hectare 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 43.3 million pounds U 3O8. For
disclosure related to the inferred resource of ValOre's 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 sector 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 building shareholder value while adhering to high levels of environmental and safety
standards and proactive local community engagement.
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 toll fr ee at 1.888.331.2269, at 604.646.4527, or by
email at [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
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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
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Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this
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does not undertake any obligation to publicly update or to revise any of the included forward- looking
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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.