ValOre Provides Update for Angilak Property, Uranium Project, Nunavut 2021 Acquisition of regional WorldView spectral data, re-processing of geophysical and geochemical datasets
ValOre Provides Update for Angilak Property, Uranium Project, Nunavut
2021 Acquisition of regional WorldView spectral data, re-processing of geophysical and
geochemical datasets
Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX ‐V: VO; OTC: KVLQF; Frankfurt: KEQ0 , “the
Company”) today provided an exploration update for ValOre’s 100%-owned Angilak Property Uranium
Project (“Angilak”), located in Nunavut Territory, Canada.
“Angilak represents a world-class advanced uranium exploration project with tremendous upside potential,”
stated ValOre’s Vice President Exploration, Colin Smith. “Hosting one of the world’s highest-grade uranium
resources with favorable metallurgy, and in a vastly-underexplored uranium-rich district, we aim to add
tangible value to future exploration programs through the acquisition and interpretation of WorldView
spectral data , re-processing the substantial geophysical and geochemical datasets, and a subsequent
integrated targeting review for the entire project.”
Angilak Uranium Project Highlights
The 49,619-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory,
Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre
has invested over C$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill
holes), metallurgy, geophysics , geochemistry, and logistics across the large land package. This work
supported the development of the significant Lac 50 Trend NI 43-101 inferred resource estimate (“Lac 50”).
The Lac 50 NI 43- 101 Technical Report (effective date March 1, 2013) defined an inferred resource
estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one
of highest-grade uranium resources on a global basis. Highlights include:
• 43.3 million pounds U3O8 in 2,831,000 tonnes grading 0.69% U3O8. CLICK HERE for a summary
table of the Lac 50 Trend inferred resource estimate;
• Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);
• Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See
news releases: February 28, 2013, September 11, 2013 and February 27, 2014;
• Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and
new discoveries;
• Uranium mineralization starts at surface, and has been drilled to 400 m vertical depth;
• Upside exploration potential includ es 11 pre-resource targets with high -grade uraniferous drill
intercepts on parallel structures outside the current resource area.
The broader Angilak Property represents a district-scale opportunity, with ValOre’s land position covering
55 km of the margin of the highly prospective Angikuni Basin. The planned targeting work in 2021 could
have significant impact on future exploration, discovery, and resource expansion programs.
CLICK HERE for ValOre’s May 6, 2021 video summarizing the highlights of Angilak.
CLICK HERE for ValOre’s May 6, 2021 video reviewing the 2021 focus for Angilak.
Q2 2021 Exploration Plans to Drive Property-Wide Targeting and Future Discoveries
WorldView Spectral Data Acquisition
ValOre is acquiring 466 km2 (46,600 hectares) of new WorldView spectral data and high-spatial resolution
imagery covering 100% of the high-priority targets and prospective basin-margin at the Angilak Property in
Nunavut Territory, Canada. The WorldView -3 (“WV -3”) satellite provides the highest -resolution
commercially available satellite imagery in the world, capturing data to a 50-cm pixel size, with both Visible-
Near-Infrared (“VNIR”) and Short-Wave-Infrared (“SWIR”) spectra. This enables regional spectral mapping
of prospective geology, alteration, and mineralogy at a “ boulder-scale”. The Angilak WorldView data will
augment ValOre’s extensive existing exploration dataset for Angilak , which includes district -wide
geochemistry, geophysics, geological mapping and over 89,000 m of drilling.
Geophysics and Geochemistry
Together with WorldView spectral data acquisition, ValOre is re-processing historical Angilak geophysical
and geochemical datasets. Geophysical surveys to date include district-wide airborne magnetics, airborne
radiometrics, airborne time-domain electromagnetics (“TDEM”), airborne frequency-domain
electromagnetics (“FDEM”), ground very low frequency electromagnetic (“VLF-EM”), ground gravity and
ground seismic. Re-processed geophysical data will provide critical exploration constraints on Lac 50 Trend
resource expansion targets, pre- resource drill-confirmed uranium targets and untested geochemical
anomalies throughout the Angilak Property.
The Angilak geochemical database includes downhole multielement assay data for 589 drill holes, totaling
89,572 metres (463 core holes and 126 RC holes), 897 rock samples, 3,209 conventional soils, 1,539
Enzyme Leach soils and 75 mobile metal ion (“MMI”) soil samples. ValOre’s 2021 focus will include s tate
of the art re-processing of the extensive drill assay database, followed by an integrated targeting review for
the entire district.
The application of W orldView spectral data paired with re -processed geophysical datasets at ValOre’s
100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in northeastern Brazil led to the 2020
drilling discovery at the C-04 target, which graded up to 7.95 grams per tonne palladium + platinum + gold
(“g/t 2PGE+Au”) at surface and returned 2PGE+Au mineralization in three of three 2020 core drill holes .
CLICK HERE for ValOre’s news release dated October 27, 2020.
About WorldView Spectra Data
CLICK HERE for ValOre’s summary of WorldView spectral data, and CLICK HERE for additional
information from DigitalGlobe™ on the Hi-Res WV-3 orbiting system.
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 Colin Smith, P.Geo., ValOre’s VP
Exploration.
About ValOre Metals Corp.
ValOre Metals Co rp. (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 39 exploration licenses covering a total area of 39,987 hectares
(98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate,
a current Inferred Resource 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). All the currently known Pedra Branca inferred
PGE 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 current Inferred Resource of
2,831,000 tonnes grading 0.69% U 3O8, totaling 43.3 million pounds U 3O8. 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 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
valoremetals.com or contact Investor Relations at 604.653.9464, or by email at [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
discoverygroup.ca
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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 could
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anticipated or implied in the forward-looking statements. A number of important factors including those set
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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.