ValOre Provides Update on 2023 Core Drilling Program at Pedra Branca PGE Project, Brazil
ValOre Provides Update on 2023 Core Drilling Program at Pedra Branca PGE Project, Brazil
Vancouver, British Columbia, June 29th, 2023 - ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB:
KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on the fully-funded first phase of
the 2023 core drilling program at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”,
“2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
2023 Drill Program Underway with Two Core Rigs Drilling at Galante Target:
• Fully-funded and permitted 5,000-metre (“m”) core drilling program started in early June;
• Two drill rigs are testing four PGE targets (Galante, Tróia, Nambi and Ipueiras), which were
advanced through 2022 exploration but not included in the 2022 NI 43-101 Resource Estimate;
• Total of 9 diamond drill holes (“DD Hs”) now completed at the northern portion of Galante target,
with PGE hosting ultramafic rocks (“UM”) intersected in 8 holes drilled this year;
• Selected intervals from 8 holes sent to SGS Geosol Laboratórios Ltda. (“SGS Geosol”) in
Vespasiano, Minas Gerais, Brazil with assay results expected in approximately 4 weeks.
“The 2023 core drilling program is off to a great start . We have now met our initial goal of increasing the
Galante target strike length, with target geology intersected in 8 of 9 holes this year , and establishing a
contiguous ultramafic package of over 515 metres in length which is open along strike in both
directions,” stated ValOre’s VP of Exploration, Colin Smith. “Drilling production will now double with the
commencement of a second core rig, as we continue to test 7 kilometres of predominantly undrilled
mineralized trend at Pedra Branca.”
Galante Drill Program PGE Targets
Drilling commenced in early June at the Galante target area, the longest and most prospective undrilled
trend at Pedra Branca, as evidenced by the 3- kilometre-long cumulative palladium-platinum soil anomaly,
multiple high-grade Trado® auger holes and assays from selected rock sampling at surface, in addition to 7
mineralized trenches excavated throughout the trend (Figure 1).
This s pring, nine diamond drill holes have been completed at the northern portion of Galante target.
Selected intervals from 8 holes were sent to SGS Geosol in Vespasiano, Minas Gerais, Brazil.
Both rigs have now commenced drilling a portion of the Galante target located immediately south of the
BR-226 highway to follow -up ValOre 2022 trenches TR22GE06: 19 m grading 0.31 g/t 2PGE+Au
(DD23GE10) and TR22GE07: 90 m grading 0.55 g/t 2PGE+Au incl. 17 m grading 1.17 g/t 2PGE+Au
(DD23GE11).
Ipueiras, Tróia and Nambi also represent drill -ready “pipeline” targets developed in 2022 to be tested this
year (Figure 1). CLICK HERE for a video summary of the exploration and discovery pipeline targets at
Pedra Branca. CLICK HERE for a table which summarizes 2022 exploration results for Galante, Tróia,
Nambi and Ipueiras.
Figure 1: Pedra Branca project property map, highlighting location of the 2023 drill targets and
current resource zones.
Quality Assurance/Quality Control (“QA/QC”)
As part of ValOre’s QA/QC protocol, a total of eight quality control samples are inserted in each batch of
72 samples. These include the insertion of blanks, standards, and duplicates according to a logical
sequence that follows strict industry standards. The eight quality control samples comprise: (i) two coarse
blanks sampled from barren quartz vein outcrops in the area (3% of the batch); (ii) three certified reference
materials (“CRMs”, 4% of the batch) with pre-determined PGE and Au grades produced by CDN Resource
Laboratories; and (iii) four duplicate samples (6% of the batch), including one coarse reject duplicate and
one pulp duplicate (both prepared at SGS laboratory following ValOre’s instructions) and one ¼ core
duplicate, prepared at ValOre’s core logging facility in Capitão Mor. Assay results are systematically
checked upon receipt and a specific batch is accepted if results are in accordance with a QA/QC failure
chart. All samples are sent with an ensured chain of custody to SGS Geosol Laboratórios Ltda., an
accredited mineral analysis laboratory) in Vespasiano, Minas Gerais, Brazil for analysis.
Grading intervals are reported from continuous drill intersections of favorable ultramafic intrusion that return
anomalous 2PGE+Au values throughout, with sample widths averaging 1.0 metres in length throughout the
mineralized zone.
Analytical Procedures, SGS Geosol
Once a core sample consignment is received and verified by SGS Geosol, all core samples undergo density
calculation by water immersion method on the raw samples wrapped in PVC film. The samples are
subsequently prepared for analyses by means of drying, crushing (with 75% passing 3 mm),
homogenization, quartering and pulverizing 250 – 300 g of sample in a 95% steel mill at 150 mesh.
Multielement analyses is then performed by Sodium Peroxide Fusion followed by a multielement combined
ICP-OES and ICP- MS s can for base metals, trace, and lithological elements. Chromium values that
exceeded 5% are redirected to ore- grade pyrosulfate fusion and XRF techniques to determine %Cr 2O3.
Samples are then analyzed for 2PGE+Gold (Pd, Pt, Au) content using standard Fire Assay techniques.
Certified PGE ore reference standards, blanks and field duplicates are inserted as a part of the laboratory
QA/QC protocol.
SGS Geosol is an accredited mineral analysis laboratory founded in Brazil from a joint venture between
SGS do Brasil and Geosol Geologia e Sondagens. It concentrates its activities on geochemical analysis of
soils, rocks, ores, concentrates and metallurgical tests, as well as environmental analyzes of water,
effluents, and industrial waste.
SGS Geosol is internationally recognized by its extensive experience throughout industry, with technical
teams formed by highly qualified professionals. SGS Geosol’s Integrated Management System ensures an
excellent level of quality, safety, occupational health, respect for the environment and social responsibility.
The lab is Certified ISO 9001, which provides quality services in analytical chemistry, in compliance with all
applicable environmental requirements, and so it is also certified ISO 14001. SGS Geosol has advanced
laboratories and the latest technological equipment, which enables its supply of analytical services with
security and excellent quality control.
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 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 (CLICK HERE for news release dated March 24, 2022). ValOre’s team
believes the Pedra Branca project has significant exploration discovery and resource expansion potential.
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 [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please
visit: http://www.discoverygroup.ca/
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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,
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