ValOre RC Drilling Confirms Mineralized Uranium Envelope at J4 West Target
ValOre RC Drilling Confirms Mineralized Uranium Envelope at J4 West Target
Vancouver, B.C., ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the
Company”) today reported assays for J4 West (“J4W”) and Yat (“Yat”) targets Reverse Circulation (‘RC”)
drilling at ValOre’s 100% owned 68,552-hectare Angilak Property Uranium Project (“Angilak”), located in
Nunavut Territory, Canada.
“Results from 2022 RC drilling confirm J4 West as a uraniferous structure, with all four sampled holes
returning near-surface U3O8 mineralization, and two of the four holes with assay intervals above the Lac 50
resource cut-off grade,” stated ValOre’s VP of Exploration, Colin Smith. “J4 West remains fully open at
depth, and along strike to the west, with the target conductor extending for an additional 800 m along strike
towards the Eastern Extension of Lac 50. Assays remain pending for ten core holes, totaling 926 m of
follow-up drilling.”
Highlights from J4 West and Yat RC Drilling:
J4 West 2022 Highlights
• All four sampled RC drill holes from J4 West returned near -surface (35 to 65 metres vertical depth)
uranium mineralization over a strike length of 200 metres, including the following highlights:
o 3.1 metres (“m”) @ 0.21% U3O8 and 10.6 g/t Ag from 50.3 m in drill hole RC22-J4W-001
o 1.5 m @ 0.38% U3O8 and 15.1 g/t Ag from 57.9 m in drill hole RC22-J4W-002;
• M ineralization at J4W remains open at depth and along strike to the west , with highlights from the
2013 drilling (located immediately west of 2022 J4W drilling):
o 0.30 m @ 1.06% U3O8 in drill hole 13-J1-002
o 0.60 m @ 0.56% U3O8, 0.28% Mo and 15.5 g/t Ag in drill hole 13-J1-003;
2022 Yat RC Drilling
• Three of four RC drill holes at Yat returned broad near -surface intervals of copper, silver and local
uranium mineralization, including:
o 63.8 m @ 0.11% Cu and 3.2 g/t Ag from 1.5 m in drill hole RC22-YAT-004
o 42.6 m @ 0.15% Cu and 4.3 g/t Ag from 1.5 m, including 4.6 m @ 1.1% Cu and 20.8 g/t Ag
from 1.5 m in drill hole RC22-YAT-003
o 33.4 m @, 0.15% Cu and 4.4 g/t Ag from 6.1 m in drill hole RC22-YAT-002;
• 1.5-kilometre-long uranium soil anomaly which is coincident with a stron g 6.5-kilometre-long VLF-
EM conductor is only drill-tested over 130 m of strike, and remains open to the southwest.
2022 RC Drilling, J4 West Target
J4 West mineralization style, geology and alteration assemblage is analogous to Lac 50 deposits,
supporting an off-set mineralized extension 500 m to the southwest of the J4 resource zone. A total of 642
m of RC drilling was completed in six holes at J4W (formerly known as J1) in 2022. Drilling targeted an
interpreted sinistral off-set and suspected continuation to the southwest of the high-grade western J4 Zone.
For additional information on the J4W target, CLICK HERE for news release dated November 29, 2021,
and CLICK HERE for news release dated June 15, 2022.
The six 2022 RC holes were drilled from three pads spaced 200 m apart, with two holes per pad angled at
-45° and -65° to the north-northwest, testing a strike length of 400 m in between the area of previous drilling
and the sinistral structure to the east (Figure 1). All four holes from the central and western pads (RC22-
J4W-001 to RC22-J4W-004) intercepted near-surface uranium mineralization, including two holes (RC22-
J4W-001 to RC22-J4W-002) with U3O8 intervals above the Lac 50 Trend resource cut -off grade of 0.20%
U3O8 (Table 1). Mineralization occurs as a sheared interval of hematite-altered, graphitic and sulfidic tuff
within a host sequence of foliated basalt and gabbro, analogous to the lithological units hosting
mineralization at the Lac 50 Trend resource.
Two RC holes drilled from the eastern pad at J4W did not encounter anomalous scintillometer counts per
second (“CPS”) values, and thus were not sampled.
Ten core holes totaling 926 m were subsequently drilled in 2022, testing the along- strike continuity of
radioactive intercepts drilled in the 2022 RC program . All core drill holes encountered anomalous
radioactivity (>350 CPS), with a highlight of 15,821 CPS at 149 m vertical depth in drill hole 22- J4W-003.
All assays remain pending.
2022 RC Drilling, Yat Target
A total of 383 m of RC drilling was completed in four holes from two pads at Yat in 2022, with holes drilled
at -45° and -65° to the southeast. Drilling targeted at-depth extensions to high-grade precious metals (Pd-
Pt-Au-Ag) and uranium values returned from 2016 trench channel sampling and frost heaved boulder
assays. For additional information on the Yat target, CLICK HERE for news release dated June 2, 2022,
and CLICK HERE for news release dated November 8, 2016.
Three of the four 2022 RC drill holes at Yat encountered broad (33.4 to 63.8 m wide), near-surface intervals
of copper and silver mineralization, with localized anomalous uranium (Table 1). High-grade polymetallic
mineralization that was encountered in 2016 trenching was not intersected by 2022 RC drilling and is
interpreted to be restricted to centimetre-scale discontinuous veins and stringers hosted within 1.0 to 1.5 m
wide structural zones in sandstone, conglomerate and Christopher Island volcanics of the Proterozoic
Angikuni Basin.
The Yat target remains a priority Lac 50 style target at Angilak that warrants further exploration. 2022 ground
VLF-EM geophysics defined a strong 6.5-kilometre-long extension to the primary Yat conductor, which is
only drill -tested over 130 m of strike. This prospective structure is coincident with a 1.5 -kilometre-long
uranium soil anomaly which remains open along strike to the southwest (Figure 2).
Table 1: 2022 J4 West and Yat RC Drilling Assays
Target Drill Hole From
(m)
To
(m)
Interval
(m)
U3O8
(%)
Ag
(g/t)
Mo
(%)
Cu
(%) Interval Summary
J4 West RC22-J4W-001 50.3 53.3 3.1 0.21 10.6 0.10 0.01 3.1 m @ 0.21 %U3O8 and 10.6 g/t Ag from 50.3 m
J4 West RC22-J4W-002 57.9 59.4 1.5 0.38 15.1 0.08 0.05 1.5 m @ 0.38 %U3O8 and 15.1 g/t Ag from 57.9 m
J4 West RC22-J4W-003 56.4 57.9 1.5 0.12 3.2 0.06 0.02 1.5 m @ 0.12 %U3O8 and 3.2 g/t Ag from 56.4 m
J4 West RC22-J4W-004 73.2 74.7 1.5 0.05 14.8 0.1 0.05 1.5 m @ 0.05 %U3O8 and 14.8 g/t Ag and 0.10% Mo from 73.2 m
Yat RC22-YAT-002 6.1 39.6 33.4 0.01 4.4 0.01 0.15 33.4 m @ 0.01% U3O8, 4.4 g/t Ag, and 0.15% Cu from 6.1 m
Yat includes 30.5 32.0 1.5 0.10 31.0 0.00 0.43 1.5 m @ 0.10% U3O8, 31.0 g/t Ag, and 0.43% Cu from 30.5 m
Yat RC22-YAT-003 1.5 44.2 42.6 0.00 4.3 0.01 0.15 42.6 m @ 4.3 g/t Ag, and 0.15% Cu from 1.5 m
Yat includes 1.5 6.1 4.6 0.00 20.8 0.00 1.10 4.6 m @ 20.8 g/t Ag, and 1.10% Cu from 1.5 m
Yat RC22-YAT-004 1.5 65.5 63.8 0.00 3.2 0.01 0.11 63.8 m @ 3.2 g/t Ag, and 0.11% Cu from 1.5 m
Yat includes 33.5 38.1 4.6 0.02 6.1 0.01 0.66 4.6 m @ 0.02% U3O8, 6.1 g/t Ag, and 0.66% Cu from 33.5 m
Notes:
• RC samples <5,000 CPS outside the plastic pails were submitted to ALS Laboratory (“ALS”) in North Vancouver, British Columbia, for assay
via ME-MS61U (4A multi-element ICP-MS + uranium), U-XRF10 (ore grade U assay, 0.01% -15% U) and Au -ICP21. Uranium assays are
reported by ALS in parts per million (“ppm”) and converted to %U3O8 using the following formula: U3O8 (%) = U (ppm) x 0.01179%.
• RC samples >5,000 CPS outside the plastic pails were placed in steel pails and submitted to Saskatchewan Research Council Geoanalytical
Laboratories (“SRC”) in Saskatoon, Saskatchewan, for assay via ICP1, ICP2, and U3O8. ICP1 results >1,000 ppm U are subjected to SRC
%U3O8 assay; ICP1 results for Cu, Mo and Ag are reported by SRC in parts per million (ppm). 1 ppm = 1 g/t, 10,000 ppm = 1%.
• All "From", "To" and "Interval" measurements are metres down-hole. True widths are yet to be determined.
Figure 1: Plan map of J4 West target
Figure 2: Plan map of Yat target
Quality Control/Quality Assurance (“QA/QC”)
ValOre’s QA/QC procedure for RC drill logging and sampling includes the systematic insertion of blanks,
standards, and duplicates in the field, alternating on every 20th sample, in addition to in- house laboratory
QA/QC protocol which includes blanks analysed every 49 samples and a repeat analysis on every 10 th
sample. All QA/QC results associated with the assays reported herein are within expectation.
RC drilling samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories
(“SRC”) and ALS Geochemistry (“ALS”) for assay. The SRC facility operates in accordance with ISO/IEC
17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration
laboratories and is accredited by the Standards Council of Canada. For more information about SRC,
CLICK HERE.
About Angilak
The 68,552-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 AD$65 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 inferred uranium resource estimate (“Lac 50”).
The Lac 5 0 NI 43- 101 Technical Report (effective date March 1, 2013) defined an inferred resource
estimate which represents the highest-grade uranium resource over 20 million pounds U 3O8 outside of
Saskatchewan. Highlights include:
• 43.3 M lbs 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 380 m vertical depth;
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 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 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). All the currently known Pedra Branca
inferred PGE resources have reasonable prospect of eventual economic extraction via open pit methods.
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 U3O8. For disclosure related to the
inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release
dated 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 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/
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