ValOre Reports Near-Surface High-Grade PGE Mineralization in Three Additional Drill Holes at Salvador Discovery, Pedra Branca Project; 46.05 m at 1.96 g/t 2PGE+Au from 77.15 m, including 10 m at 5.02 g/t 2PGE+Au
ValOre Reports Near-Surface High-Grade PGE Mineralization in Three Additional Drill Holes at
Salvador Discovery, Pedra Branca Project;
46.05 m at 1.96 g/t 2PGE+Au from 77.15 m, including 10 m at 5.02 g/t 2PGE+Au
Vancouver, British Columbia, October 17th, 2023 - ValOre Metals Corp. (“ValOre”; TSX ‐V: VO;
OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported assay results from the Salvador
Target (“Salvador”) as part of the 2023 Phase 1 drill program at ValOre’s 100% -owned Pedra Branca
Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil .
“PGE assays from all four core holes received to date at Salvador confirm consistent , near-surface, high-
grade PGE mineralization at this new discovery,” stated Thiago Diniz, Exploration Manager, ValOre Metals
Corp. “ The evolution of Salvador from concept to discovery demonstrates ValOre’s proven exploration
methodology and the team’s ability to identify and advance significant resource targets property-wide. We
look forward to continuing to grow Salvador through drilling for potential inclusion in our next mineral
resource update.”
Salvador PGE Target Highlights
• A ssay results received for three additional core holes drilled at Salvador include:
o 46.05 metres (“m”) at 1.96 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”)
with mineralization starting from (“from”) 77.15 m , including 10 m at 5.02 g/t 2PGE+Au
from 88.65 m in drill hole DD23MES04;
o 49.6 m at 1.25 g/t 2PGE+Au from 47.2 m, including 15.8 m at 2.22 g/t 2PGE+Au from 55.2
m in drill hole DD23MES03;
o 78.95 m at 0.96 g/t 2PGE+Au from 64 m, including 41.5 m at 1.34 g/t 2PGE+Au from 64.5
m in drill hole DD23MES02;
• A total of 1,056 m were drilled in 8 holes, with target ultramafic (“UM”) rocks intersected in 7 of those
holes. Assays are pending for the remaining 3 of 7 UM- bearing holes, spanning 400 m of strike within
a 1.3-kilometre-long (“km”) mineralized trend;
• A ssay results received for the remaining 2 of 4 Salvador surface trenches (totalling 145 m that exposed
120 m of UM rocks in all trenches) include:
o 14 m at 0.66 g/t 2PGE+Au, including 5 m at 1.15 g/t 2PGE+Au in trench TR23MES03;
o 27 m at 0.50 g/t 2PGE+Au in trench TR23MES04;
• Follow-up mapping, soil sampling and Trado® augering are in progress, focusing on the open trends to
the north and south of Salvador’s main zone.
Table 1: Core Assay Highlights (g/t 2PGE+Au) Reported Today
Target Hole ID From (m) To (m) Length (m)* 2PGE+Au (g/t)
Salvador DD23MES02 64.00 142.95 78.95 0.96
64.50 106.00 41.50 1.34
Salvador DD23MES03 47.15 96.75 49.60 1.25
55.20 71.00 15.80 2.22
Salvador DD23MES04
77.15 123.20 46.05 1.96
79.90 81.45 1.55 5.23
88.65 98.65 10.00 5.02
*Reported core assay interval lengths are estimated to represent 95-100% of true width for the angled hole
DD23MES03 and 65 and 80% for the vertical holes DD23MES02 and DD23MES04, respectively.
2023 Pedra Branca Drill Program Summary
• 6,152 m drilled in 49 holes distributed along 8 separate exploration target and resource zones (see
ValOre news release of September 21, 2023);
• 1,625 core samples sent to lab, with assays pending for 331 samples from 10 holes.
Table 2: 2023 Pedra Branca Drilling Totals and Assay Status by Zone
Target Total Drilled
(m) # Holes # Holes w/
UMs
Total UMs
(m)
Core
Samples
Assays
Received
Assays
Pending
Galante 790 11 11 190 384 384 0
Tróia 1,029 9 6 72 188 188 0
Nambi 665 6 6 74 203 185 18
Ipueiras 228 4 3 27 83 34 49
Massapê 380 4 3 19 48 48 0
Cedro 545 2 1 4 14 14 0
Trapiá 1 1,326 4 4 175 272 95 177
Trapiá South 133 1 1 4 36 36 0
Salvador 1,056 8 7 265 397 310 87
Total 6,152 49 42 830 1,625 1,294 331
Figure 1: Pedra Branca project property map, highlighting location s of the 2023 drill targets and
current resource zones.
Figure 2: Plan map and c ross sections along the main zone at Salvador. Assays reported for four
of seven UM- bearing holes drille d. Highlights reported here include drill holes DD23MES02,
DD23MES03 and DD23MES04, and trench es TR23MES03 and TR23MES04. Assays pending for the
remaining holes.
Figure 3: Core photographs of PGE- bearing chromitites and peridotites intersected at Salvador .
Photo on the left showing a PGE-rich chromitite portion of the high-grade interval at DD23MES04
(10 m at 5.02 g/t 2PGE+Au from 88.65 m).
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
Exploration Manager.
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 disti nct 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.
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].
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visit: http://www.discoverygroup.ca/
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