ValOre Metals Corp.(TSXV: VO; OTC: KVLQF) has released a significantly updated independent inferred mineral resource estimate for its%-owned Pedra Branca Platinum Group Elements Project in north-eastern Brazil.
“We are very pleased to announce the doubling of ValOre’s Pedra Branca inferred mineral resource estimate, which was expanded to 2.2 million ounces of palladium, platinum, and gold at 1.08 g/t 2PGE+Au,” CEO, Jim Paterson, said.
“Several of the zones which form part of the resource estimate remain wide open for expansion in future drill programmes.
“ValOre’s technical team has demonstrated their ability to expand known resource zones and to convert exploration targets into resource ounces in a very cost-effective manner. We spent C$6.1M on exploration, administration and development at Pedra Branca since the 2019 acquisition and resource estimate, which equates to under C$6 per ounce of 2PGE+Au added to the resource inventory.
“With the initial metallurgical results recently reported, this announcement on the resource expansion, and a discovery pipeline of exploration targets laid out property-wide, we very excited about the future potential of ValOre’s Pedra Branca Project.”
Highlights of the 2022 NI 43-101 Pedra Branca Inferred Mineral Resource Estimate:
- 2,198 thousand ounces (“Koz”) palladium + platinum + gold (“2PGE+Au”) in 63.6 million tonnes (“Mt”) grading 1.08 g/t 2PGE+Au;
- 106% increase to 2019 inferred mineral resource;
- C$6.1 spent on exploration and development since 2019 resource, equating to C$5.40 per ounce 2PGE+Au added;
- 17,434 m have been drilled since the 2019 resource, with approximately 11,500 m allocated to resource expansion;
- Extensive resource growth potential remains at Massapê, Santo Amaro, Trapia, and Cedro, in addition to advanced exploration targets property-wide;
- Regional exploration by Trado drilling continues to advance new prospects to RC or core drill targets.
2022 Inferred Mineral Resource Estimate
The 2022 resource estimate is the result of over 17,000 metres of new drilling between July 2020 and December 2021 and comprises seven distinct deposit areas which host, in aggregate, an inferred resource of 2,198 Koz 2PGE+Au in 63.6 Mt grading 1.08 g/t 2PGE+Au. Mineralisation outcrops at surface in all zones, and all the inferred resources are potentially open pittable.
The Pedra Branca inferred resource estimate has doubled in its palladium, platinum, and gold endowment since the 2019 NI 43-101 technical report. Compelling growth potential remains at multiple deposit areas, including Massapê, Santo Amaro, Trapia, and Cedro.
The inferred mineral resource estimate for the Trapia deposit increased by a factor of over 4 times, and now represents the largest contributor to the global resource at 885 Koz 2PGE+Au grading 0.96 g/t in 28.8 Mt). The Cedro deposit inferred mineral resource estimate also tripled in size to 453 Koz 2PGE+Au grading 1.03 g/t in 13.6 Mt. Both the Trapia and Cedro deposits were the subject of 2020-2021 resource expansion drilling.
Massapê and Cana Brava represent two new zones added to the 2022 resource, accounting for 154 Koz ounces 2PGE+Au in 4.0 Mt at grades of 1.21 and 1.18 g/t 2PGE+Au, respectively. Massapê remains wide open along in all directions.
For further information please visit: http://www.valoremetals.com/
