11 Out Of 12 Holes Successful In Brazil
ValOre Metals Corp.(TSX‐V: VO) has intersected near surface PGE mineralisation in 11of the 12 core drill holes in the Santo Amaro zone at the100%-owned Pedra Branca Platinum Group Element (PGE) Project in north-eastern Brazil.
The successful drill holes intersected the ultramafic (UM) intrusion associated with the Santo Amaro NI 43-101 Inferred Resource and extended near-surface PGE-mineralisation along strike to the east and west, which remains open in both directions.
Chairman and CEO, Jim Paterson, said the company hit a new, near-surface PGE-bearing zone 250m to the north-northwest of the Santo Amaro resource area.
“This phase of drilling at Santo Amaro was very successful. We intersected PGE mineralisation at shallow depths in multiple zones, including an area 250 metres to the north-northwest of the known Santo Amaro resource,” Mr Paterson said.
“Our exploration team identified several previously unmapped ultramafic rock units which extend well beyond the currently defined resource area boundaries.
“A mapping, soil and rock sampling, and prospecting programme is underway in this area, with follow-up drilling planned as soon as practical.”
Santo Amaro is one of five defined PGE deposit areas at Pedra Branca that together host an inferred resource totaling 1,067,000 ounces (oz) 2PGE+Au contained in 27.2 million tonnes (Mt) grading 1.22 g/t 2PGE+Au/
PGE mineralisation for all five of the resource deposit areas outcrops at surface, giving these inferred resources a reasonable expectation of eventual economic extraction via open pit methods.
The 2019 Santo Amaro resource totals 203,000 oz 2PGE+Au contained in 5.3 Mt grading 1.19 g/t and represents the most underexplored deposit area at Pedra Branca. Extensive historical PGE-in-soils anomalies, magnetic targets, and newly mapped, untested UM belts make Santo Amaro a compelling resource expansion and PGE discovery region.
Geological field mapping preceding the 2020 drill programme identified several previously unmapped, prospective ultramafic belts which extend well beyond the area hosting the defined resource. A follow-up mapping, soil sampling, rock sampling, and prospecting program is on-going.
Santo Amaro 2020 Drill Results
During 2020, a total of 1,366m were drilled in twelve core holes at Santo Amaro. PGE mineralization in the UM intrusion that hosts the Santo Amaro resource was extended along strike to the east and west as shown by at- to near-surface PGE drill intercepts. This zone remains open in both directions. In addition, an emerging shallow PGE zone was drilled approximately 250m north-northwest of the resource area.
