ValOre Metals Corp.(TSX‐V: VO; OTC: KVLQF) has obtained positive assay results from the Santo Amaro target at its 100%-owned Pedra Branca Platinum Group Elements in north-eastern Brazil.
“2021 drilling at Santo Amaro was a great success, with significant shallow PGE intercepts returned in 16 of 20 holes,” VP of Exploration, Colin Smith, said.
“The 127-metre PGE intercept in drill hole DD21SA27, situated 95 metres outside of the resource to the east-southeast, demonstrates the impressive upside potential of this underexplored target area.”
2021 Santo Amaro Core Drilling:
- 20 holes drilled totalling 2,316m, with a primary focus of resource expansion;
- All 20 completed holes intercepted the target ultramafic (“UM”) intrusion, with assays received in full, and notable PGE intercepts returned in 16 of 20 core holes;
- Newly received near surface PGE interval highlights include:
- 127 m at 0.85 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 39 m, incl. 27 m at 2.25 g/t 2PGE+Au from 55 m in drill hole DD21SA42
- 53 m at 1.19 g/t 2PGE+Au from 2.0 m, incl. 20 m at 2.13 g/t 2PGE+Au from 29 m in drill hole DD21SA34
- 22 m at 2.64 g/t 2PGE+Au from 18 m, incl. 6.0 m at 5.32 g/t 2PGE+Au from 29 m in drill hole DD21SA37
- 20 m at 1.67 g/t 2PGE+Au from 40 m in drill hole DD21SA33;
- Drill-confirmed PGE mineralization along the trend has increased in strike length from 215 m to over 600 m;
- Continuity of geology and PGE grade has been established between Northwest Target (“NW”) and resource area, with 8 positive NW drill holes spaced ~60-90 m apart;
- Broad trends of near-surface PGE mineralization remain largely open.
Santo Amaro Target and the 2019 Mineral Resource Domain
Santo Amaro is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces (oz) of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au.
Shallow, well-mineralised intercepts have been returned for all 10 holes, establishing strong geology and PGE grade continuity of the resource area. Highlight PGE intercepts include: 36 m at 2.22 g/t 2PGE+Au from 43 m, incl. 9.1 m at 6.38 g/t 2PGE+Au from 43 m in drill hole DD21SA30, and 53 m at 1.19 g/t 2PGE+Au from 2.0 m, incl. 20 m at 2.13 g/t 2PGE+Au from 29 m in drill hole DD21SA34. See Table 1 below for a summary of significant drill core assays, and Figure 1 below for a plan map of Santo Amaro drilling.
Resource Expansion Potential
The easterly resource strike extension exhibits a thickening of the mineralized package and was subsequently targeted with 3 holes in 2021. All three holes intercepted broad intervals of target UMs along trend from the existing resource, including highlight drill hole DD21SA42, which returned 127 m at 0.85 g/t 2PGE+Au from 39 m, including 27 m at 2.25 g/t 2PGE+Au from 55 m. See Table 1 below for a summary of significant drill core assays, and Figure 2 below for a cross section of DD21SA42.
The resource strike potential also remains open to the west and northwest, as evidenced by western-most 2020 drill hole DD20SA23, which returned 20 m at 0.98 g/t 2PGE+Au from surface and 2021 drill hole DD21SA37, situated 220 m to the northwest (NW Target), which returned 22 m at 2.64 g/t 2PGE+Au from 18 m.
Northwest Target Area
The NW Target represents an emerging shallow PGE body approximately 250 m north-northwest of the resource area, targeted with six holes totalling 729 m in 2021, with the goal of incorporating the zone into a future inferred resource estimate.
All six holes intercepted the target shallow UM intrusion, with four holes returning significant near-surface PGE intercepts, building strong geological continuity between the 200 m by 300 m zone, and the resource area (250 m to the south-southeast). Highlight drill hole DD21SA37 returned 22 m at 2.64 g/t 2PGE+Au from 18 m, incl. 6.0 m at 5.32 g/t 2PGE+Au from 29 m. See Table 1 below for a summary of significant drill core assays.
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