April 26, 2022
ValOre Metals Corp. (TSXV:VO, BUY, C$1.05 target, David A. Talbot) reported rock assay results from the Troia target at its 100%-owned Pedra Branca PGE project in northeastern Brazil. The Troia trend is located 4km west of the Cedro resource (453k oz grading 1.03 g/t 2PGM+Au) and 4km west of Esbarro (403k oz grading 1.16 g/t). Surface prospecting and sampling has identified mineralization associated with shallow ultramafic intrusion and coincident with historic geochemical and geophysical anomalies over 1km by 50-100m. Notably, 11 out of 13 samples returned PGEs, averaging 5.02 g/t 2PGE+Au, with a max of 23.01 g/t. Auger drilling at Troia is now underway with 46 holes (133m) completed to date. While assays remain pending, we note that mineralized ultramafics were found in 10 holes. Detailed mapping, auger drilling, and trenching should help further delineate this emerging high priority target. Since over doubling PGE+Au resources to 2.2M oz recently (read more), ValOre continues to aggressively expand and identify new zones in Brazil and is about to start an aggressive C$11M uranium exploration program at Angilak in Nunavut (read more). Throughout the summer we expect newsflow from multiple projects, including from one of Canada’s largest and high-grade uranium deposits, to keep investors interested. ValOre is also reviewing its strategic options, including the potential spin-out of the PGE assets to help realize value for shareholders. As understanding of the Pedra Branca project expands and exploration methodology is further refined, we believe the rate of resource expansion and discovery should accelerate. This bodes well for any potential spin-out. Read more
