May 7, 2021
ValOre Metals Corp. (TSXV:VO, Not Rated, David A. Talbot) provided an update on its Rh assay program of historical and 2020 drill core samples, from its 100%-owned Pedra Branca PGE project located in Brazil. The company has completed four Rh assay programs to date, totaling 1,069 samples from 154 drill holes, on all five deposits with resource estimates and two pre-resource targets. Results from 40% of the samples assayed have retuned mineralization (in all deposits and targets), establishing that Rh mineralization is present throughout the Pedra Branca project. A strong correlation between 2PGE+Au grade and Rh grade was also observed, since 78% of the samples with grades of +5 g/t 2PGE+Au returned anomalous Rh. Results have highlighted that Rh mineralization is situated near-surface, with an average Rh bearing sample starting at a depth of 54m. Furthermore, the two pre-resource targets, C-04 and Cana Brava, exhibited the highest percentage of Rh mineralized samples at 70% and 64%, respectively. We view these results positively, as it highlights additional upside from Rh at the project. With an 8,000m drilling program currently underway at the project we see large potential for PGM resource growth at Pedra Branca (currently 1.067M oz 2PGE+Au in inferred resources). Additionally, with rising demand for PGE’s and Rh in catalytic converters for the growing electric vehicle (EV) market, we believe investors should keep a keen eye on this overlooked and underreported story. Read more
