ValOre Metals Corp. (“ValOre”; TSX‐V: VO) ValOre today provided an update to shareholders. ValOre’s team continues to leverage its extensive database for its 100%-owned Pedra Branca Platinum Group Elements Project (“PGE”, “2PGE+Au”) and has uncovered additional significant exploration targets and opportunities.
ValOre’s team have identified three separate, large-scale PGE targets collectively called “Mendes North” (see Figure1 below), which warrant immediate geochemical soil sampling and prospecting programs prior to drill testing.
Highlights of the new Mendes North PGE Targets:
ValOre also announces that it has been closely monitoring developments of the novel coronavirus pandemic (“COVID-19”). ValOre considers health and safety a top priority for its people and in the communities in which it works.
ValOre is encouraging its employees, contractors, and partners to work remotely and follow the World Health Organization and Public Health Agency of Canada best practices to avoid catching the virus.
ValOre has initiated the following health and business precautions:
ValOre is committed to reducing the health risk to its stakeholders and will continue to work proactively through these tumultuous times. ValOre, as part of Discovery Group, has great access to capital and strong support from insiders and major shareholders.
Figure 1: Summary of Mendes North Exploration Targets, with comparison to the NI 43-101 2PGE+Au Esbarro Deposit
https://www.globenewswire.com/NewsRoom/AttachmentNg/a86bc7d0-df90-4a4a-afe2-a28af93d8f02
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., who oversees New Project Review for ValOre.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the “District Scale” potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre’s news release of March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals Corp. or this news release, please visit our website at www.valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca