A miner handles a piece of platinum rich ore. Source: Waldo Swiegers/Bloomberg
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  • ValOre Metals (VO) announced assay results from its ongoing 8000-metre drill program at its Pedra Branca PGE Project
  • The platinum group element (PGE) project is located in northeastern Brazil
  • The company owns a 100-per-cent interest in the Pedra Branca Project
  • Assays are pending for four more holes and subsequent follow-up drilling is to be planned upon receipt and review of the remaining assays
  • ValOre Metals is unchanged, trading at C$0.25 at 12:39 pm ET

ValOre Metals (VO) announced assay results from its ongoing 8000-metre drill program at its Pedra Branca PGE Project.

The platinum group element (PGE) project is located in northeastern Brazil.

The Vancouver exploration company owns a 100-per-cent interest in the Pedra Branca Project.

The company has drilled eight core drill holes totalling 1,885 metres at the Trapia 1 target so far in 2021. The target host UM intrusion was intercepted in six of the eight holes.

Assays are pending for four more holes and subsequent follow-up drilling is to be planned upon receipt and review of the remaining assays.

“ValOre’s drilling at Trapia 1 continues to produce significant, broad intercepts of PGE mineralization at or above average resource grade, with 2020-2021 drilling more than doubling both the strike and depth extent of known mineralization, which remains open in most directions. When comparing the gram*metre values of the 33 total holes drilled at Trapia 1 to date, with 15 historical and 18 by ValOre, ValOre has produced 15 of the best 25, including 6 of the best 8 drill holes, all of which sit entirely outside of the existing NI 43-101 defined resource area,” said ValOre VP of Exploration Colin Smith.

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 39 exploration licenses covering a total area of 39,987 hectares in northeastern Brazil.

At Pedra Branca, five distinct PGE and gold deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE and gold contained in 27.2 million tonnes grading 1.22 grams per tonne.

ValOre has a portfolio of high‐quality exploration projects with an aim 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.

ValOre Metals is unchanged, trading at C$0.25 at 12:39 pm ET.

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