27 Aug ValOre Metals reveals initial drill results from PGE project in Brazil
ValOre Metals has announced initial assay results from the ongoing Phase 1 core drill programme at its 100%-owned Pedra Branca Platinum Group Element (PGE) Project in Northern Brazil.
In an update on the Toronto Stock Exchange, ValOre published assay results for two of the five holes drilled at the Trapia 1 target.
Drill hole DD20TU10 returned 1.0 g/t 2PGE+Au (palladium, platinum + gold) over 52.8 metres from surface, including 2.14 g/t 2PGE+Au over 9.0 metres, and drill hole DD20TU12 intercepted 0.69 g/t 2PGE+Au over 100.4 metres from to 93.2 metres depth, including 2.33 g/t 2PGE+Au over 11.0 metres.
“We are extremely pleased with initial results from the Phase 1 drill programme at Pedra Branca, including the assays received from these first two holes at the Trapia 1 target area,” said ValOre chairman and CEO Jim Paterson.
“It is just the beginning of a very exciting period of exploration and discovery at the Pedra Branca project. We are also sincerely thankful for the continued safety and health of our employees, contractors, and members of the communities of Capitão Mor and area surrounding Pedra Branca.”
In August last year ValOre estimated a NI 43-101 inferred resource of 1,067,000 ounces 2PGE+Au for Pedra Branca, contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au.