Additional Copper Targets Confirmed with Assays up to 3.95% Cu and 229 g/t Ag at Picha Project

Valor Resources Limited (“Valor” or the “Company”) is pleased to announce the results of rock chip samples taken from recently identified copper targets at the Company’s Picha Project in southern Peru. Samples were taken from two new targets which were first highlighted in the Company’s ASX announcement dated 31^st March 2022 titled “Spectral study supports the porphyry potential at Picha Copper project”. Samples were also taken from the Huancune target where Valor intends to commence systematic on-ground exploration in 2022. The sample details and assay results are shown in Table 1 below.

HIGHLIGHTS

• Multiple new targets confirmed with rock chip assay results:
  • 3.95% Cu, 229g/t Ag and 3.06% Pb in channel sample at Huancune target
  • Three of four channel samples at Huancune return >1% Cu
  • 0.82% Cu, 47.7 Ag g/t in channel sample at new target (Pacojahua) 2km southwest of Huancune

Figure 1: Picha Project – Exploration Targets and Copper geochemical anomalies (potential mineralised corridor shown as red outline)

All the selective rock chip samples have a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone.

Executive Chairman Mr George Bauk commented, “These results continue to demonstrate strong copper mineralisation extending to the north and south of the original Picha Project mineralisation previously disclosed. As outlined in Figure 1, a strong mineralisation trend runs through the project area to the nearby San Gabriel Project owned by Buenaventura SAA (NYSE:BVN)”.

“In the past few weeks we have seen the San Gabriel Project (7.6 Moz AuEq Indicated and Inferred Mineral Resource¹) receive mining approval from the relevant authorities which provides Buenaventura with a green light to proceed with the development of this project, which is located within 10km of the Picha Project”.

“Work continues with field work on the Picha Project along with working on the permitting process for the commencement of our maiden drill program this year”.

Click here for the full ASX Release

This article includes content from Valor Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.