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Valore Metals Corp. ("ValOre" or "the Company"; TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0) today announced the appointment of engineering company LYCOPODIUM MARINE & MODULAR PTY LTD as lead process engineering consultant, in support of a future Preliminary Economic Assessment ("PEA") study for ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil.
Lycopodium will provide process engineering and study support services to advance Pedra Branca toward a PEA conforming to the Standards of Disclosure for Minerals Projects, as per National Instrument 43-101 ("NI 43-101"). Their work will focus on defining, evaluating, and modelling process flowsheet options informed by ValOre's extensive historical and ongoing metallurgical testwork programs.
The scope of this work includes:
- Input and recommendation on process route selection;
- Preparation of PEA-level process engineering inputs, including:
- Process flowsheet development and mass, water and energy balances;
- Major mechanical equipment selection and sizing;
- Capital and operating cost estimates;
- Process description and high-level control philosophy.
Nick Smart, ValOre's CEO, stated: "The addition of Lycopodium's very competent team, their considerable worldwide experience, and demonstrated track record in the development and delivery of minerals projects, strengthens ValOre's pathway and gives us confidence for the successful development of the Pedra Branca PGE project. We are very excited for the ultimate delivery of the Pedra Branca PEA at a time of continued strong demand for new sources of Platinum Group Element supply globally."
The work for ValOre will be led from and delivered by Lycopodium's Cape Town office, located near to the University of Cape Town, where concurrent metallurgical testwork is being carried out on the Pedra Branca ore.
About Lycopodium
Lycopodium has a demonstrated track record for developing and delivering value-optimised, fit-for-purpose process plants, delivered on budget and to schedule. Considering this, Lycopodium is uniquely able to offer confidence in the outcome for the successful development of this project.
Lycopodium has been active in the resources industry for over 30-years internationally and has designed and / or built numerous mineral processing plants with throughputs ranging from pilot scale to over 85 Mtpa.
Lycopodium has successfully completed an extensive portfolio of studies and projects for diamond, gold, iron ore, nickel, copper and PGE producers worldwide:
CLICK HERE FOR LYCOPODIUM SELECT PROJECT CASE STUDIES
This leading position was achieved by consistent attention to detail and client service, with long-standing relationships and repeat projects awarded by many clients.
Qualified Person ("QP")
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 Thiago Diniz, P.Geo., ValOre's Qualified Person and Vice President of Exploration.
About Valore Metals Corp.
Valore Metals Corp. (TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0) is a Canadian company with a team aiming 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 and innovation.
ValOre's Pedra Branca Platinum Group Elements Project comprises 45 exploration licenses covering a total area of 51,096 hectares (126,260 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t 2PGE+Au. ValOre's team believes the Pedra Branca project has significant exploration discovery and resource expansion potential. (CLICK HERE to download 2022 technical report* and CLICK HERE for news release dated March 24, 2022).
*The 2022 Technical Report, entitled "Independent Technical Report–Mineral Resource Update on the Pedra Branca PGE Project, Ceará State, Brazil", was prepared as a National Instrument 43-101 Technical Report on behalf of Valore Metals Corp. with an effective date of March 08, 2022. The 2022 Technical Report by Independent qualified persons, Fábio Valério (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21, commissioned to complete the mineral resource estimate while Chris Kaye of Mine and Quarry Engineering Services Inc. (MQes), was commissioned to review the metallurgical information. The Mineral Resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical, plus economic and mining parameters appropriate to the deposit. Mineral Resources, which are not mineral reserves, do not have demonstrated economic viability, and may be materially affected by environmental, permitting, legal, marketing, and other relevant issues. Mineral Resources are based upon a cut-off grade of 0.4 g/t PGE+Au, correlated to Pd_eq grade of 0.35 g/t, and were limited by an economic pit built in Geovia Whittle 4.3 software and following the geometric and economic parameters as disclosed in the 2022 NI 43-101 Technical Report,
For further information about Valore Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 778-819-4484, or by email at contact@valoremetals.com.
Valore Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/
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.
This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.
