Platinum

ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTC: KVLQF; Frankfurt: KEQ0, "the Company") today announced Trado ® auger assay results from the Tróia target area ("Tróia") at ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil.

"The Tróia target represents another high-quality, near-surface zone of significant scale that is rapidly evolving into a compelling drill target," stated ValOre's VP of Exploration, Colin Smith. "Palladium and platinum mineralization occurs within a broad zone along a 1-kilometre trend that remains open in both directions of strike."

Tróia Target Exploration Program Highlights:

  • Mineralization occurs within a 50- to 100-metre-wide zone, along a 1-kilometre-long trend with compelling geochemical and geophysical anomalies, and rock samples exceeding 23 g/t 2PGE+Au;
  • The Tróia target has been tested with 72 Trado ® auger holes (results received for 53), totaling 206 metres ("m") and 7 trenches, totaling 400 m;
  • Target ultramafic rocks ("UM") encountered in 19 Trado ® holes (62 m of the 206 m augered) and all 7 trenches, over geological trend of approximately 1 kilometre ("km") in strike length;
  • Multiple PGE-mineralized Trado ® auger holes, including:
    • 8.5 m grading 0.98 grams per tonne palladium + platinum + gold ("g/t 2PGE+Au") from surface, including 4.0 m grading 1.44 g/t 2PGE+Au from 4.0 m depth
    • 2.0 m grading 8.58 g/t 2PGE+Au from surface, including 1.0 m grading 15.93 g/t 2PGE+Au from surface
    • 4.0 m grading 1.55 g/t 2PGE+Au from surface
    • 3.8 m grading 1.64 g/t 2PGE+Au from surface;
  • Sampling and geological mapping of all 7 trenches are in progress.

Tróia 2022 Exploration Program

ValOre conducted detailed geological mapping and prospecting along the 1-km-long anomalous trend at Tróia, a target located 4.5 km north-northeast Massapê (129,000 oz 2PGE+Au grading 1.21 g/t in 3.31 Mt) and 8 km north of Trapia (885,000 oz 2PGE+Au grading 0.96 g/t in 27.8 Mt). The main Tróia zones were subsequently followed up with 72 Trado ® auger holes totaling 206 m, with UMs encountered in 19 Trado ® holes. Assays are pending for 19 of 72 holes. See Table 1 below for a summary of significant Trado ® assay results.

PGE assays previously reported from Trado ® auger drilling and rock sampling, including 23.01 g/t 2PGE+Au and 12.00 g/t 2PGE+Au ( CLICK HERE for news release dated April 25, 2022), warranted follow-up trenching along 600 m of geological trend to confirm the presence of in-situ PGE mineralization. Seven trenches were excavated (400 m total length), with all exposing UM and UM-derived rock continuity along strike, with significant thickness chromitite-rich UMs in the central two trenches (TR22TR01 and TR22TR02 – see below for detailed plan map of the Tróia target priority area of interest, Figure 1). Trench sampling and mapping are in progress. See Figure 2 for photographs of the Tróia trenching program.

Table 1: Trado ® Auger Drilling Highlights for Tróia Target

Hole ID From (m) To (m) Length (m) 2PGE+Au (g/t) 2PGE+Au Interval Summary
AD22TR02
0.0 8.5 8.5 0.98 8.5 m grading 0.98 g/t 2PGE+Au from surface
incl. 4.0 m grading 1.44 g/t 2PGE+Au from 4.0 m
4.0 8.0 4.0 1.44
AD22TR17A 0.0 3.0 3.0 0.65 3.0 m grading 0.65 g/t 2PGE+Au from surface
AD22TR23
0.0 2.0 2.0 8.58 2.0 m grading 8.58 g/t 2PGE+Au from surface
incl. 1.0 m grading 15.93 g/t 2PGE+Au from surface
0.0 1.0 1.0 15.93
AD22TR25A 0.0 5.0 5.0 0.38 5.0 m grading 0.38 g/t 2PGE+Au from surface
AD22CC02 0.0 4.0 4.0 1.55 4.0 m grading 1.55 g/t 2PGE+Au from surface
AD22CC06 0.0 3.8 3.8 1.64 3.8 m grading 1.64 g/t 2PGE+Au from surface
AD22CC07 0.0 2.0 2.0 0.18 2.0 m grading 0.18 g/t 2PGE+Au from surface

Figure 1: Tróia target plan map with high-grade Trado ® and rock samples highlighted.
https://www.globenewswire.com/NewsRoom/AttachmentNg/bcca42c1-84f4-49a8-a3a6-b87a9d20af71

Figure 2: Photographs of trench TR22TR01 at Tróia target (top picture, looking east), with trench wall sampling intervals (bottom center and bottom left pictures) and a sample of chromitite-rich ultramafic rock submitted for PGE assay (bottom right picture).
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a156913-ffd2-411c-895c-5b70ae58a898

About the Trado ® Auger and Trenching Methodology

CLICK HERE for more information regarding Trado ® Auger and Trenching methodology.

Quality Control/Quality Assurance ("QA/QC") and Grade Interval Reporting

CLICK HERE for a summary of ValOre's policies and procedures related to QA/QC and grade interval reporting.

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 Colin Smith, P.Geo., ValOre's QP and Vice President of Exploration.

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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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 ( CLICK HERE for news release dated March 24, 2022). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre's Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current 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 CLICK HERE for ValOre's news release dated 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 at 604.653.9464, 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.


News Provided by GlobeNewswire via QuoteMedia

VO:TCM
Purepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan

Purepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan

Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") is pleased to announce that its proposed adoption of a new omnibus equity incentive compensation plan (the "Omnibus Plan") was approved by the Company's shareholders at its annual and special meeting of shareholders held on June 29, 2022 (the "Meeting"). The Omnibus Plan replaced the Company's existing stock option plan and includes a 10% "rolling" option plan permitting a maximum of 10% of the issued and outstanding common shares of the Company as at the date of any option grant to be reserved for option grants and a fixed plan permitting 36,888,943 common shares of the Company to be reserved for grant of restricted share units and performance share units. Please refer to the Company's management information circular dated May 13, 2022 which is available under the Company's profile at www.sedar.com for a copy and summary of the Omnibus Plan.

About Purepoint

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Commences Airborne Survey at Geikie Project in Athabasca Basin

CanAlaska Commences Airborne Survey at Geikie Project in Athabasca Basin

Airborne Magnetics and Radiometrics to Confirm Existing Targets and Generate New Targets, Preparing for Planned Summer Ground Prospecting Program

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has commenced a high-resolution helicopter-borne aeromagnetics and radiometrics survey on it's Geikie project in the Athabasca Basin (Figure 1). The survey consists of 3,731 line-km's of airborne surveying at 100 m line-spacing across the Geikie project to identify magnetic and radiometric anomalies for future targeted ground prospecting and drilling.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FORTUNE BAY INTERSECTS ELEVATED RADIOACTIVITY IN MAIDEN DRILL PROGRAM AT THE STRIKE URANIUM PROJECT

FORTUNE BAY INTERSECTS ELEVATED RADIOACTIVITY IN MAIDEN DRILL PROGRAM AT THE STRIKE URANIUM PROJECT

Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce initial drill results for its 100% owned Strike Uranium Project ("Strike" or the "Project"), located in northern Saskatchewan (see Figures 1 and 2). A total of nine drill holes were completed comprising 2,064 metres. Results included shallow intersections of elevated radioactivity, between 35 and 95 metres below surface, within favorable geological settings for high-grade, basement hosted deposits typical of the Athabasca Basin.

Highlights:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
ValOre Metals

ValOre Reports Encouraging Trench Results from Tróia Target, Pedra Branca

ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTC: KVLQF; Frankfurt: KEQ0, "the Company") today announced trench channel sample assay results from the Tróia target ("Tróia") at ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil.

"Our geological team continues to deliver at the Pedra Branca palladium-platinum project. Tróia joins Ipueiras and Galante East in our pipeline of drill-ready targets," stated ValOre's V.P. of Exploration, Colin Smith. "The trench results at the Tróia target confirm the presence of in-situ PGE mineralization intercepted in previously reported Trado ® auger drilling and rock sampling and demonstrate potential continuity of the target chromite-bearing ultramafic rocks over 600 m along trend. Mineralization and the target ultramafic intrusion remain fully open at depth and warrant follow-up core or RC drilling."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Purepoint Uranium Initiates Program at 100% Owned Carson Lake Project

Purepoint Uranium Initiates Program at 100% Owned Carson Lake Project

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced the commencement of an airborne gravitymagnetic survey over their 100% owned Carson Lake Uranium Project which lies on the north-eastern edge of the Athabasca Basin, Saskatchewan, Canada.

The Carson Lake project covers the northeast extension of a major conductive trend that is also present on Purepoint's Red Willow project. The current airborne gravity survey results will help further define north-south trending structures and geologic contacts interpreted from prior magnetic survey results. Interpreted structures that crosscut the conductive trend are considered prospective exploration target areas as structural complexity may have developed and trapped uranium-rich fluids.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Commences Airborne Survey at Key Extension Project in Athabasca Basin

CanAlaska Commences Airborne Survey at Key Extension Project in Athabasca Basin

Airborne Magnetics and Radiometrics to Confirm Targeting Near Large Gravity Anomalies

Summer Ground Prospecting and Drill Program Now Permitted

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×