'We are very encouraged by the assay results received for Trado auger samples collected at the Nambi target, with 12 holes returning PGE mineralization from surface to a depth of 11 m,' stated ValOre's VP of Exploration,
Nambi Trado Auger Assay Highlights:
10 metres ('m') grading 0.46 grams per tonne palladium + platinum + gold ('g/t 2PGE+Au') from surface; 11 m grading 0.40 g/t 2PGE+Au from surface; 3 m grading 0.92 g/t 2PGE+Au from surface; 1.5 m grading 1.83 g/t 2PGE+Au from surface; 1.5 m grading 1.43 g/t 2PGE+Au from surface.
Nambi 2022 Exploration Program
The Nambi target area, situated just a few kilometres from the 2022 NI 43-101 inferred resource areas of Trapia and Massape (see Figure 1), is characterized by historical geophysical (magnetic high) and geochemical anomalies (PGE-in-soils and rock samples >7 g/t 2PGE+Au). ValOre conducted detailed geological mapping and prospecting along the anomalous trend and subsequently followed up with 75 Trado auger holes totaling 178 m. At-surface, ultramafic ('UM') or UM-derived rocks were intercepted in 30 of 75 Trado holes, with significant PGE mineralization reported in 12 of the 30 UM-bearing Trado holes, defining a PGE-mineralized trend of 1.2 km.
Trado auger assay highlights include some of the thickest UM intervals augered by the Trado at Pedra Branca to date, including holes AD22NB63 and AD22NB64, which returned 10 m grading 0.46 g/t 2PGE+Au and 11 m grading 0.40 g/t 2PGE+Au respectively, and elevated PGE assay intercepts in the central portion of the target, including holes AD22NB12, which returned 1.5 m grading 1.83 g/t 2PGE+Au and AD22NB26, with 3 m grading 0.92 g/t 2PGE+Au. See Table 1 below for a summary of significant Trado assay results.
End-of-hole depths typically represent the onset of impenetrable unweathered bedrock, indicating that mineralization and UMs remain fully open at depth and require follow-up core or Reverse Circulation ('RC') drilling
Historical Core Drilling
One historical core drill hole (DD14NB01, see Figure 1) was drilled in 2014 by
ValOre relogged and re-sampled a core interval interpreted to represent altered UM-derived rocks which were not previously sampled. Anomalous PGE grades were reported from 19 to 24 m, with results up to 0.10 g/t 2PGE+Au in two samples (at 19 m and at 24 m depth).
These reassay results, along with Trado, trenching and mapping data, suggest that the target PGE-mineralized UM sequence is locally thinning in the region of drill hole DD14NB01; however, the presence of PGE-bearing UM-derived rocks indicated geological continuity of the prospective layer towards the southernmost mineralized Trado holes, where 11-m-thick peridotites have been intercepted in trench TR22NB01 (assays pending).
ValOre's interprets that the historical core hole targeted the magnetic anomaly but did not test the UM and chromitite showings occurring just a few metres to the north and south of the drill hole location.
PGE-bearing ultramafic rocks remain open and underexplored, at depth and along strike, over the 1.2-km-long trend that defines the Nambi target zone.
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