Announcement Date: 2021-12-03
Announcement Type: Exploration Update
Announcement Code: NI43-101
Company name: Valor Resources Ltd.
Project name: Picha
Location: Peru
Commodities: Silver,Copper
Highlight: Ground geophysics identifies copper drill targets supporting surface mineralisation
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Valor Resources Limited (“Valor” or the “Company”) is pleased to announce the commencement of a ground geophysical survey at the Company’s Picha Project in Peru. A ground magnetic and Induced Polarisation (IP) survey has commenced with the first three lines of the IP survey completed and 70% of the ground magnetic survey completed. Preliminary results have been received for the first three lines of the IP survey which have revealed chargeabilty anomalies at depth which correlate with surface mineralisation at the Cumbre Coya, Maricate and Cobremani target areas (see Figures 1, 2 & 3 – IP lines L_7776, L_8176 & L_8576). Much of the surface mineralisation at Cumbre Coya and other targets is associated with chalcedonyopaline silica and quartz veins and this is supported by the IP survey which reveals several resistivity anomalies at surface which are coincident with surface mineralisation. Previous Valor ASX announcements have reported the details of the surface geochemistry results at the Picha Project (see VAL:ASX reports dated 2nd June 2021 titled “Peru Project Initial Assays Deliver High Grade Results, 11th October 2021 titled “Widespread significant copper mineralisation at Picha” and 4th November 2021 titled “Further High-Grade copper and silver mineralisation at Picha).
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