ValOre Metals Drills PGE Mineralization at Trapia2 in Pedra Branca

ValOre Metals Corp announced assay results for eight Trapia 2 core drill holes at ValOre’s 100%-owned Pedra Branca Platinum Group Element Project in
ValOre Metals Drills PGE Mineralization at Trapia2 in Pedra Branca
ValOre Metals Pedra BrancaValOre Metals

ValOre Metals Corp announced assay results for eight Trapia 2 core drill holes at ValOre’s 100%-owned Pedra Branca Platinum Group Element Project in northeastern Brazil. The target ultramafic Trapia 2 intrusion was intercepted in all eight core holes drilled, establishing geological continuity well beyond the currently defined resource area. Near surface mineralization was intersected along strike to the northeast and southwest of this existing resource, and mineralization remains open in all directions.

ValOre’s Chairman and CEO Jim Paterson said “Today’s results, demonstrating near-surface mineralization at Trapia 2, build on the recent drilling success at Trapia 1 and should expand the known resource at Trapia, currently at 219,000 ounces grading 1.10 g/t 2PGE+Au in 6.2 Mt. The extension of mineralized intersections to both the Trapia 1 and Trapia 2 deposits suggests the potential of a much larger ultramafic system, warranting additional resource expansion drilling in 2021.”

Highlights from Trapia 2 Drill Holes and Program Update

All eight 2020 drill holes into the Trapia 2 target intercepted continuous, broad PGE-bearing UM intrusion over a strike length of 825 metres

Near-surface PGE mineralization was intercepted outside of the currently defined NI 43-101 resource area:

Drill Hole DD20TD13 intercepted 45.62 m grading 0.54 grams per tonne 2PGE+Au (palladium + platinum + gold) from 9.10 m, including 6.10 m grading 2.71 g/t 2PGE+Au from 10.90 m

Drill Hole DD20TD07 intercepted 52.15 m grading 0.49 g/t 2PGE+Au from 4.85 m

Reported interval widths are estimated to represent 90-100% true thickness

PGE mineralization hosted by the UM intrusion remains open along strike to the northeast and southwest, and down-dip to the southeast

A 600-metre-long 3D magnetic inversion geophysical target with coincident up-dip soil anomaly remains un-tested north of the Trapia 2 resource area

A 3D magnetic target extends for 700 m to the southeast of Trapia 2, and has only been drill tested for 200 m along strike

In-fill drill hole coverage with the view to potentially upgrade resources from inferred to indicated

Twelve core drill holes at the Santo Amaro target (resource expansion and target advancement) have been logged, sampled and shipped to SGS Vespasiano, Minas Gerais, for assay. This marks the conclusion of ValOre’s 2020 Pedra Branca drill program.

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