Valor Resources Ltd (ASX:VAL) is planning a 5,000-metre diamond drill program targeting multiple induced polarisation (IP) and geophysical targets at the Picha Project in Peru, especially a large IP anomaly with potential to host a porphyry copper system.
The IP anomaly stretches about 2 kilometres in length and a further 2 kilometres in width at its broadest point, supported by extensive surface sampling which returned channel samples including:
- 41.6 metres at 1.12% copper and 22.8 g/t silver (Cobremani);
- 17.6 metres at 1.95% copper and 29.5 g/t silver (Maricate); and,
- 32.85 metres at 0.61% copper and 209.76 g/t silver (Cumbre Coya).
“Chomping at the bit” to begin
“The Picha Project is an exciting copper-silver project in a world-class gold-copper-silver province, with Peru being the world’s second largest producer of both copper and silver,” Valor Resources executive chair George Bauk said.
“The results of the 2021 exploration program completed by our Peruvian team have been exceptional.
“During 2021, the team collected over 400 surface samples, with results including 41.6 metres at 1.12% copper and 22.85 g/t silver in a channel sample and many others over 1% and up to 6% copper.
“An area of 20 square kilometres was mapped in detail and this has been integrated with the results from the IP and magnetic survey to develop a robust 3-D geological model.
“A highly professional exploration program has been conducted which is a credit to the team in Peru and Australia.
“The results from the program so far are truly exciting and we are chomping at the bit to keep pressing forward.”
Valor is fully funded to continue all of its planned activities in Canada, Peru and on the corporate side of business.
About Valor Resources
Valor Resources is an exploration company focused on acquisition and exploration, especially at its two key projects in Peru and Canada.
The Picha Project in Peru and the Hook Lake Uranium Project in Canada hold the company's main focus, but Valor also owns interest in 19 contiguous mineral claims covering 62,233 hectares in northern Saskatchewan and five additional projects within the Athabasca Basin, both in Canada.