Valor Resources Ltd (ASX:VAL) has doubled down on additional copper targets at its Picha project in southern Peru.
Rock chip and channel samples confirmed the new base metal prospects, with up to 3.95% copper, 229 g/t silver and 3.06% lead encountered in a channel sample at the Huancune target.
Three out of four channel samples from Huancune also returned more than 1% copper, meaning there’s more base metal potential across the target.
Valor hopes to get the drill bit spinning at Picha next quarter, but in the meantime, geological mapping, surface sampling and ground geophysics will continue over the copper project’s key targets.
Tracking strong mineralised trend
Valor Resources executive chair George Bauk said: “These results continue to demonstrate strong copper mineralisation extending to the north and south of the original Picha Project mineralisation.
“As outlined above, a strong mineralisation trend runs through the project area to the nearby San Gabriel Project, owned by Buenaventura SAA.
“In the past few weeks, we have seen the San Gabriel Project (bearing a 7.6-million-ounce gold equivalent indicated and inferred resource) receive mining approval from the relevant authorities, which provides Buenaventura with a green light to proceed with the development of this project, located within 10 kilometres of the Picha Project.
“Fieldwork continues on the Picha Project, along with working on the permitting process for the commencement of our maiden drill program this year.”
Samples are in
Valor’s sampling program saw it take rock chips from two new targets at Picha — Pacojahua and Ajencorani — that were first highlighted to the market late last month.
Samples were also taken from the Huancune target, where Valor plans to start systematic on-ground exploration this year.
Altogether, Valor collected nine rock chips from Picha: four channel samples from Huancune, three rock chip and one channel sample from Pacojahua and one rock chip from Ajencorani to round out the sampling program.
At Huancune, three of the channel samples were taken within 10 metres of each other, while the other sample was taken 350 metres to the south and returned 1.17% copper.
Pacojahua’s channel samples came from historical workings, returning up to 0.82% copper and 47.7 g/t silver. The rock chip did not return findings of note.
Finally, Ajencorani’s single rock chip sample came from the project’s northeast corner, fielding anomalous results with 282 parts per million copper and 388 ppm zinc. Valor says further sampling is required in this target area.
What’s to come?
Permitting work is well underway to facilitate Valor’s maiden drill campaign in the September quarter.
In the meantime, fieldwork continues across Picha’s Pacojahua, Huancune, Occsani, Ichucollo, Chullunquiani and Ajencorani target areas.