Valor Resources has further bolstered an impressive inventory of targets adding unique copper mineralisation at depth to its shopping list of detailed exploration planned for the Picha project in Peru.
The survey, lying in the world’s second-largest copper-producing nation, supported what the explorer expected from the surface mineralisation but added much intrigue towards the potential for deeper drilling.
One of the few construction metals not overtly exposed to China’s decelerating property market, the commodity is essential in producing renewable technologies.
The company said the results they have received over the past five months demonstrate widespread mineralisation over the 20 square kilometre project and are only a sliver of what was anticipated.
“The team will continue to undertake ground-based work to firm up drill targets for the project, results to date are outstanding, and we will continue to advance the project in 2022,” executive chairman George Bauk said.
“What better place to explore for copper than Peru?”
Only 18 per cent of the 57-line kilometre ground-based IP survey is complete and is expected to be completed by January in the new year.
Results from a further 93 surface samples are pending following completion of the sampling program.
VAL’s Australian Stock Exchange-listed price was trading at 1.5c (7:10 am UTC+8)