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Stellar results drive Peruvian project expansion

19 January 2022 19:49
ASX:THB

It is just over a month since Valor reported extended surface mineralisation, propelling the company’s beliefs in the existence of an extensive underground porphyry system lapping the boundary of southern Peru’s 3000-hectare Picha copper-silver project.  

The expanded landholdings, swollen to around 200 square kilometres, lay just 17 kilometres south of Buenaventura’s 2.5-million-ounce San Gabriel Gold Porphyry project, including a new target area Chullunquaini, the location of historic mine works.  

New target areas include the Occsani and Ichocollo sites and visual sulphides observed at the existing Huancune target to the southwest.  

Exploration is permitted to commence at the nine mining concessions already granted, where fieldwork will start next quarter, with a further seven awaiting approvals.  

Copper is a critical mineral in a global push towards net-zero emissions, and the large South American nation holds 13 per cent of international reserves.  

The company is already advancing for the year, with drilling permitting underway. 

An archaeology study of the project is also under governmental consideration, with an environmental review planned for later this month.

VAL’s Australian Stock Exchange-listed price is trading at 1.5c (11:45 am UTC+8 hours) 

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