Valor Resources have uncovered many copper target options following ground-based exploration at the Picha copper-silver project in the southern Peruvian mountains of South America.
A spectral study of 74 rock samples – revealing five spectral anomalies –suggested alteration zones close to the world’s second-largest copper producer.
The company said recently granted concessions also showed two new targets across the regional structure.
“Geological studies continue to confirm the significant potential of the Picha copper-silver project,” executive chairman George Bauk said.
“The three highest priority spectral targets coincide with the Cobremani, Maricate and Fundicion targets.”
“What is particularly exciting about this project is the new targets that continue to be identified by the team in Peru, with two new targets already identified in the first field program of 2022.”
Drilling at Picha is planned for the September quarter while the explorer zones in on its Canadian uranium targets.
VAL’s Australian Stock Exchange-listed share price has risen 8.33 per cent today, selling at 1.3c (8.49 am UTC+ 8 hours).