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Valor reveals more Peruvian promise

3 June 2022
ASX: VAL
Jack Baker

Valor Resources has confirmed copper samples above 2 per cent and 929 grams per tonne of silver within five assays containing 60g/t of silver at the Picha project in the South American nation of Peru.

Ground exploration also revealed elevated copper, lead, zinc and in-demand molybdenum from Picha and the recently acquired Charque gold-copper-silver project nearby.

Drilling at Picha is planned for the September quarter. A swag of targets presents the enviable problem of where to hit first over its 3000 hectares of fully-owned exploration concessions.

The company said results from the 2021 exploration had the project shaping up in excitement, even amid a world-class gold-copper-silver province.

“Further targets have now been confirmed at Picha by the exploration team in 2022, with high-grade copper and silver rock chip and channel samples, highlighting just how prospective this project is,” executive chairman George Bauk said.

“Added to this is the new Charaque Project, which is already delivering high-grade silver and lead assays from the initial sampling — the second half of 2022 is promising to be an exciting time for the Company.”

The explorer will continue exploration over Picha and Charaque and expect drill results soon from its Canadian Hook Lake uranium project.

New target results:

Ichucollo: 2.69% Cu, 2.43% Cu, 1.34% Cu, 394ppm Mo

Occsani: 2.14% Cu, 2.48% Cu, 92g/t Ag, 200ppm Mo

Chullanquiani: 5.57% Pb, 5.33% Zn

VAL’s Australian Stock Exchange-listed share price has risen 14.29 per cent today, selling at 0.8c (11.11 am UTC+ 8 hours).

COMPANY OVERVIEW

Valor Resources Limited (ASX:VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities. The Company is focused on two key projects as outlined below in Peru and Canada. Valor’s 100% owned Peruvian subsidiary, Kiwanda SAC holds the rights to the Picha and Corona Projects located in the Moquegua Department of Peru, 17km ENE of the Chucapaca (San Gabriel – Buenaventura) gold deposit. They are two copper-silver exploration projects comprising ten granted mining concessions for a total of 6,031 hectares.

COMPANY INFORMATION

ASX: VAL

Website

https://www.valorresources.com.au/
https://www2.asx.com.au/markets/company/val

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