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Valor show prolific porphyry

26 October 2022 10:49
ASX:THB

Valor Resources have once again grown Picha’s large-scale copper potential, unveiling two substantial induced polarisation anomalies at the Peruvian project.

Identified at the Ichucollo and Huancune targets, the new anomalies raise the total strike length of IP targets to six kilometres and further add to a cluster of delineated targets.

The new anomalies are also coincident with surface copper mineralisation, with previous surveys of Ichucollo showing an 18 metre-long zone of mineralisation averaging 1.45 per cent copper, with shallow targets making for easy drill testing.

Huancune has notably seen several rock chip and channel samples return assays up to 3.95 per cent copper and lies only 14 kilometres from the 7.6 Moz San Gabriel gold-copper project.

The company said with new results combined with its industrious work over the past year and a half, Picha stands drill ready.

“The results of the September IP survey represent the cherry on the top of what is potentially a fantastic large-scale system,” executive chairman George Bauk said.

“The delineation of two strong IP anomalies at Ichucollo and Huancune, coincident with extensive surface copper anomalism in the form of channel samples and rock chips, has increased the total strike length of IP targets to 6km. As a result, we now have an incredible pipeline of targets to test with the drill rig!”

Valor is working on approvals for Picha’s maiden drill campaign, hoping to have the rig on site early next year.

VAL’s Australian Stock Exchange-listed share price has risen 16.66 per cent today, selling at 0.7c (9:30 am UTC+ 8 hours).

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