Click on this link to view a short video (2m53s) about the Salvador discovery.
Salvador Highlights
Assay results received for the remaining three core holes drilled at Salvador include:
- 13.5 metres (“m”) of 0.94 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) with mineralization starting from (“from”) 56.5 m, including 5.5 m of 1.39 g/t 2PGE+Au from 56.5 m in drill hole DD23MES06;
- 18.9 m of 0.73 g/t 2PGE+Au from 141.2 m in drill hole DD23MES08.
Rapid acceleration of the target from initial concept to drill discovery was accomplished through cost-effective boots-on-the-ground exploration. The first mineralized rocks assays were received in
Total exploration expenditures at Salvador of
CAD$20,000 of the total spent on field mapping, rock and soil sampling, Trado® auger drilling and trenching;CAD$240,000 spent on core drilling and assay costs.
Highlights from drill holes released on
- 43.85 m of 0.76 g/t 2PGE+Au from 45.25 m in DD23MES01;
- 78.95 m of 0.96 g/t 2PGE+Au from 64.00 m in DD23MES02;
- 49.60 m of 1.25 g/t 2PGE+Au from 47.15 m in DD23MES03;
- 46.05 m of 1.96 g/t 2PGE+Au from 77.15 m in DD23MES04.
Follow-up mapping, soil sampling and Trado® auger drilling are in progress, focusing on the open trends to the north and south of Salvador’s main zone.
“Salvador’s rapid evolution from concept to discovery showcases the excellent prospectivity at Pedra Branca and demonstrates the team’s ability to successfully and cost-effectively advance previously untested zones along the regional
Table 1: Final PGE Assay Highlights (g/t 2PGE+Au) – Salvador Discovery,
Hole ID1 | From (m) | To (m) | Length (m)2 | 2PGE+Au (g/t) | CuS (%)3 | NiS (%)3 | News Release Date |
DD23MES01 | 45.25 | 89.10 | 43.85 | 0.76 | pending | pending | |
80.45 | 86.50 | 6.05 | 1.35 | pending | pending | ||
DD23MES02 | 64.00 | 142.95 | 78.95 | 0.96 | pending | pending | |
64.50 | 106.00 | 41.50 | 1.34 | pending | pending | ||
DD23MES03 | 47.15 | 96.75 | 49.60 | 1.25 | pending | pending | |
55.20 | 71.00 | 15.80 | 2.22 | pending | pending | ||
DD23MES04 | 77.15 | 123.20 | 46.05 | 1.96 | pending | pending | |
79.90 | 81.45 | 1.55 | 5.23 | pending | pending | ||
88.65 | 98.65 | 10.00 | 5.02 | pending | pending | ||
DD23MES06 | 56.50 | 70.00 | 13.50 | 0.94 | n.a. | n.a. | Today |
56.50 | 62.00 | 5.50 | 1.39 | n.a. | n.a. | ||
DD23MES07 | 159.85 | 170.25 | 10.40 | 0.62 | n.a. | n.a. | |
166.35 | 167.10 | 0.75 | 3.29 | n.a. | n.a. | ||
DD23MES08 | 141.20 | 160.10 | 18.90 | 0.73 | n.a. | n.a. | |
148.00 | 152.00 | 4.00 | 1.25 | n.a. | n.a. |
1Assay results reported today: DD23MES06, MES07 and MES08.
2Core assay interval lengths are estimated to represent 80-100% of true width.
3Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS).
Figure 1: 3D view of the Salvador Target, highlighting diamond drill hole locations and 2PGE+Au assay results. Salvador remains open along strike and at depth.
Salvador Discovery – Exploration Program Highlights
Click on this link to view a short video (2m53s) about the Salvador discovery.
ValOre identified Salvador as a high caliber target in January of this year, and rapidly advanced it to a September core drilling discovery through cost-effective, sequential exploration.
Geological mapping, soil sampling and Trado® auger drilling were completed over a strike length of approximately 1.5 kilometres (“km”), with a total of 245 soil samples and 47 rock samples collected, and 98 m of Trado® auger drilled in 23 holes. High-grade surface palladium-platinum mineralization was established along 1.3 km of undrilled trend.
Four trenches were excavated along Salvador’s main zone which exposed and defined chromite-bearing ultramafic rocks (“UMs”), with PGE mineralization reported in all trenches, spanning 400 m of strike length.
Eight core drill holes, totaling 1,056 m were subsequently completed to test the depth potential of surface PGE mineralization at Salvador over the full 400 m trend, with chromite-bearing ultramafic rocks intercepted in 7 of 8 holes, including chromitite reefs, a lithology typically associated with high-grade palladium-platinum values at Pedra Branca. Disseminated base metal sulfide mineralization, typically associated with high-grade Ni and Cu mineralization, was also drilled. Nickel and copper sulfide assays by atomic absorption spectrometry remain pending.
The mineralized UM package at Salvador has demonstrated significant thickness and continuity at depth and warrants additional follow-up core drilling in future programs. The evolution of Salvador from concept to discovery showcases the excellent prospectivity at Pedra Branca and demonstrates the team’s ability to successfully advance previously untested zones along the regional
Leveraging the Company’s strong understanding of the regional and local geology has moved Salvador from concept to the drill-ready stage for less than
Figure 2:
2023 Drill Program Highlights
PGE assay results have now been received from the entire 2023 Phase 1 drill program consisting of 49 drill holes totaling 6,152 metres, including 154 core assay samples from 6 drill holes at Salvador and Ipueiras reported herein (Tables 2 and 3). Still pending are copper (“Cu”) and nickel (“Ni”) assays from 274 samples from 4 holes at Salvador.
Table 2: 2023 Pedra Branca Drilling Totals and Final PGE Assay Status by Zone
Target | Total Drilled (m) | # Holes | # Holes w/ UMs | Total UMs (m) | Core Samples | PGE Assays Received | PGE Assays Pending |
Galante | 790 | 11 | 11 | 190 | 384 | 384 | 0 |
Tróia | 1,029 | 9 | 6 | 72 | 188 | 188 | 0 |
Nambi | 665 | 6 | 6 | 74 | 203 | 203 | 0 |
Ipueiras | 228 | 4 | 4 | 27 | 83 | 83 | 0 |
Massapê | 380 | 4 | 3 | 19 | 48 | 48 | 0 |
Cedro | 545 | 2 | 1 | 4 | 14 | 14 | 0 |
Trapiá 1 | 1,326 | 4 | 4 | 175 | 272 | 272 | 0 |
Trapiá South | 133 | 1 | 1 | 4 | 36 | 36 | 0 |
Salvador | 1,056 | 8 | 7 | 265 | 397 | 397 | 0 |
Total | 6,152 | 49 | 43 | 830 | 1,625 | 1,625 | 0 |
Table 3: Final 2023 Core Assay Highlights by Zone
Target | Hole ID1 | From (m) | To (m) | Length (m)2 | 2PGE+Au (g/t) | CuS (%)3 | NiS (%)3 | News Release Date |
Galante | DD23GE01 | 56.00 | 56.63 | 0.63 | 0.99 | n.a. | n.a. | |
DD23GE02 | 10.25 | 19.30 | 9.05 | 0.35 | n.a. | n.a. | ||
DD23GE03 | 31.50 | 32.35 | 0.85 | 0.57 | n.a. | n.a. | ||
35.00 | 38.02 | 3.02 | 0.15 | n.a. | n.a. | |||
DD23GE04 | 26.65 | 56.60 | 29.95 | 0.33 | n.a. | n.a. | ||
DD23GE05 | 35.60 | 48.70 | 13.10 | 0.30 | n.a. | n.a. | ||
DD23GE06 | 33.00 | 35.55 | 2.55 | 0.63 | n.a. | n.a. | ||
DD23GE07 | 15.00 | 23.60 | 8.60 | 3.18 | n.a. | n.a. | ||
17.90 | 20.00 | 2.10 | 5.26 | n.a. | n.a. | |||
DD23GE08 | 16.70 | 31.50 | 14.80 | 0.15 | n.a. | n.a. | ||
DD23GE09 | 24.55 | 29.65 | 5.10 | 0.49 | n.a. | n.a. | ||
DD23GE10 | 12.20 | 19.25 | 7.05 | 0.16 | n.a. | n.a. | ||
12.20 | 13.25 | 1.05 | 0.39 | n.a. | n.a. | |||
DD23GE11 | 10.60 | 22.70 | 12.10 | 0.25 | n.a. | n.a. | ||
43.00 | 46.90 | 3.90 | 0.43 | n.a. | n.a. | |||
55.00 | 59.00 | 4.00 | 0.22 | n.a. | n.a. | |||
75.30 | 85.40 | 10.10 | 0.60 | n.a. | n.a. | |||
Tróia | DD23TR05 | 22.25 | 26.83 | 4.58 | 0.75 | n.a. | n.a. | |
DD23TR06 | 23.10 | 42.90 | 19.80 | 0.71 | n.a. | n.a. | ||
DD23TR07 | 31.15 | 47.50 | 16.35 | 1.03 | n.a. | n.a. | ||
43.25 | 45.85 | 2.60 | 4.03 | n.a. | n.a. | |||
DD23TR08 | 22.45 | 32.95 | 10.50 | 0.57 | n.a. | n.a. | ||
DD23TR09 | 52.42 | 59.43 | 7.01 | 1.09 | n.a. | n.a. | ||
53.10 | 56.10 | 3.00 | 1.61 | n.a. | n.a. | |||
DD23TR11 | 62.00 | 62.80 | 0.80 | 0.17 | n.a. | n.a. | ||
Nambi | DD23NB02 | 48.64 | 50.33 | 1.69 | 0.56 | n.a. | n.a. | |
DD23NB03 | 40.00 | 42.05 | 2.05 | 0.22 | n.a. | n.a. | ||
DD23NB04 | 32.94 | 56.57 | 23.63 | 1.56 | n.a. | n.a. | ||
34.10 | 42.00 | 7.90 | 2.80 | n.a. | n.a. | |||
DD23NB05 | 238.44 | 243.60 | 5.16 | 0.23 | n.a. | n.a. | ||
DD23NB06 | 62.00 | 66.50 | 4.50 | 0.48 | n.a. | n.a. | ||
DD23NB07 | 22.80 | 24.65 | 1.85 | 0.43 | n.a. | n.a. | ||
Massapê | DD23MS18 | 102.95 | 103.45 | 0.50 | 0.20 | n.a. | n.a. | |
DD23MS19 | 26.00 | 33.90 | 7.90 | 0.27 | n.a. | n.a. | ||
56.00 | 58.00 | 2.00 | 2.50 | n.a. | n.a. | |||
Ipueiras | DD23IP04 | 0.00 | 11.85 | 11.85 | 0.55 | n.a. | n.a. | |
2.65 | 3.55 | 0.90 | 1.58 | n.a. | n.a. | |||
DD23IP05 | 5.00 | 8.05 | 3.05 | 0.22 | n.a. | n.a. | Today | |
DD23IP06 | 6.40 | 7.90 | 1.50 | 0.45 | n.a. | n.a. | ||
DD23IP07 | 11.60 | 13.25 | 1.65 | 0.28 | n.a. | n.a. | ||
Trapiá | DD23TU32 | 283.20 | 296.75 | 13.55 | 0.10 | 0.06 | 0.32 | |
283.70 | 286.80 | 3.10 | 0.22 | 0.21 | 0.95 | |||
294.50 | 295.90 | 1.40 | 0.15 | 0.05 | 0.52 | |||
DD23TU33 | 235.90 | 307.70 | 71.80 | 1.59 | 0.02 | 0.10 | ||
258.85 | 267.00 | 8.15 | 10.54 | 0.11 | 0.37 | |||
259.50 | 260.10 | 0.60 | 46.07 | 0.02 | 0.01 | |||
DD23TU34 | 276.30 | 277.15 | 0.85 | 0.25 | n.a. | n.a. | ||
DD23TU35 | 241.20 | 329.45 | 88.25 | 0.42 | n.a. | n.a. | ||
Salvador | DD23MES01 | 45.25 | 89.10 | 43.85 | 0.76 | pending | pending | |
80.45 | 86.50 | 6.05 | 1.35 | pending | pending | |||
DD23MES02 | 64.00 | 142.95 | 78.95 | 0.96 | pending | pending | ||
64.50 | 106.00 | 41.50 | 1.34 | pending | pending | |||
DD23MES03 | 47.15 | 96.75 | 49.60 | 1.25 | pending | pending | ||
55.20 | 71.00 | 15.80 | 2.22 | pending | pending | |||
DD23MES04 | 77.15 | 123.20 | 46.05 | 1.96 | pending | pending | ||
79.90 | 81.45 | 1.55 | 5.23 | pending | pending | |||
88.65 | 98.65 | 10.00 | 5.02 | pending | pending | |||
DD23MES06 | 56.50 | 70.00 | 13.50 | 0.94 | n.a. | n.a. | Today | |
56.50 | 62.00 | 5.50 | 1.39 | n.a. | n.a. | |||
DD23MES07 | 159.85 | 170.25 | 10.40 | 0.62 | n.a. | n.a. | ||
166.35 | 167.10 | 0.75 | 3.29 | n.a. | n.a. | |||
DD23MES08 | 141.20 | 160.10 | 18.90 | 0.73 | n.a. | n.a. | ||
148.00 | 152.00 | 4.00 | 1.25 | n.a. | n.a. |
1Core assay interval lengths are estimated to represent 80-100% of true width.
2Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS).
Figure 3: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones.
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The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by
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*The 2022 Technical Report is entitled “Independent Technical Report –Mineral Resource Update on the
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Figure 1
Figure 1: 3D view of the Salvador Target, highlighting diamond drill hole locations and 2PGE+Au assay results. Salvador remains open along strike and at depth.
Figure 2
Figure 2: Salvador Target – Timeline to Discovery and Exploration Costs.
Figure 3
Figure 3: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones.
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