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- Valor Resources (VAL) gets a fresh batch of results from mapping and sampling at its Picha project in Peru
- The Cobremani target area has returned up to 3.8 per cent copper as well as anomalous lead, molybdenum and zinc
- The Maricate area returns copper peaking at 13.39 per cent with high-grade copper mineralisation identified over a one-kilometre strike
- Mapping and sampling is ongoing at multiple areas of the project and is aimed at better understanding the extent of mineralisation and supporting future drilling
- Company shares are up 7.14 per cent to trade at 1.5 cents at 12:13 pm AEDT
Valor Resources (VAL) has received assays from an ongoing geological mapping and geochemical sampling program at its Picha project in Peru.
In June, the company announced multiple high-grade copper and silver surface sample results from field work undertaken the month prior. To follow up on these, it began a geological mapping and surface sampling program in August with assay results from the first 144 samples now received.
Valor collected 58 channel samples from the Cobremani target area which returned up to 3.8 per cent copper as well as anomalous lead, molybdenum and zinc with assays of up to 1.18 per cent lead, 442 parts per million (ppm) molybdenum and 0.37 per cent zinc.
The assays at Cobremani were highlighted over a 35.6-metre channel sample averaging 1.3 per cent copper and 22.85 grams of silver per tonne (g/t). To the south, is a second channel sample that spans 10 metres which averaged 1.09 per cent copper and 6.36g/t silver.
Valor also collected 37 samples from the Maricate target which is located about one kilometre south of Cobremani. High-grade copper mineralisation spans one kilometre of strike and results include copper grading up to 13.39 per cent with several samples returning over one per cent copper.
Outside the Maricate and Cobremani areas, 49 samples have returned assay results. Although the company didn’t receive any assays greater than 0.5 per cent copper from, it did see assays of up to 72.8g/t silver, 696ppm molybdenum, 13.8 per cent lead and 0.69 per cent zinc.
Executive Chairman, George Bauk, was pleased with the results.
“These results have highlighted the copper mineralisation potential, at surface, of the project. The work completed to date by our team in Peru has confirmed widespread copper mineralisation across the property,” he said.
“We will follow up these outstanding copper results with ground-based geophysics then leading to drilling”
There are currently another 152 samples submitted for assays, most of which are from the Cumbre Coya and Maricate target areas.
Valor will continue mapping and sampling to define the full extents of mineralisation and refine targets for future drilling.
Company shares were up 7.14 per cent to trade at 1.5 cents at 12:13 pm AEDT.
