- Valor Resources (VAL) identifies multiple copper drill targets at its Picha project in Peru
- The targets were identified via ongoing magnetic and induced polarisation (IP) surveys with the IP survey indicating chargeability anomalies at depth
- Drill planning is currently in progress with geophysical targets being incorporated into the program
- Additionally, drill perminning is underway with environmental studies and community engagement in progress
- Shares in Valor are trading flat at 1.5 cents
Valor Resources (VAL) has identified multiple copper drill targets at its Picha project in Peru.
The Picha Project lies in the Moquequa Department of southern Peru and covers an area of 3000 hectares.
These targets were identified via ongoing magnetic and induced polarisation (IP) surveys with the first three lines of the IP survey and 70 per cent of the ground magnetic survey completed.
Valor has received preliminary results from the IP survey which indicate chargeability anomalies at depth associated with the Cumbre Coya, Maricate and Cobremani targets.
The majority of the surface mineralisation at these targets is associated with chalcedony-opaline silica and quartz veins.
Drill planning is currently in progress with geophysical targets being incorporated into the program.
Additionally, drill permitting is underway with environmental studies and community engagement in progress.
Executive Chairman George Bauk called these preliminary results “significant” as they indicate the potential of Picha at depth.
“These preliminary results are significant as it indicates the potential at depth. The new geophysical survey data presented in this announcement shows geophysical anomalies at depth that correlate to surface mineralisation and geology,” Mr Bauk commented.
“The team will continue to undertake ground-based work to firm up drill targets for the project. Results to date are outstanding and we will continue to advance the project in 2022.”
Shares in Valor were trading flat at 1.5 cents at 10:54 am AEDT.