- Valor Resources (VAL) receives results from a further 137 surface samples from its Picha Project in Peru
- The samples were collected from the Maricate and Cumbre Coya areas with 48 of them returning more than 0.5 per cent copper
- Overall, grades peaked at 4.56 per cent copper, 188.79 g/t silver and 8.45 per cent lead
- Further sampling is currently underway at both Maricate and Cumbre Coya with ground geophysics and drilling being planned as follow-up
- Valor is up 8.82 per cent on the market with shares trading at 1.9 cents
Valor Resources (VAL) has received results from a further 137 surface samples from its Picha Project in Peru.
The Picha Project lies in the Moquegua Department of southern Peru and covers an area of 3000 hectares.
Geological mapping and sampling began in August with assay results for the first 144 samples reported on in October.
These results came from the Cobremani and Maricate target areas, with 34 of the samples intersecting more than 0.5 per cent copper and up to 13.39 per cent copper.
New results come from 137 samples collected from the Maricate and Cumbre Coya areas with 48 of the samples returning greater than 0.5 per cent copper.
Cumbre Coya
Of the 137 samples collected, 83 came from Cumbre Coya with 31 returning more than 0.5 per cent copper.
Best results include 16 metres at 0.49 per cent copper, 188.79 grams per tonne (g/t) of silver and 8.45 per cent lead, plus 2.5 metres at 4.56 per cent copper, 10.06 g/t silver and 5.68 per cent lead.
Additionally, up to 287 parts per million (ppm) molybdenum and 0.36 per cent zinc was intersected.
These results have confirmed Cumbre Coya to be a high priority drill target.
Maricate
The remaining 54 samples came from Maricate with 17 intersecting more than 0.5 per cent copper.
Best results include 17.6 metres at 1.95 per cent copper and 29.5 g/t silver, including 10 metres at 2.95 per cent copper and 47.8 g/t silver, and four metres at 1.38 per cent copper and 241 g/t silver.
“The Picha Project continues to exceed expectations. The latest results confirm the enormous potential of the area,” Executive Chairman George Bauk said.
“We now plan to move rapidly towards the next phase with drilling preparations already underway. We have broadly identified our drilling target priorities and have now commenced the permitting process working with local authorities and the community.”
Further sampling is currently underway at both Maricate and Cumbre Coya with ground geophysics and drilling being planned as follow-up.
Valor was up 8.82 per cent on the market with shares trading at 1.9 cents at 12:32 pm AEDT.