- Valor Resources (VAL) secures additional concessions in an area considered prospective for gold, copper and silver in Peru
- The eight new concessions cover an area of approximately 6000 hectares and are located around 30 kilometres northeast of the company’s Picha Project
- The new project, dubbed the Charaque Project, is considered prospective for stratabound, epithermal, and porphyry style polymetallic mineralisation
- Valor says it intends to begin systematic on-ground exploration at Charaque while waiting for the permitting process to be completed for the maiden drilling program at Picha
- Valor Resources ends the day in the grey with shares trading at 1.1 cents
Valor Resources (VAL) has secured additional concessions in an area considered prospective for gold, copper and silver in Peru.
The eight new concessions cover an area of approximately 6000 hectares and are located around 30 kilometres northeast of the company’s Picha Project.
The new project, dubbed the Charaque Project, is considered prospective for stratabound, epithermal, and porphyry style polymetallic mineralisation.
Within the area lies evidence of historical mine workings, believed to date back to the Spanish colonial era more than 500 years ago, which extend over an area of one kilometre in length.
“This project compliments our Picha Project and provides the company with an outstanding portfolio of projects in this highly prospective area,” Executive Chairman George Bauk said.
Valor said it intends to begin systematic on-ground exploration at the Charaque Project while waiting for the permitting process to be completed for the maiden drilling program at Picha.
The permitting process is said to be well underway with the company still expecting to commence drilling at Picha in the September quarter.
Valor Resources has ended the day in the grey with shares trading at 1.1 cents