Valor Resources expands Peru landholding following high-grade copper-silver assay results

Valor Resources Ltd (ASX:VAL) (FRA:LFY) has expanded its landholding around its existing mining concessions following the recently completed initial technical review of the Picha Project, where initial assays delivered strong high‐grade results.  Applications have been submitted for an additional 14 mining concessions and the company has executed an option agreement for an additional two mining concessions in prospective areas surrounding its existing landholding.  This new expansion covers a total of 14,500 hectares (145 square kilometres), along with the existing four granted mining concessions, which cover 2,000 hectares (20 square kilometres). “Significant land position for exploration” Valor executive chairman George Bauk said: “Expanding our landholding by over 700% was an obvious step with the outstanding results announced on June 2nd, 2021. “The new project area provides the company with a significant land position to continue our exploration for further copper and silver exploration success.”   Notable channel and rock chip sample assay results from the technical site visit to the Project included: 563 g/t silver, 1.11% copper and more than 20% lead ‐ Channel; 444 g/t silver, 2.84% copper and 0.9% lead ‐ Rock chip; 89.7 g/t silver and 6.04% copper ‐ Channel; and 65.6 g/t silver and 4.97% copper ‐ Channel. “Right place, right commodities, right time” Bauk said: “Peru is the third largest producer of copper and silver in the world. “Copper is a key critical component in our pathway to reducing carbon emissions. “Results last week demand immediate follow up. “Right place, right commodities and right time.” “The company now has two exciting projects both being right place, right commodities and right time, with the Picha Copper Silver Project in Peru and our Hook Lake/Cluff Lake Uranium Projects in the Athabasca Basin in Canada.”  Picha Project mining concessions and geology Further field work planned The field evidence to date indicates that the Picha mineralisation is similar to other copper‐silver strata-bound deposits in Peru and Chile, such as the Tacaza Mine, 60 kilometres northwest of Picha, and the El Soldado deposit in Chile, which are mainly hosted in andesitic volcanics. The company intends to commence further fieldwork at Picha in July, along with the ongoing desktop review involving compilation of all available historical data. Follow up work includes: Detailed geological mapping of both volcanic and sedimentary lithologies with a focus on identifying units with the potential to host economic mineralisation similar to known stratabound ore deposits in the area; Geochemical sampling of all targets in order to define the extent of the mineralisation; Modelling geochemical results including lithology, alteration, structure, and mineral associations to aid in further target identification; and Determining drill targets based on the above, plus the geophysical compilation generated in the desktop review and carry out an initial diamond drill program.