ValOre Bolsters Technical Team and Provides Update on Pedra Branca PGE Project Drill Program
June 18, 2020
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX‐V: VO; OTC: KVLQF; FRANKFURT: KEQ0) ValOre today announced a significant strengthening of the Company’s technical team and an update on the 2020 core drill program for ValOre’s 100%-owned Pedra Branca Platinum Group Element Project (“PGE”, “2PGE+Au”) in northeastern Brazil.
Key Updates on ValOre’s 2020 PGE Exploration Programs:
- ValOre’s technical team grows to include technical advisors Robert A. Brozdowski, Ph.D., P.Geo., Robert Carpenter, Ph.D., P.Geo., and in-country Project Geologist, Thiago Diniz, P.Geo.;
- Selection of Servitec Foraco for upcoming drill program, with mobilization of drill rig and crews initiated immediately, with an expected drill-ready timeline of three weeks;
- For overview of the proposed 2020 exploration program at Pedra Branca, please see ValOre news release from April 27, 2020
“We are very proud of the technical team ValOre has now assembled, including the great minds and highly relevant experience of Dr. Robert Brozdowski and one of ValOre’s founders, Dr. Robert Carpenter. Colin Smith has effectively quarterbacked a world class team of in-house professionals and external consultants that have systematically extracted significant value from the Pedra Branca data set to-date. With the recent addition of the Brazilian expertise of Thiago Diniz, the team is now in the position to deploy a carefully constructed, high impact exploration program at Pedra Branca,” stated Jim Paterson, Chairman & CEO. “We look forward to a productive and safe working relationship with Servitec-Foraco as we commence our highly anticipated drill program at Pedra Branca – a district scale palladium/platinum project in north-eastern Brazil.”
ValOre Bolsters Technical Team
ValOre has added significant strength to the Company’s technical team with consulting exploration geologists and technical/corporate advisors Robert A. Brozdowski, Ph.D., P. Geo., and Robert Carpenter, Ph.D., P. Geo., bringing a combined 55+ years of exploration experience, direct expertise with PGE-enriched ultramafic systems, and a track record of significant discoveries. In addition, ValOre has hired an in-country Project Geologist, Thiago Diniz, M.Sc., P.Geo., to assist in the execution and management of upcoming 2020 exploration programs. They join Colin Smith, M.Sc., P.Geo., who oversees New Project Review for ValOre. See About ValOre’s Technical Team below.
2020 Drill Program Update
ValOre has an agreement with drilling company Servitec Foraco Sondagem SA (“Servitec-Foraco”) to complete a 6,000 metre core drill program at Pedra Branca. Mobilization of a drill rig and crews will commence immediately, with an expected start of drilling in 3 weeks for the fully permitted, two-Phase program (Phase 1 and Phase 2 totaling 2,875m and 3,035m, respectively).
About Servitec-Foraco Sondagem SA
Servitec-Foraco is a Brazilian company based in the State of Goiás that started operating as Servitec in 2000 and through innovation, investment, and continuous improvement, emerged as one of the pioneers of drilling in Brazil. With a prominent position on the national scene, Servitec was acquired in 2012 by one of the global drilling leaders, Foraco International, forming Servitec-Foraco.
Servitec-Foraco has more than 700 employees and 90 drill rigs, and operates throughout Brazil with clients such as Nexa Resources S.A., NX Gold S.A., Lundin Mining Corporation, CMOC Brasil. Servitec-Foraco is committed to conducting drill programs with high levels of productivity, safety and respect for the environment and legislation.
ValOre and Servitec-Foraco COVID-19 Protocols
ValOre and Servitec-Foraco are closely monitoring impacts on the companies’ operations and business preparedness plans, as the health and safety of employees, contractors and associated communities is a top priority.
As part of the safety protocol, the companies have implemented screening procedures, daily temperature monitoring, self-assessment checklist and issued directives regarding social distancing to ensure a safe environment for operations.
Servitec-Foraco has an extensive procedural guide on hygiene and conduct to be adopted on a daily basis during and after work hours.
These decisions reinforce the companies’ objective of preventing the transmission of COVID-19 among its employees, contractors and the communities proximal to drilling activities.
About ValOre’s Technical Team
Robert A. Brozdowski, Ph.D., P. Geo., Consulting Exploration Geologist
Dr. Brozdowski has more than 30 years of diverse exploration experience emphasizing Ni-Cu-PGE in magmatic conduits, zoned and layered intrusions, but also including orogenic gold, uranium, VMS, SEDEX, and IOCG deposits. He worked for Callahan Mining Corp. from 1983-1991 and subsequently with Western Mining Corporation (later WMC) from 1992-1998 with a focus on generative and early stage exploration. As a consulting exploration geologist since 1998, Bob has been involved in regional project generation, integrated regional field programs, and property-scale exploration projects for major, junior and private clients in North and South America, Asia and Europe and was granted hisPh.D. Geology from Western University, London, ON, his M.A. Geology fromTemple University, Philadelphia, PA), and a B.S. Geosciences from Pennsylvania State University.
Robert Carpenter, Ph.D., P. Geo., Consulting Exploration Geologist
With over 25 years of technical and executive experience for junior and major mining companies, Dr. Carpenter was co-founder and President and CEO of Kaminak Gold Corporation from 2005 to 2013 and led the company through the acquisition, discovery and maiden resource of the 5 million ounce Coffee Gold Project, located in the White Gold District, Yukon. This project was subsequently acquired by Goldcorp Inc. in 2016. Rob was also a founder of ValOre’s predecessor company “Kivalliq Energy Corporation”, when Kivalliq Energy was spun out of Kaminak via a plan of arrangement in 2008; thus his history with ValOre and his significant executive experience make him a trusted corporate advisor.
Dr. Carpenter has received awards from the Association for Mineral Exploration of British Columbia for excellence in mineral exploration (2013) and social and environmental stewardship (2008). In 2004, he completed his Ph.D. at Western University, London, Ontario where he worked on the newly discovered Meliadine Lake gold deposits that are currently owned by Agnico Eagle Mines Limited.
Thiago Diniz, M.Sc., P.Geo., Project Geologist
Mr. Diniz is a Brazilian exploration geologist with 7 years of experience working on the exploration and development stages of fertilizer, base and precious metals projects, both in Brazil and Canada. Thiago holds a B.Sc. degree in Geology from Universidade Federal de Minas Gerais (2013) and obtained a M.Sc. degree in Economic Geology at Queen’s University, Kingston, in 2019. Former Geologist for the Canadian Forbes & Manhattan Group in Brazil, he participated on the resource delineation of the world-class Autazes Potash deposit, in the Amazon region, and the carbonatite-hosted Três Estradas phosphate deposit, in southern Brazil. Most recently, he has actively been involved on the resource expansion of the Troilus Au-Cu deposit, hosted in the Archean Frotet-Evans greenstone belt, in Quebec, Canada. Thiago has acquired extensive experience in field mapping and core logging, development and management of drilling, QA/QC and geochemical sampling programs, as well as metallurgical and geotechnical sampling for pre-feasibility and feasibility studies. He is a practicing member (P.Geo.) of the Professional Geoscientists of Ontario.
Colin M. Smith, M.Sc., P.Geo., New Project Review
Mr. Smith is a P.Geo. in British Columbia, Saskatchewan, and the Northwest and Nunavut Territories with over 15 years’ experience developing, executing, and managing exploration campaigns ranging from green-fields target generation to near-mine resource delineation. He has developed a technical expertise in structurally controlled gold deposits, PGEs, porphyry Cu-Au systems, kimberlites, unconformity-hosted uranium and coal-bed methane. Colin obtained his B.Sc. in Geology from the University of British Columbia, his M.Sc. in Geology from the University of Victoria. His most recent role was Senior Exploration Geologist with SSR Mining Inc. at their Seabee Gold Operation in northern Saskatchewan, where he designed and advanced green- to brown-fields exploration programs, resulting in multiple auriferous discoveries and definitive resource delineation.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., who oversees New Project Review for ValOre.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8.For disclosure related to the inferred resource of ValOre's Lac 50 Trend uranium deposits, please refer to ValOre's news release of March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
On behalf of the Board of Directors,
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals Corp. or this news release, please visit our website at www.valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at [email protected].
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This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of the Company and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.