Valor Resources Limited (“Valor” or the “Company”) is pleased to announce the results of rock chip samples taken from new copper targets at the Company’s Picha Project and from targets at the recently acquired Charaque Project in southern Peru. Samples were taken from three new targets at the Picha Project which were first highlighted in the Company’s ASX announcement dated 19th January 2022, titled “Copper-Silver Picha Project landholding expanded following outstanding results from 2021 exploration program. Further samples were also taken from the Huancune target where Valor’s previous channel sampling had returned assays up to 3.95% Cu (see ASX announcement dated 21 April 2022, titled “Additional Copper Targets confirmed with assays up to 3.95% Cu and 229g/t Ag at Picha Project”). The sample details and assay results from the Picha and Charaque Projects are shown below in Tables 1 and 2 respectively.


  • Picha Project – three new targets confirmed
    • Ichucollo Target with channel samples (2m x 0.20m) up to 2.69% Cu and selective rock chips of 2.43% Cu, 1.34% Cu and 394ppm Mo.
    • Occsani Target with channel samples (0.5m x 0.2m) up to 2.14% Cu and rock chip samples up to 2.48% Cu, 92g/t Ag and 200ppm Mo.
    • Chullunquiani Target with channel samples (0.5m x 0.2m) up to 5.57% Pb and 5.33% Zn.
  • Picha Project – Huancune target
    • Further channel samples returned assays of 2.82%, 2.03% and 1.72% Cu
  • Charaque Project
    • Huallatani Target with a channel sample (0.3m x 0.2m) of 538g/t Ag and 19.5% Pb and dump samples, from historical artisanal mining, up to 43.2g/t Ag and 7.74% Pb
    • Arco Target with channel samples (2.0m x 0.2m) up to 929g/t Ag and another up to 0.98% Cu, with five channel samples returning assays greater than 60g/t Ag.
  • Phase one 5,000m maiden diamond drilling program planned to commence in the September quarter, permitting processing advancing subject to government approvals.
  • Follow-up work at new targets to include further surface sampling, geological mapping and ground geophysics