Valor Resources Limited (“Valor” or the “Company”) is pleased to announce the results of a spectral data study based on 74 rock samples from the Picha Project which was completed in March. The samples were collected during the 2021 field program and analysed using a TerraSpec-Halo instrument. The instrument is a hand-held near-infrared (NIR) spectrometer that enables the identification of alteration minerals which can be associated with epithermal and porphyry-type mineralising systems.

  • Spectral study of 74 rock samples from the Picha Project indicates alteration zones proximal to porphyry-type deposits – five spectral anomalies identified.
  • Study also identified alteration minerals related to low sulfidation epithermal environments.
  • Ground based exploration continues with work underway on recently granted concessions adjacent to the Picha Project:
    • Two new targets identified along major NE-SW trending regional structure; and
    • Rock chip samples have been taken from new targets including from historical artisanal workings - results due in April.
  • Drill targets near finalisation following additional results from spectral survey; and
  • Drill program approvals well advanced with drilling planned for September quarter.

Figure 1: Picha Project – Spectral Targets and Copper geochemical anomalies

The results of the study were that five spectral targets were identified (see Figure 1 above), with three high priority targets based on the presence of high temperature minerals such as tourmaline and ankerite, along with the presence of Chlorite-Mg, high crystallinity kaolinite and illite with intermediate to neutral pH. These minerals and spectral characteristics are indicative of low sulphidation epithermal mineralisation and porphyry related mineralisation. The two lower priority targets have spectral characteristics corresponding to shallower targets relating to low and intermediate sulphidation epithermal mineralisation. Four of the five spectral anomalies coincide with surface Cu geochemical anomalies.

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