Valor Resources Limited (ASX:VAL) (“Valor” or the “Company”) is pleased to announce the final results of the Induced Polarisation (IP) and ground magnetic survey completed at the Picha Project in late 2021. The IP survey comprised 57-line km and the ground magnetic survey was 204 line km covering most of the area of the granted mining concessions. This data has been integrated with geological mapping to develop a 3D- geological model which, along with the surface geochemical sampling, is being used to determine targets and drill hole locations.


  • Large IP anomaly identified based on Valor’s 2021 Induced Polarisation (IP)/Resistivity survey.
  • The IP anomaly is approximately 2km long in a north-south direction and 2km across at its widest point (NE-SW orientation).
  • Target supported by surface mineralisation identified in 2021 field program comprising over 400 samples including channel samples of:
    • 41.6m @ 1.12% Cu and 22.8g/t Ag(Cobremani),
    • 17.6m @ 1.95% Cu and 29.5g/t Ag (Maricate) and
    • 32.85m @ 0.61% Cu and 209.76g/t Ag (Cumbre Coya).
  • Maiden 5,000m diamond drilling program planned, targeting both geochemistry and multiple IP geophysical targets.
  • Valor is fully funded for all its planned activities in Canada, Peru and corporately.
The IP survey has outlined a large anomaly in the central and southern portion of the survey area (see Figure 1). The anomaly is approximately 2km long in a north-south direction and 2km across at its widest point (NE-SW orientation). The anomaly reflects potential sulphide mineralisation at depth relating to a large porphyry body. The drilling program will be aimed at testing the surface copper and silver mineralisation located at the Cobremani, Maricate and Cumbre Coya targets representing potential shallower stratabound, polymetallic vein or breccia-type targets as well as testing the expected deeper porphyry target identified by the IP survey.

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