Rock chip sampling at Valor’s Peruvian projects has confirmed a number of new targets ahead of its maiden diamond drilling program that will start in the September quarter.

Channel sampling at the Ichucollo, Occsani and Chullunquiani targets at its Picha project returned assays of up to 2.69% copper, 5.57% lead, 5.33% zinc, 92 grams per tonne (g/t) silver, and 394 parts per million molybdenum.

High grades of lead and silver – topping up at 929g/t silver and 19.5% lead – were also returned from sampling at the Huallatani and Arco targets at the Charaque project.

Valor Resources (ASX:VAL) executive chairman George Bauk says the PIcha project is shaping up as an exciting copper-silver project in a world class gold-copper-silver province.

“The results of the 2021 exploration program completed by our Peruvian team have been exceptional, which has led to the definition of a significant number of drill targets, with Phase one comprising 8 holes to an average depth of around 600m,” he added.

“Further targets have now been confirmed at Picha by the exploration team in 2022, with high-grade copper and silver rock chip and channel samples highlighting just how prospective this project is.

“Added to this is the new Charaque Project, which is already delivering high-grade silver and lead assays from the initial sampling.”

Flipping through the channels

The company took 15 samples at Picha, three from the Huancune and the rest from the new targets.

At the Ichucollo target, three channel samples returned up to 2.69% copper while two of the three selective samples returned assays of 2.43% and 1.34% copper.

The third selective sample returned an assay of 394ppm molybdenum.

At Occsani, which is about 1km west of the Cobremani drill target, one channel sample assayed 2.14% copper while a selective rock chip returned 92g/t silver, 2.48% copper and 200ppm molybdenum.

Meanwhile, two channel samples taken at Chullunquiani – about 5km northeast of the Cumbre Coya drill target – returned high-grade lead and zinc assays.

At the Huancune target, where previous channel sampling had returned assays of up to 3.95% copper, all three new channel samples returned +1% copper assays with a top results of 2.82% copper.

Sampling at the recently acquired Charaque project about 30km to the northeast has also returned intriguing results.

Six samples of dump material at the Huallatani target area, which contains a number of historical workings, returned assays of up to 43.2g/t silver and 0.58% zinc while a channel sample of an outcrop assayed 538g/t silver and 19.5% lead.

Channel sampling at the Arco target was also focused on historical mine workings, with assays of up to 929g/t silver, 0.98% copper and 1.62% lead.

What’s on the cards?

Valor is currently advancing the permitting process for 5,000m of diamond drilling at Picha.

It will continue to carry out geological mapping, surface sampling and ground geophysical surveys over the new target areas with an initial focus on the Ichucollo area.

At the Charaque project, systematic on-ground exploration will continue with geological mapping and geochemical surface sampling.



This article was developed in collaboration with Valor Resources, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.