The Peruvian Ministry of Energy and Mines (MEM) has approved Valor Resources’ Environmental Impact Statement or Declaracion de Impacto Ambiental (DIA), allowing for up to 120 holes to be drilled across multiple targets at the Picha Copper Project. 

The DIA includes social stakeholder mapping as well as flora and fauna, anthropological and hydrological studies, with agreements with landowners already in place for a period of five years.

Valor Resources (ASX:VAL) will now apply for Authorisation to begin drilling (Autorización de Inicio de Actividades de Exploración) which is subject to a standard preliminary review by MEM on the possible presence of Indigenous communities within the exploration area.

Keen to kick off drilling asap

The maiden proposed program will comprise 5,000m of diamond drilling on four key targets – Cobremani, Cumbre Coya, Maricate and Fundicion.

“Valor has developed an incredible pipeline of large-scale, high-impact porphyry and epithermal targets across the Picha Project tenements,” executive chairman George Bauk said.

“We can’t wait now to secure our final drilling permits, which will allow us to get on the ground and move ahead with our planned maiden 5,000m drill program.”

Valor Resources ASX VAL
DIA approved area. Pic: Supplied

“With up to 120 holes approved, the start of this program will signal the beginning of a transformational period for all of our key stakeholders,” Bauk added.

The company has determined a short-list of drilling contractors and aims to kick off logistics planning shortly.




This article was developed in collaboration with Valor Resources Limited, 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.