Channel sampling indicating that copper mineralisation is present along a strike of over 350m has highlighted the potential of Ichucollo as a drill target within Valor’s Valor’s Picha project.

Results such as 12m at 1.1% copper and 5.3 grams per tonne (g/t) silver, 30m at 0.79% copper and 7.56g/t silver, and an 18m zone of stratabound or “manto-type” mineralisation averaging 1.45% are certainly enough to get pulses racing.

And that’s even before considering the evidence of intrusive activity in the area – in the form of magmatic breccias with intrusive clasts – suggesting that Ichucollo is close to a porphyry body, one of those easy-mining, large-volume types of mineralisation that are responsible for some 60% of the world’s copper.

Small wonder then that Valor Resources (ASX:VAL) is stepping up its game at the target with plans to carry out an induced polarisation/resistivity survey in August alongside further surface sampling and mapping.

“The latest assay results again demonstrate the untested potential of the Picha Project with widespread copper mineralisation discovered across the new Ichucollo target area,” executive chairman George Bauk said.

“The evidence continues to mount that we have an exceptional project with large scale porphyry copper potential. Approvals for the maiden drilling program at Picha continue to advance with the current expectation that drilling will commence in October.

“Due to the timing of the approvals process, the maiden drilling program will not include Ichucollo, but following the ground geophysics survey there in August, we expect to be drill testing this exciting new target early next year.”

This eagerness to drill test Ichucollo is easily explained with Bauk noting that it is developing into the best target the company has out of the seven it has identified to date at the project in southern Peru.

“Several analogues have been drawn with the San Gabriel deposit located within 7km of the southwest corner of our tenement holding and along a regional fault structure,” he explained.

Valor Resources picha targets
Picha project conceptual exploration model. Pic: Supplied

Targets aplenty

Ichucollo is northeast of the Cobremani, Maricate, Fundicion and Cumbre Coya drill targets, all of which are scheduled to be tested by the company’s maiden diamond drill program in October.

It has been the focus of surface sampling and mapping in the last three months and is believed to have the potential for epithermal polymetallic vein mineralisation, stratabound mineralisation and at depth, carbonate replacement deposits (CRD) and porphyry copper mineralisation.

Nor is Valor done with finding new targets at Picha.

Rock chip sampling has returned assay results of up to 6.78% copper and 25g/t silver at the potential Uturucuy target area about 4.5km from Cobremani.




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.