Valor’s recent rock chip sampling program has identified additional copper targets at its Picha project in Peru with assays of up to 3.95% copper and 229g/t silver.

Additionally, three of the four channel samples at the Huancune target returned results of more than 1% copper while sampling at the new Pacojahua target 2km to the southwest returned up to 0.82% copper and 47.7g/t silver.

This follows on the spectral study carried out on the rock chip samples that identified five anomalies which are indicative of alteration zones proximal to rich and highly sought-after porphyry-type deposits.

Valor Resources’ (ASX:VAL) executive chairman George Bauk said the results continue to demonstrate that strong copper mineralisation extends to the north and south of the original Picha mineralisation with a strong trend running through the project area to Buenaventura’s San Gabriel project.

“In the past few weeks we have seen the San Gabriel Project (7.6 Moz copper equivalent Indicated and Inferred Resource) receive mining approval from the relevant authorities which provides Buenaventura with a green light to proceed with the development of this project, which is located within 10km of the Picha Project,” he added.

“Work continues with field work on the Picha Project along with working on the permitting process for the commencement of our maiden drill program this year.”

Rock chip sampling uncovering more copper

Of the nine rock chip samples taken at Picha, four channel samples were sourced from Huancune, three channel and one chip sample from Pacojahua and one rock chip sample from Ajencorani.

At Huancune, three of the samples were taken within 10m of each other while the other channel sample taken 350m to the south returned an assay of 1.17% copper.

Meanwhile, all three channel samples at Pacojahua were taken from historical workings with assays returning up to 0.82% copper and 47.7g/t silver, though the rock chip taken about 650m to the east did not return any significant results.

An anomalous result of 282 parts per million copper and 388ppm zinc were returned from the lone rock chip at Ajencorani, which is located in the northeast corner of the project. Further sampling is required at this location.

Next steps

Permitting to allow Valor to start drilling in the September quarter is well underway.

In the meantime, the company will continue with geological mapping, surface sampling and ground geophysical surveys over the Pacojahua, Huancune, Occsani, Ichucollo, Chullunquiani and Ajencorani target areas.




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.