Valor picks up more exploration ground in Peru

Buoyed by its exploration results to date, Valor has moved to expand its Peruvian footprint with the application of the 60sqkm Charaque project.

Charaque, located just 30km northeast of the company’s Picha project, is located along a regional northwest-southeast geological trend which hosts several deposits and prospects.

It also hosts historical workings, some of which were mined as far back as 500 years ago.

Valor Resources (ASX:VAL) chairman George Bauk said the new project complements Picha, where recent sampling returned assays of up to 3.95% copper and 229 grams per tonne (g/t) silver, and provides the company with an outstanding portfolio of projects in a highly prospective area.

“In the past few weeks, we have seen mining approvals for the San Gabriel Project (owned by Buenaventura) which is located within 10km southwest of our Picha project,” he added.

Valor Resources VAL — Picha and Charaque Projects. Pic: Supplied

Proven potential

Charaque lies along a regional northwest-southeast geological trend which includes the Arasi and Jessica mines (owned by Aruntani SAC), the El Cofre polymetallic mine (owned by CIEMSA), the Austral – Challhuani Project and Barrick’s Ichuravi project.

Two rock chips taken from the old mine workings returned up to 134g/t silver and 1.4% zinc in one of the samples.

Valor plans to start systematic on-ground exploration at Charaque whilst it awaits permitting process for the maiden drilling at Picha to be completed.

It will also continue to carry out geological mapping, surface sampling and ground geophysical surveys over new Pacojahua, Huancune, Occsani, Ichucollo, Chullunquiani and Ajencorani target areas at Picha.

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.