Valor Resources has racked up an enviable list of high-priority polymetallic prospects at its Picha and Charaque projects in Peru.
The company has been toiling away in the rich Peruvian mountains proving up a clutch of new targets after months of groundwork collecting 168 channel and rock chip samples along with bagging 322 soil samples.
First off the ranks is the freshly minted “Cuti” target at the company’s Picha project that coughed up a 6m channel sample running at 0.66 per cent copper and 4.66 grams per tonne silver.
An intriguing gold in soil anomaly has also been outlined over the prospect that extends over 800m in a north-west orientation.
The next newcomer is the Fundición South prospect where Valor has tapped into significant poly-metallic mineralisation including a 2m channel sample coming in at 0.32 per cent copper, 38.9 g/t silver and 3.31 per cent lead.
Cast amongst historical workings, other notable results at the new target include a similar 2m channel sample grading 0.73 per cent copper and 14.2 g/t silver along with a 0.2m channel sample kicking up at 13.9 g/t silver, 7.1 per cent lead and 18.36 per cent zinc.
Cuti and Fundición South add to a growing playbook of high-priority targets the company is eyeing for a maiden 5000m diamond drilling program.
Further channel sampling from its Ichucollo target delivered a raft of notable hits including 24m grading 1.08 per cent copper and 3.9 g/t silver and 13.1m coming in at 1.38 per cent copper and 10.22 g/t silver which includes a higher grade 6m averaging 2.4 per cent copper and 20.21 g/t silver.
The explorer says the latest hits at Ichucollo are coincident with a significant semi-continuous induced polarisation anomaly of around 2.5km in length believed to reflect potential copper-bearing sulphide mineralisation at depth related to a large porphyry body.
Strong numbers from its Maricate target chimed in with a 2m channel sample running at 1.18 per cent copper and 13.9 g/t silver and another coming in at 4m averaging 2.15 per cent copper and 84.5 g/t silver.
Valor’s Fundicion target yielded up to 0.9 per cent copper and 9.67 g/t silver from channel samples. Other specimens from its Cumbre Coya target returned copper values of 1.15 per cent and 1.51 per cent.
Valor Executive Chairman, George Bauk said: “The latest assay results provide further evidence of the enormous untested potential of the Picha Project, with a number of exciting new targets and now a significant gold-in-soil anomaly defined. Approvals for our maiden drilling program at Picha continue to advance with the current expectation that approvals will be received in Q1 2023.”
A duo of samples lifted from the Arco target at Valor’s recently acquired Charaque project have returned assays over 1 per cent lead and 1.36 per cent zinc, adding to previous sampling that boasted grades up to 929 g/t silver.
The company’s Charaque project is nestled amongst giants with NYX-listed Barrick and Teck and LSE-listed Fresnillo all holding commanding landholdings in the region.
Valor sees its Peruvian double act shaping up as an exciting copper-silver venture in a world-class gold-copper-silver province, with Peru ranking as the world’s second largest producer of both copper and silver.
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By Matt Birney
