View of Picha Project, Peru. Source: VAL
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  • Valor Resources (VAL) receives assays for its wholly-owned Peru-based, silver and copper Picha project
  • The company conducted the final round of geochemical surface sampling at the project in November and sent 123 samples for testing
  • An IP survey has so far suggested the continuation of a prominent 1.2-kilometre by two-kilometre geophysical anomaly which leans towards the south
  • According to the announcement, the previously predicted area of mineralisation has been extended at the Cumbre Coya, Maricate and Fundicion target areas
  • Valor shares are trading grey at 1.3 cents a share

Valor Resources (VAL) has returned assays for its wholly-owned, Peru-based, silver and copper Picha project.

The company conducted the final round of geochemical surface sampling at the project in November and sent 123 samples for testing.

The ground geophysical surveys will continue with the ground magnetic survey completed and the Induced Polarisation (IP) survey around 70 per cent done.

The IP survey has so far suggested the continuation of a prominent 1.2-kilometre by two-kilometre geophysical anomaly which leans towards the south.

According to the announcement, the previously predicted area of mineralisation has been extended at the Cumbre Coya, Maricate and Fundicion target areas.

Picha Project results

Cumbre Coya returned 15.75 metres at 0.7 per cent of copper, 233.2 grams per tonne (g/t) of silver and 2.95 per cent lead.

As well as 7.2 metres at 1.18 per cent of copper and 27.1g/t of silver and 22 metres at 0.25 per cent copper and 6.9g/t of silver.

The Maricate area returned four metres at 1.48 per cent copper and 12.3g/t of silver, two metres at 1.59 per cent of copper and 21.8g/t of silver as well as 22 metres at 0.25 per cent of copper and 6.9g/t of silver.

The third area, Fundicion has reported 0.5 metres at 1.88 per cent copper and 80.9g/t of silver and two metres at 0.75 per cent of copper, 36.1g/t of silver, 1.58 per cent lead and 1.55 per cent zinc.

“These latest exploration results provide further support to our belief that we are dealing with a significant mineralising system at Picha. 2022 promises to be a very significant year in the company’s development as we get to drill test this exciting Project,” Executive Chairman George Bauk said.

“Copper is a key mineral as we strive towards a net zero carbon world and we have uncovered a significant area which requires a drill program to test the copper-silver potential”.

Valor shares were trading grey at 1.3 cents a share at 2:21 pm AEDT.

VAL by the numbers
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