Valor is planning to drill a newly identified large porphyry copper target at its Picha project in Peru that is supported by surface channel sampling.
The target was identified from the company’s 2021 induced polarisation survey and stretches about 2km in a north-south direction and is 2km across at its widest point.
Adding to its potential, channel sampling in the area returned results such as 41.6m grading 1.12% copper and 22.8 grams per tonne (g/t) silver (Cobremani), 17.6m at 1.95% copper and 29.5g/t silver (Maricate), and 32.85m at 0.61% copper and 209.76g/t silver (Cumbre Coya).
Valor Resources (ASX:VAL) says the anomaly reflects potential sulphide mineralisation at depth relating to a large porphyry body and plans to carry out 5,000m of diamond drilling to test the Cobremani, Maricate and Cumbre Coya targets.
Pic: Supplied
“The Picha Project is an exciting copper-silver project in a world class gold-copper-silver province, with Peru being the world’s second largest producer of both copper and silver,” executive chairman George Bauk said.
He added that results from the channel sampling have been integrated with the results from the IP and magnetic survey to develop a robust 3-D geological model.
“The results from the program so far are truly exciting and we are chomping at the bit to keep pressing forward,” Bauk concluded.
Picha currently covers a total area (in both granted and applied concessions) totalling 200sqkm about 17km south of Buenaventura’s 2.5Moz San Gabriel gold porphyry project.
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.
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