Valor’s ongoing activities have uncovered further evidence of potential epithermal and porphyry mineralisation at its Picha copper-silver project in Peru.
A spectral study completed in March on 74 rock chip samples collected across the project identified five anomalies that are indicative of alteration zones proximal to porphyry-type deposits.
Porphyry deposits, which make up about 60% of the world’s copper, are much sought after by mineral explorers as they typically feature large volumes of easily mineable ore that more than makes up for their lower grades.
Valor Resources (ASX:VAL) added that three of the five anomalies are considered to be high priority targets due to the presence of high temperature minerals such as tourmaline and ankerite, and other indications of low sulphidation epithermal mineralisation and porphyry related mineralisation.
Additionally, four of the five spectral anomalies coincide with surface copper geochemical anomalies including the Cobremani, Maricate and Fundicion targets.
The identification of spectral anomalies follows channel sampling that identified a large porphyry copper target earlier this year.
Executive chairman George Bauk said that geological studies continued to confirm the significant potential of the Picha copper-silver project.
“Multiple workflows are currently underway focusing on the approval process for the drilling program planned for the September Quarter. In parallel to this, work has commenced on our recently granted concessions which are adjacent to the Picha project,” he added.
“The team is finalising the drill targets, with a significant number identified across the project area through the work program completed in 2021. The challenge now is to prioritise the targets and chose which holes are to be drilled first.
“What is particularly exciting about this project is the new targets that continue to be identified by the team in Peru, with two new targets already identified in the first field program of 2022.
“We look forward to the results from these targets and for more news on additional targets.”
Upcoming activity
Valor is close to finalising drill targets following the receipt of results from the spectral survey.
It is now progressing drill program approvals with drilling planned for the September quarter.
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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