Sign up Australia
Proactive Investors - Run By Investors For Investors

Valor Resources identifies Berenguela style copper-silver mineralisation at Corona

Further sampling results are imminent and drilling is expected to start in April/May.
Map of copper belt in Peru
Management sees the opportunity to add a new deposit to the Berenguela project

Valor Resources Ltd (ASX:VAL) has released the first results from a surface sampling campaign within the Corona area of its Berenguela copper-silver project located in Peru.

Mineralisation has been identified at surface,1,500 metres south-west of Berenguela Central, within the Berenguela concession package.

This discovery indicates a possible significant extension to the existing Berenguela Central deposit.

Similarities in mineralisation

Sampling from Corona confirmed extensive Berenguela-style mineralisation at surface across a substantial area, similar in size to Berenguela Central.

Further sampling results are expected in coming days, and in the interim management has applied for drilling permits.

Opportunity to add new deposit to project

Management sees the prospect of adding a completely new deposit to the Berenguela project.

Mark Sumner, chairman, said: “The high-grade copper and silver mineralisation encountered within the Corona area is indicative of further Berenguela-style, near-surface, mineralisation, less than 1,500 metres from the Central deposit area.

“The outcropping mineralisation at Corona is very similar to the surface outcrops previously identified at Berenguela Central.

“Hence we believe that this is an opportunity to add a completely new deposit to the project within close proximity to Berenguela.

"We believe Corona has the potential to add significant resources to the Berenguela project.”

Near term catalysts

With further sampling results pending, confidence around the potential development of the project could increase.

Having increased the resource at Berenguela by 80% since May 2017, the company has established a positive exploration track record.

READ: Valor Resources' measured resource adds confidence

Management expects to complete the additional sampling and design of the drill program in the coming weeks, and the company will aim to commence drilling in April/May.

View full VAL profile View Profile

Valor Resources Ltd Timeline

Related Articles

project area
13:39
Completion of pre-feasibility study and project costing and economics expected in the third quarter of calendar year 2019.
Graphite drill core samples at Caula Vanadium-Graphite Project
September 17 2018
One of the highest-grade graphite deposits in the world with grades up to 28% total graphitic carbon.
1537926138_cobalt-on-periodic-table.jpg
September 26 2018
Mt Gilmore Project and the Cobalt Ridge cobalt prospect are priority focuses for the company which will present at the RIU Resources Investor Roadshow in Melbourne tomorrow.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use