Valor Resources Ltd (ASX:VAL) has signed a contract with AKD Drilling to conduct the 2018 drilling campaign at its flagship Berenguela Copper-Silver Project in Peru.
The 7,000-metre program will include 3,000 metres of diamond drilling at the Corona target.
The Corona discovery indicates a possible extension to the existing Berenguela central deposit located 1,500 metres away.
Pre-drilling exploration at Corona has identified at-surface copper and silver mineralisation as well as significant cobalt anomalies.
READ: Valor Resources continues to identify copper and silver at surface at project in Peru
The first drill rig is expected to be mobilised in the month of June 2018.
The average depths of drilling at Corona and Berenguela will be 150 to 250 metres with drilling at the Berenguela central deposit going as deep as 500 metres.
Valor’s chairman Mark Sumner said: “The discovery of high grades at our Corona target has resulted in the reshaping of our exploration and drilling strategy, as the area is larger and more prospective than originally indicated.
"The current program design will allow us to drill test Corona copper-silver-manganese-cobalt targets, as well as test deeper targets within Berenguela Central.
"The high-grade nature of the Corona mineralisation at surface, coincident with the geophysical (IP) anomaly is exciting and drilling will allow us to quantify the potential of this deposit.
"Deeper targets at Berenguela Central also need to be tested to better define the vertical extent of the copper-silver deposit, especially where historical drillholes finished in mineralisation.
“…just a small piece of a much larger mineralised copper system.”
"The potential at Corona is extraordinary and we believe the targets delineated will support the Company’s thesis, that Berenguela Central is just a small piece of a much larger mineralised copper system.”
Final draft of scoping study received
Valor has received a final draft of a revised scoping study, which is expected to be released next month in June.
The release has been delayed because some of the input parameters had been changing positively due to the aggressive nature and speed of exploration developments at Berenguela and Corona.
