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Valor Resources Ltd

Valor Resources drill rig mobilising to site

Drilling is testing a number of high-grade extensions to the Berenguela central deposit.

The Sandvik DE710 diamond drilling rig
The Sandvik DE710 diamond drilling rig headed to site

Valor Resources Ltd (ASX:VAL) expects the first diamond drill rig to arrive on site at its Berenguela Copper-Silver Project in Peru by 30 June 2018.

The 2018 drill campaign will include 19 holes for a total of 4,000 metres conducted at the borders of the Berenguela central deposit area.

Drilling will test extensions and high grade mineralised intercepts which were left open in the 2017 drill program and better define the vertical extent of the deposit.

READ: Valor Resources secures contractor for 7,000-metre drill program

Valor’s chairman Mark Sumner said: “We are very pleased to commence our highly anticipated 2018 drill program at Berenguela.

“Last year’s results were nothing short of spectacular and we believe that the 2018 targets will further improve the quality of the Berenguela deposit.

“We have an opportunity to test numerous, high-grade extensions of the central deposit, as well as deeper targets which have been left untested in previous campaigns.

“The Central deposit will be further reinforced by the results of the scoping study due out later this month. We are also very excited to mobilise a diamond rig to Corona in the near future, which has the potential to be transformative to the project.”

Second drill rig to also be mobilised

A second rig will be mobilised to drill a further 20 holes, for a total of 3,000 metres across the new Corona discovery area.

The 3,000 metres to be drilled at Corona will target high-grade, Berenguela-style mineralisation, as well as cobalt anomalies.

Quick facts: Valor Resources Ltd

Price: $0.01

Market: ASX
Market Cap: $9.47 m
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