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Valor Resources granted trading halt pending capital raising update

Valor recently revealed high grades of copper, silver and manganese from surface sampling.
capital raising
Advancing the Berenguela project in Peru.

Valor Resources Ltd (ASX:VAL) has been granted a trading halt by the ASX pending the release of an announcement regarding a capital raising.

The halt will remain in place until the earlier of the start of normal trading on Friday, August 3, or when the announcement is released to the market.

READ: Valor Resources identifies high-grade copper-silver-manganese at Corona West

Valor recently revealed high grades of copper, silver and manganese from surface sampling at its Berenguela project in southern Peru.

There were 198 samples taken from outcrops at the newly identified Corona West area, 3.5 kilometres southwest of Berenguela Central and 2 kilometres west of the original Corona discovery.

The samples have verified the presence of high-grade copper, silver and manganese at surface, appearing along a northwest-southeast trend like that of the Berenguela Central deposit.

READ: Valor Resources metallurgical work validates Berenguela project

Valor has also commenced its second stage of metallurgical test work at the Berenguela Project.

The processing flow sheet tested in the first stage recorded strong metallurgical recovery rates for copper 75-80%, silver 80-85% and manganese 85-90% from a 944-kilogram bulk sample.

The second stage of test work is expected to elevate the flow sheet to pre-feasibility study (PFS) level.

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