logo-loader
Valor Resources Ltd

Valor Resources outlines pathway for pre-feasibility study completion

The pre-feasibility study is expected to be complete in the September quarter 2019.

maps of peru showing project location
Berenguela hosts a copper, silver, zinc and manganese resource

Valor Resources Ltd (ASX:VAL) recently elected to proceed with a pre-feasibility study (PFS) for its Berenguela Project in Peru.

The decision was a direct outcome of the  results received last week from a positive scoping study that highlighted a shallow, open-pit, high-grade resource with a low strip ratio.

READ: Valor Resources moving to the next stage in Peru after positive scoping study results

There are three principal work streams to be undertaken in the short term to progress the PFS to completion.

Firstly, process de-risking which will involve scaling up the treatment process to a mini-pilot plant, which will be done independently.

Secondly, process design and infrastructure which will be supported by metallurgical test work.

Thirdly, mine planning which will be supported by geotechnical and rock mechanics studies for pit design and production scheduling, eventually to generate an ore reserve estimate.

 

Drill programs also planned

While the Berenguela Central deposit is the focus of the PFS, Valor intends to progress its valuable exploration targets which include Corona, Corona West and Berenguela Deeps.

The 2018 drilling program has been redesigned so that the core focus is on the PFS but around 1,000 metres will still be drilled to provide core samples for test work.

New executive director appointed

Dr Nicholas Lindsay has been appointed to the company's board as an executive technical director.

Dr Lindsay has been instrumental in the finalisation of the recent scoping study and the structuring of the immediate technical plans.

Additionally, as part of the company's commitment to efficiencies, the board has taken 25-50% fee reductions for this financial year.

 

Quick facts: Valor Resources Ltd

Price: $0.01

Market: ASX
Market Cap: $9.47 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mining Capital's Alastair Ford charts continued strength in gold price

Mining Capital's Alastair Ford addresses suggestions gold could be heading towards a new high of $2000/oz. ''I think that's quite an ambitious target to be setting at this point ... the next breakout number $1525/oz and thereafter the chartists will look for something like $1560/oz''. ''If...

2 days, 16 hours ago

2 min read