Valore Metals Corp. (“ValOre” or “the Company”; TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0) today announced the appointment of engineering firm LYCOPODIUM MARINE & MODULAR PTY LTD as lead process engineering consultant, in support of a future Preliminary Economic Assessment (“PEA”) study for Valore’s 100% owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
Lycopodium will provide process engineering and study support services to advance Pedra Branca toward a PEA compliant with the Standards of Disclosure for Minerals Projects, according to National Instrument 43-101 (“NI 43-101”). Their work will focus on defining, evaluating and modeling process flowsheet options based on ValOre’s extensive historical and ongoing metallurgical test work programs.
The scope of this work includes:
- Input and advice on process route choice;
- Preparation of process technical input at PEA level, including:
- Development of process flow diagrams and mass, water and energy balances;
- Large selection and sizing of mechanical equipment;
- Estimates of capital and operating costs;
- Process description and control philosophy at a high level.
Nick Smart, CEO of ValOre, said: “The addition of Lycopodium’s highly competent team, their significant global experience and proven track record in the development and delivery of minerals projects, strengthens ValOre’s trajectory and gives us confidence for the successful development of the Pedra Branca PGE project. We are very excited about the final delivery of the Pedra Branca PEA at a time of continued strong demand for new sources of Platinum Group Element supply globally.”
The work for ValOre will be led and delivered by Lycopodium’s Cape Town office, located near the University of Cape Town, where concurrent metallurgical testing work is being carried out on the Pedra Branca ore.
About Lycopodium
Lycopodium has a proven track record in developing and delivering value-optimized, fit-for-purpose process installations, delivered within budget and schedule. Taking this into account, Lycopodium is uniquely able to provide confidence in the outcome for the successful development of this project.
Lycopodium has been active internationally in the resources industry for over 30 years and has designed and/or built numerous mineral processing plants with production capacities ranging from pilot scale to over 85 Mtpa.
Lycopodium has successfully completed an extensive portfolio of research and projects for diamond, gold, iron ore, nickel, copper and PGE producers worldwide:
CLICK HERE FOR CASE STUDIES FOR LYCOPODIUM SELECT PROJECT
This leadership position was achieved through consistent attention to detail and customer service, with long-standing relationships and repeat projects awarded by many clients.
Qualified Person (“QP”)
The technical information contained in this press release has been prepared in accordance with Canadian regulatory requirements set forth in NI 43-101 and reviewed and approved by Thiago Diniz, P.Geo., ValOre’s Qualified Person and Vice President of Exploration.
About Valore Metals Corp.
Valore Metals Corp. (TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0) is a Canadian company with a team that seeks to deploy capital and knowledge to projects that benefit from substantial upfront investments by previous owners, the existence of high-quality mineralization on a large scale and the opportunity to add tangible value through exploration and innovation.
ValOre’s Pedra Branca Platinum Group Elements Project includes 45 exploration permits covering a total area of 51,096 hectares (126,260 acres) in northeastern Brazil. At Pedra Branca, seven distinct PGE+Au deposit areas host a total 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au, contained in 63.6 Mt, grading 1.08 g/t 2PGE+Au. The ValOre team believes that the Pedra Branca project has significant potential for exploration exploration and resource expansion. (CLICK HERE to download the 2022* technical report and CLICK HERE for press release of March 24, 2022).
*The 2022 technical report entitled “Independent Technical Report–Mineral Resource Update on the Pedra Branca PGE Project, Ceará State, Brazil” was prepared on behalf of Valore Metals Corp. prepared as a National Instrument 43-101 Technical Report with an effective date of March 8, 2022. The 2022 Technical Report by independent qualified persons, Fábio Valério (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21, was commissioned to complete the mineral resource estimate, while Chris Kaye of Mine and Quarry Engineering Services Inc. (MQes) was commissioned to assess the metallurgical information. The mineral resource estimates have been prepared in accordance with CIM Standards and CIM Guidelines, using geostatistical, plus economic and mining parameters appropriate to the deposit. Mineral resources, other than mineral reserves, have no demonstrated economic viability and may be materially affected by environmental, permitting, legal, marketing and other relevant issues. Mineral resources are based on a cut-off grade of 0.4 g/t PGE+Au, correlated with a Pd_eq grade of 0.35 g/t, and were constrained by an economic well constructed in Geovia Whittle 4.3 software and according to the geometric and economic parameters described in the 2022 NI 43-101 Technical Report,
For more information about Valore Metals Corp. or this press release, please visit our website at www.valoremetals.com or contact Investor Relations at 778-819-4484, or by email at contact@valoremetals.com.
Valore Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements are based on factors and assumptions regarding future events that may prove inaccurate. These factors and assumptions are based on currently available information for ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that may affect actual results or events and cause actual results or events to differ materially from those expressed, anticipated or implied by the forward-looking statements. A number of important factors, including those set forth in other public filings, could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include ValOre’s future operations and economic factors. Readers are cautioned not to place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this press release and, except as required by applicable law, ValOre undertakes no obligation to publicly update or revise the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties regarding ValOre, or its financial or operating results or (if applicable) their securities.
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