Valor Resources begins fieldwork at Peruvian copper-silver project

Valor Resources Ltd (ASX:VAL) has started a desktop review on the Picha Copper-Silver Project in southern Peru that will incorporate fieldwork.

The company has engaged Solimana Gold SAC as geological consultants for the program at the project to the south of Valor’s Berenguela South Project.

Key aspects of the scope of the service include:

• Review of historical information from the previous exploration carried out on the Picha Project;
• Technical site visit to each exploration target (Cobremani, Cumbre Coya, Miracate, Fundición and Timillo) carrying out evaluation work on the potential for economic mineralisation;
• Geochemical sampling to confirm results of historical sampling carried out in previous exploration work; and
• Processing of historical geochemical information.

Has “significant potential”

Valor executive chairman George Bauk said: “These copper-silver projects in Peru have significant potential.

“With the challenges of COVID-19 restrictions within Peru, we have to work within these restrictions as best as possible.

“Copper, currently trading at record high prices, has very strong fundamentals, with supply expected to remain tight through 2021”.

Picha Project

The Picha Project, which comprises four granted mining concessions totalling 2,000 hectares, is around 17 kilometres from the Chucapaca gold deposit that hosts a resource of 7.5 million gold equivalent ounces.

Exploration work by the previous owner identified five high priority Induced Polarisation geophysical targets plus several areas with significant rock chip geochemistry.

Previous exploration reported encouraging rock chip results from surface sampling of exposed mineralisation at one of the targets.

Geochemical sampling of this area will be conducted by Solimana Gold to validate these results, which were not reported in accordance with JORC Code 2012.

Berenguela South

Picha is to the south of Valor’s Berenguela South Project that is in the Western Cordillera of the Andes within 5 kilometres of the Berenguela silver-copper deposit.

It comprises six granted mining concessions totalling 4,030.5 hectares and the western part of the property is within the northwest structural corridor hosting known copper-gold-silver-iron mineralisation.

Following the program at Picha, a scope of works for Berenguela South Project will also be developed.

Story by ProactiveInvestors