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Valor Resources Ltd.
Summary
| Project: | Berenguela | |
|---|---|---|
| Deposit: | Berenguela | |
| Location: | Peru | |
| Commodities: | Silver-Copper-Manganese-Zinc | |
| Date: | 10/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2017: Valor Resources Ltd. announces a Resource Estimation report for its Berenguela deposit at the Berenguela project. Resource estimate update increases total indicated resources by 44%. Valor Resources Limited (“VAL” or the “Company”, ASX: VAL) i | |
| Resources: | (Resource, I+I): 25.53Mt @ 112.97g/t Ag, 1.003% Cu, 9.56% Mn, 0.35% Zn at project | |
| CP/QP: | [Resources]: Marcelo Batelochi (MB Soluções em Geologia e Mineração Ltda) | |
| ABSTRACT: | Valor Resources Limited (“VAL” or the “Company”, ASX: VAL) is pleased to report a substantial increase in the JORC Mineral Resource Estimate for the flagship Berenguela Copper-Silver Project in Southern Peru. Commenting on the updated JORC Resource for Berenguela, Valor Chairman, Mark Sumner stated: “The value added to the Berenguela project after a modest ~$2.3 million spend is indeed significant for Valor and our shareholders. We have added over 7 million tonnes to the Indicated Resources, while increasing copper grades to an average of over 1% Cu and copper equivalent grades in excess of 1.7% CuEq. Along with the increases in the Inferred category, we have added over 149 million pounds of contained copper to the project’s total Resources. Berenguela’s silver resources are also approaching 100 million ounces, making Berenguela a very significant and exceptionally high grade silver project in its own right. The addition of over 197 million pounds in the maiden zinc resource, also lends a significant value to the deposit. Collectively, each of the upgrades in tonnage, as well as grades, represents a substantial increase in the project’s value.” “We are now working from a much larger Resource base and have numerous high-value drill targets in our sites which will undoubtedly enhance the value of Berenguela even further. We are only just starting to realise the project’s value which will become evident as we release a steady flow of updates on exploration and project development initiatives that are ongoing.” | |
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