Valor Resources has lifted the veil on a clutch of copper drill targets at its Picha copper and silver project in southern Peru courtesy of an ongoing ground geophysics program. According to the company, the geophysical anomalies correlate with surface mineralisation at the project and potentially point to mineralisation at depth. Valor is now planning a drilling campaign that will look to test its targets.
Valor’s two-piece geophysical assignment has wrapped up about 70 percent of a proposed 204 line kilometre ground magnetic survey and close to 40 per cent of a supplementary, 57 line kilometre induced polarisation or “IP” survey. According to the company, the suite of potential drill targets is supported by the first three lines of the IP survey.
Valor says the preliminary results from the trio of lines completed on its Picha ground reveal chargeability anomalies at depth that correlate with surface mineralisation at its Cumbre Coya, Maricate and Cobremani target zones.
The surface mineralisation at the company’s targets is thought to be credited with chalcedony-opaline silica and quartz veins and Valor believes this is supported by its latest round of geophysical work at the project, with the IP survey unveiling a suite of resistivity anomalies at surface that appear to be coincident with the previously discovered surface mineralisation.
Valor Resources Executive Chairman, George Bauk said:“These preliminary results are significant as it indicates the potential at depth. The results that have been reported over the past 5 months have shown widespread copper-silver mineralisation over the 20km2 Picha project. The new geophysical survey data presented in this announcement shows geophysical anomalies at depth that correlate to surface mineralisation and geology”.
“The ground-based IP survey is only 18% complete and is expected to be completed by January 2022. The team will continue to undertake ground-based work to firm up drill targets for the project. Results to date are outstanding and we will continue to advance the project in 2022.”
Valor’s latest piece of work at its Picha copper and silver project in southern Peru follows a recent channel sampling program that uncovered an over 40 metre long surface channel grading 0.49 per cent copper at its Cumbre Coya prospect and a 17.6m channel at 1.95 per cent copper at its Maricate prospect about half a kilometre away.
The company has been chipping away at its Picha landholdings and the results from channel sampling form part of a 137 piece rock chip sampling program at the two prospects.
The company is still awaiting the results from around 93 surface samples following the completion of its exploration campaign.
Peru ranks among the top copper producers in the world and boasts a suite of significant ore bodies that includes the Chucapaca copper, silver and gold deposit where close to eight million ounces of gold equivalent have been defined.
With copper trading at close to historical highs of about US$9,600 per tonne and the highly sort after mineral forming an increasingly important part of industry’s push towards a zero-carbon emissions society, Valor’s Peruvian foray could turn out to be well timed.
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By Matt Birney
