Mining Maven21 Nov 2019 15:44
ValOre stepping up the media engagement and I would anticipate a lore more to follow from Monday onwards,....GL S
“ValOre has lots of ground to search, with more than 45 km of prospective geology on the property. But Anglo’s data has allowed ValOre to refine that swath of geology into 14 undrilled targets and 7 drilled targets that deserve more attention, in addition to the 5 deposit areas.”
“I say the old data has allowed ValOre to outline this opportunity – and that deserves some emphasis. Pedra Branca didn’t come to ValOre with this work done. On the contrary: most of the $35 million worth of data that Anglo had collected had never really been analyzed. It had been years since a geologist had been to site. Pedra Branca was a treasure trove of PGM exploration opportunity that no one had opened in years.”
“Even Anglo had barely used its own data. The major’s crazy high bar of requirement led to rules like that a geophysical anomaly had to be at least 3 sq km in size or else it wasn’t worth testing. As a result the major left a lot on the table for a company like ValOre to work with.”
“ValOre has spent the last few months doing that work – understanding the data that Anglo left behind and adding to it where possible. One technique that’s been effective is spectral mineral mapping via some of the highest resolution commercial satellites in the world called WorldView.”
“The combination of huge amounts of historical data, a district with obvious mineral endowment, and innovative exploration approaches suggests to me that ValOre has very good odds of growing the PGM count at Pedra Branca, perhaps significantly.”
“The process from here: ValOre will start drilling, focused on resource expansion. Paterson will start telling the story. Depending on markets and results, ValOre will sooner or later raise more capital and then start attacking its long list of exploration targets, which is where things could get quite spalshy. Since the project has a defined resource ValOre also plans to complete a PEA later in 2020, which could bring about a stock rerating.”
“If all of that happens in a strong PGM market – palladium retaining its gains, platinum perhaps gaining, and a broad precious metals bull market adding attention – then the market will have good reason to get interested.”
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