ValOre Provides Update on 2023 Core Drilling Program at Pedra Branca PGE Project, Brazil - Seite 2

Ipueiras, Tróia and Nambi also represent drill-ready “pipeline” targets developed in 2022 to be tested this year (Figure 1). CLICK HERE for a video summary of the exploration and discovery pipeline targets at Pedra Branca. CLICK HERE for a table which summarizes 2022 exploration results for Galante, Tróia, Nambi and Ipueiras.

Figure 1: Pedra Branca project property map, highlighting location of the 2023 drill targets and current resource zones.

Quality Assurance/Quality Control (“QA/QC”)

As part of ValOre’s QA/QC protocol, a total of eight quality control samples are inserted in each batch of 72 samples. These include the insertion of blanks, standards, and duplicates according to a logical sequence that follows strict industry standards. The eight quality control samples comprise: (i) two coarse blanks sampled from barren quartz vein outcrops in the area (3% of the batch); (ii) three certified reference materials (“CRMs”, 4% of the batch) with pre-determined PGE and Au grades produced by CDN Resource Laboratories; and (iii) four duplicate samples (6% of the batch), including one coarse reject duplicate and one pulp duplicate (both prepared at SGS laboratory following ValOre’s instructions) and one ¼ core duplicate, prepared at ValOre’s core logging facility in Capitão Mor. Assay results are systematically checked upon receipt and a specific batch is accepted if results are in accordance with a QA/QC failure chart. All samples are sent with an ensured chain of custody to SGS Geosol Laboratórios Ltda., an accredited mineral analysis laboratory) in Vespasiano, Minas Gerais, Brazil for analysis.

Grading intervals are reported from continuous drill intersections of favorable ultramafic intrusion that return anomalous 2PGE+Au values throughout, with sample widths averaging 1.0 metres in length throughout the mineralized zone.

Analytical Procedures, SGS Geosol

Once a core sample consignment is received and verified by SGS Geosol, all core samples undergo density calculation by water immersion method on the raw samples wrapped in PVC film. The samples are subsequently prepared for analyses by means of drying, crushing (with 75% passing 3 mm), homogenization, quartering and pulverizing 250 – 300 g of sample in a 95% steel mill at 150 mesh. Multielement analyses is then performed by Sodium Peroxide Fusion followed by a multielement combined ICP-OES and ICP-MS scan for base metals, trace, and lithological elements. Chromium values that exceeded 5% are redirected to ore-grade pyrosulfate fusion and XRF techniques to determine %Cr₂O₃. Samples are then analyzed for 2PGE+Gold (Pd, Pt, Au) content using standard Fire Assay techniques.