Results from the systematic geochemical and geophysical work undertaken at the Picha Copper Project in Peru, as well as surface mapping and sampling, demonstrates an outstanding opportunity for the discovery of a large-scale porphyry copper/epithermal mineral system.
According to Valor’s (ASX:VAL) executive chairman George Bauk, this now means the company has an “incredible” new pipeline of targets to test with the drill rig.
What’s more, the two anomalies are coincident with extensive surface copper mineralisation in channel samples, which previously returned up to 24m at 1.08% copper, 12m at 1.1% copper, and 30m at 0.79% copper.
Data from these new surveys are currently being integrated with geological mapping to develop a 3D geological model which, along with the surface geochemical sampling, is being used to determine targets and drill-hole locations.
“The work completed over a period of 18 months at Picha has now identified an extensive potential porphyry copper and epithermal mineralised system,” Bauk says.
“Picha is a standout exploration opportunity in one of the world’s premier exploration jurisdictions for this style of deposit and it is now in the drill-ready status.
“The results of the September IP survey represent the cherry on the top of what is potentially a fantastic large-scale system.”
These new drill targets will be added to the existing proposed drill program, which is currently awaiting approval from the government authorities, providing a pipeline of drill targets for testing in 2023.
Approvals for the company’s maiden drilling program at the Picha Project are progressing with the Peruvian Government.
The maiden drilling program will target the Cobremani, Maricate, Combre Coya targets and the Fundicion IP chargeability anomaly identified in the 2021 IP survey.
