What started off as wondering what Valor could do with the $1.9M in the kitty at the end of 2018 became a wander down the rabbit hole of the regional aspects around and at Picha.
Usual rambling multi faceted draft of data for weekend consumption.
Most of this Q1 19 expenditure is probably earmarked for the studies which leaves some $1.4M.
Picha or a new project?
A new good new project is going to be difficult to find when there is competition from the likes of Rio, Fresnillo, Hudbay, Buenaventura, BHP etc who are active in the area. Not impossible but the funds would run out pretty quickly to "purchase" and then explore.
So IMO Picha may be it for the near future.
Fresnillo appear to have pegged ground adjacent to Picha (east) in August 2018. Not a large block but I wonder why and hope it augurs well for Valor in some way. Just one page of data that is available on the land package. [The tenement map show an unpegged strip of ground between Picha and Fresnillo - bit odd.
Existing work at Picha does not appear to have involved any drilling but there has been some active prospecting including shafts and adits.
Work reported by Kiwanda Copper (Mark Sumner).
Geochemistry:
On Google earth to show possible outcrop and alteration zones.
Resistivity - geophysics -
- low resistivity red/magenta refers to more conductivity and sulphides are a possible reason
- High resistivity is sometimes associated with strong silica or other alteration and low sulphidation epithermals?
The main problem with this map is the only reference points are to tenement boundaries but which ones?. Steep topography could make surveys very tricky locally.
- The northern half is pretty blah for high resistivity- perhaps.
- The Reds and magentas in the south and SE suggest low resistivity. Shapes of these may be of some use but leave it at that.
Enough data to plan a drill program?
Depends on how the resistivity corresponds to geochem and mapping to a certain extent.
Probably not but they can't afford to much geophysics as it won't leave funds for a significant drill campaign.
As always it will be interesting to see what they can pull out of the hat.
GLTAH
