Valhalla Metals reports 21 metres of 6.84% CuEq at Sun Project, Alaska

Valhalla Metals Inc. [TSXV-VMXX; OTCQB-VMXXF] reported assay results from four diamond drill holes totaling 1,104 metres completed during the 2023 exploration program at its flagship Sun project located in the World Class Ambler Mining District, northwest Alaska. All four drill holes intersected multiple significant mineralized intervals and are summarized below.

Highlights include drill hole Sun23-01 that intersected 13.7 metres of 3.07% CuEq (1.24% Cu, 0.92% Pb, 3.45% Zn, 0.16 g/t Au, and 55.79 g/t Ag).

Sun 23-02 intersected 14.6 metres of 1.91% CuEq, including 10.8 metres of 2.2% CuEq (0.69% Cu, 0.73% Pb, 2.88% Zn, 0.12 g/t Au, and 53.77 g/t Ag).

Sun23-03 intersected 13.8 metres of 3.44% CuEq, including 8.7 metres of 4% CuEq (1.89% Cu, 1.23% Pb, 3.35% Zn, 0.29 g/t Au, and 94.36 g.t Ag).

Sun 23-04 intersected 21.4 metres of 6.84% CuEq (1.31% Cu, 3.23% Pb, 11.03% Zn, 0.24 g/t Au, and 108.31 g/t Ag) within a larger interval of 52.4 metres of 3.3% CuEq.

The 2023 drilling campaign was designed to test mineralization down-dip and along strike to known mineral resources and represented significant step-outs from known mineralization.

Rick Van Nieuwenhuyse, Chairman, said, “These are four great step-out holes demonstrating that the VMS system continues to depth with mineable grades and thicknesses of copper, zinc and precious metals. All we need to do is keep drilling to expand the known resources.”

The 2023 program included the construction of a new 24-man camp, a LiDAR and orthophotography survey over the Sun and Smucker properties, and a ground gravity survey at Sun. The company also completed four drill holes for a total of 1,104 metres in addition to relogging six historic drill holes totalling 1,416 metres core.

The drilling was designed to fill in gaps within inferred areas of the resource model in addition to testing the continuation of mineralization downdip and along strike. Mineralized intervals represent large step outs from known resources and range between 50m and 150m step-outs. All holes confirm that mineralization does continue down-dip and along strike. Sun23-002 intersected a new thick interval of mineralization not previously identified and intersected 14.6 metres of 1.91% CuEq including a 10.8-metre zone of 2.2% CuEq. Sun23-003 and Sun23-004 intersected thick zones of mineralization not previously identified in nearby holes and warrant excellent opportunity for further investigation.

The United States Bureau of Land Management (BLM) has filed the draft Supplemental Environmental Impact Statement (SEIS) for the AAP and was recorded on the federal register on October 20, 2023. The draft SEIS is open for a 60-day public comment period, until December 19, 2023. The BLM reconfirmed they anticipate a final SEIS is expected in the first quarter of 2024, and a Record of Decision within the second quarter of 2024.

Valhalla’s flagship project is the Sun copper-zinc-lead-gold-silver VMS projects located in Ambler Mining District, Northwest Alaska. The company also owns the Smucker project, a high-quality copper-zinc-lead-gold-silver VMS project located in the Ambler Mining District, Northwest Alaska.

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