11:07 AM EDT, 05/16/2024 (MT Newswires) -- ValOre Metals ( KVLQF ) said Thursday it continues to advance exploration of the Pedra Branca platinum group elements (PGE) project in Brazil.

The company said the deposits exhibit the potential for the shortest development timeline with the highest operating margin.

ValOre's plans for 2024/2025 include the completion of a preliminary economic assessment, commencing permitting processes and environmental impact assessment, and defining a timeline to production.

As part of its strategy, ValOre appointed Thiago Diniz as vice president for exploration.

"He has been successfully managing ValOre's Pedra Branca PGE project in Brazil for 4 years, excelling in the planning, budgeting, and program execution, which resulted in several discoveries, including Salvador, and a doubling of the inferred resource at Pedra Branca," chief executive Jim Paterson said. "Importantly, Thiago has gained the respect of ValOre's in-country team and our board of directors and has built an exceptional level of trust with the local community of Capitao Mor and the Pedra Branca region."

ValOre's shares were last seen up $0.005 to $0.07 on the TSX Venture Exchange.

Price: 0.07, Change: +0.01, Percent Change: +7.69