Valor Obtains Final Drilling Greenlight for Picha Project

Firetail Resources (ASX: FTL) has achieved a significant milestone as it secures the Autorización de Inicio (Permission to Begin Drilling) from the Peruvian Ministry of Energy and Mines for its Picha Copper Project in Peru. This permit allows for up to 120 drill holes across the approved Effective Area, comprising 40 drill platforms with three holes each. Community agreements cover the entire Effective Area for four years, enabling unhindered access.

The company recently entered an agreement to sell the Picha Project to Firetail Resources, focusing on its Canadian uranium assets. The maiden drilling program, set to begin in September 2023, will target key areas including Cobremani, Cumbre Coya, Maricate, and Fundicion, encompassing 5,000m of diamond drilling. The regulatory clearance comes subsequent to the prior endorsement of the Environmental Impact Statement earlier this year.

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