Valor excites with hot uranium, copper rock chips at Surprise Creek
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Surprise Creek is shaping up to be a real winner for Valor after reconnaissance rock chips returned strong uranium and copper results.
Multiple surface rock chip samples returned more than 1% U3O8 including top hits of 6.13% U3O8 and 1.03% copper as well as 3.96% U3O8 and 1.31% copper from the project near the Athabasca Basin.
Notably, six of these samples were taken from areas adjacent to the Surprise Creek Fault and associated structures, which could indicate possible controls on the mineralisation.
This is hugely significant given Valor Resources’ (ASX:VAL) aim of discovering structurally controlled vein-type uranium mineralisation, a potential sub-type of the basement-hosted unconformity-related uranium deposit.
Equally important are high-grade copper samples – topping up at a whopping 61.7% copper – which were returned from an area to the southwest of the Surprise Creek/Plug Lake target.
Other rock chip results from this area include 27.6% copper, 9% copper and 4.93% copper.
“These exciting results further validate the huge opportunity at our Surprise Creek Project, demonstrating its potential to host significant uranium and copper mineralisation,” executive chairman George Bauk said.
“We are seeing two potential target types emerge – one primarily for uranium with associated copper in the northern part of the project and another in the south and central part of the project comprising just copper.”
He added that historical drilling from 1968, which returned intercepts of up to 2.1m at 4.37% U3O8 from 57m at Surprise Creek, suggests that the surface results could be related to significant mineralisation at depth.
The project area has seen no modern exploration for uranium and copper for over 40 and 20 years respectively, and Valor believes that there is plenty more to find using more modern and accurate exploration techniques.
“Following these results, we have pegged additional ground immediately to the north of the project, and follow-up field work is currently underway with further geological mapping and sampling,” Bauk noted.
“We are also planning airborne geophysical surveys in 2023 to help define drilling targets, as we increase the pace of exploration activity ahead of what we believe could be a defining period for Valor next year at Surprise Creek.”
Uranium targets at the project are located mainly in the northern part of the project in the Surprise Creek Fault area and the Plug Lake area.
Mineralisation was predominantly found within east-west trending hematitic breccias and veins of the north-northwest trending Surprise Creek Fault with the highest grades occurring around its intersection with a north-northeast trending splay.
This is variably associated with copper (visible malachite) and/or lead mineralisation.
In the Plug Lake area about 1km to the east, five samples were collected from historical trenches with three returning assays greater than 0.1% U3O8.
Uranium mineralisation is found within small hematitic breccias/veins associated with lenses of amphibolite.
Copper targets are located in the southern and central parts of the project with seven samples collected from historical trenches and outcrop in the northern portion yielding semi-massive chalcocite mineralisation.
Six rock chip samples with disseminated sulphides and copper oxides were also taken from of Tazin Group mylonitised granites and/or metasediments to the south.
Valor noted that while it is still unclear what style of copper mineralisation these occurrences might represent, the southernmost area is located close to the regional unconformity between the overlying Thluico Lake Group sediments and the older Tazin Group mylonites, suggesting a possible genetic relationship.
This article was developed in collaboration with Valor Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.