Valor gathers momentum with uranium target at Surprise Creek
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Valor Resources has defined a ‘significant’ uranium target at its Surprise Creek project near the Beaverlodge Uranium District in northern Saskatchewan, Canada.
The company recently reported rock chip assay results of >1% U3O8 and up to 6.13% U3O8 and 1.03% Cu and a follow up field program has successfully extended the area of surface uranium mineralisation at the Surprise Creek Fault to nearly 400m strike length.
It also uncovered five showings with maximum scintillometer readings of 65,535 cps and several more with over 10,000 cps.
A total of 50 rock chip samples were collected from across the project, including 31 samples from the Surprise Creek Fault area, with assay results expected later in the December Quarter.
Detailed geological mapping also undertaken over the area around the Fault and Valor Resources (ASX:VAL) shows compelling geological similarities to uranium deposits within the Beaverlodge district such as Fay-Ace and Gunnar – which are located around 25km southeast and 30km south of Surprise Creek respectively.
“The follow-up program targeting the Surprise Creek Fault prospect has successfully extended the area of uranium mineralisation and given us strong impetus to drill test this target in 2023,” executive chairman George Baulk said.
“The known deposits in this part of the Beaverlodge district produced about 57 million pounds of uranium historically, highlighting the potential of this area to yield very significant uranium deposits.
“Prior to drilling, we plan to complete detailed airborne radiometrics and magnetics across the entire Surprise Creek project area to identify other potential uranium targets as well as enhance our structural understanding to assist with drill planning.
“We also plan to follow-up known copper occurrences in the southern and western portions of the Project, which appear to represent widespread mineralisation in an area where we have very limited geological data.”
Follow-up of the copper occurrences identified in the July field program was also carried out as part of the October field program.
And high-grade copper samples were returned at a whopping 61.7% copper 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.
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.
This article was developed in collaboration with Valor Resources Limited, 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.