Valor glowing as data review unveils Surprise uranium, copper targets
A target-generating review of historical data at Valor Resources’ Surprise Creek project in Canada has revealed the presence of high-grade uranium and copper.
Valor (ASX:VAL) unveiled a series of highly prospective targets to be followed up during the review, which was carried out to better understand the project’s multi-commodity potential.
Of particular note was drilling carried out on the Surprise Creek Fault uranium target, which was highlighted by an intercept of 2.1m at 4.37% uranium oxide from 57m, including 0.9m at 7.5% uranium oxide.
Other significant historical uranium drill results included 1.5m at 0.1% uranium oxide, 0.43m at 0.49% and 0.15m at 0.83%.
The company said drilling at Surprise Creek Fault – a target comprising a uranium geochemical anomaly in soils over 500m in strike length – only ever partially tested the area and remained open in several directions.
Rock chip samples from the area tested as high as 6.37% uranium oxide, associated with a north-northwest striking fault system.
Uranium reconnaissance field work will begin in mid-July, with geological mapping and rock chip sampling on the agenda to validate current targets and improve geological understanding of the company’s exploration model.
While uranium took the headlines, the review of data at Surprise Creek also highlighted several copper targets in the southwest of the project area, where soil and rock chip anomalies were reported over 1.5km strike length and open to the north and south.
Copper target areas featured several rock chip samples above 0.25% copper – including one as high as 5.9% copper – and soil samples recorded copper as high as 3300 parts per million.
The results of the review are particularly encouraging for Valor, which grew its landholding in the underexplored area by an additional 11km2 southwest of the copper anomalies after conducting its review.
Executive chairman George Bauk said the company was excited to get on the ground and carry out the planned reconnaissance work in the coming weeks.
“The historical data review has highlighted some exciting uranium and copper targets, with the high-grade uranium drill results of 2.1m at 4.37% U3O8 at Surprise Creek Fault being most noteworthy,” he said.
“The historical results and lack of modern exploration for over 20 years suggests there is great potential in this area.
“Based on the historical data review, the company increased its land position at the project to the southwest by pegging a further 11km2. Given the copper mineralisation trend at the southwest part of the property, we thought it was only logical to peg the open ground.”
“We are continuing to work through the historical exploration data from our eight projects in the Athabasca Basin and will release further results of these reviews in the coming months.
“The exploration team will commence on-ground work at the Cluff Lake and Surprise Creek Projects in July and results of the recently completed airborne gravity surveys at the Cluff Lake, Hook Lake and Hidden Bay Projects will be finalised during the current quarter.”
Cluff Lake, Surprise Creek, Hook Lake and Hidden Bay are all located in Canada’s Athabasca Basin, where Valor has taken a particular interest in uranium prospectivity.
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.