Valor looking to take a copper-uranium plunge at Surprise Creek

Valor’s field program has uncovered surface uranium and copper mineralisation at several locations at its Surprise Creek project in northern Saskatchewan, Canada.

The uranium mineralisation within the Surprise Creek Fault and Plug Lake areas include six showings with maximum scintillometer readings of 65,535 counts per second (CPS) and over 10 findings with over 10,000 CPS.

Meanwhile, surface copper was observed in several locations with semi-massive chalcocite mineralisation recorded within a 350m long quartz vein.

Valor Resources (ASX:VAL) noted that the field program is focused on visiting the historical prospects, drill locations, surface showings and significant geological structures.

The company is targeting a structurally controlled vein type uranium deposit at Surprise Creek, a sub-type of the basement-hosted unconformity-related uranium deposits.

Surprise Creek Fault comprises a uranium soil geochemical anomaly with a strike length of over 500m, rock chips of up to 6.37% U3O8 and historical drilling which returned a top result of 2.1m grading 4.37% U3O8 from 57m including 0.9m at 7.5% U3O8.

Time for a modern approach

“The historical results, and the fact there has been no modern exploration in this area for uranium for over 40 years and for copper over 20 years, suggests there is significant potential in this area, and our first field program has already turned up some exciting new occurrences,” executive chairman George Bauk said.

“Based on the recent field program, the company has further increased its land position at the Project by pegging another 7km². The copper mineralisation identified on the project has resulted in us extending our landholding to the north.”

Valor plans to follow-up the initial field program at Surprise Creek in September just before it becomes too cold.

Prior to this, its exploration team will start on-ground work at the Hook Lake and Hidden Bay Projects.

“We are also continuing to work through the historical exploration data from other projects in the Athabasca Basin and will release further results of these reviews in the coming months,” Bauk added.

Copper targets

Surface copper mineralisation was observed in several locations with the most significant being a previously unrecorded quartz vein with semi-massive chalcocite mineralisation, which has a current known strike length of 350m.

Covellite, native copper, malachite, azurite and copper-oxides were also observed, indicating the high-grade nature of the showings.

It is currently unclear what style of copper mineralisation these occurrences might represent, though the close spatial relationship with the unconformity between the Thluico Lake Group sediments and the older Tazin Group mylonites suggests a possible link.

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.