Not this hidden bay, though. Picture: Getty Images
Valor outlines uranium targets at Hidden Bay
Mining
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Valor has marked out six priority targets at its Hidden Bay uranium project in Canada’s Athabasca Basin after completing a review of historical data.
The review covered geological mapping, surface sampling, diamond drilling and reprocessed geophysical data from the project, which is just 20km south of the Rabbit Lake uranium deposit on the eastern Athabasca Basin.
Adding to their potential, an airborne gravity survey carried out by Valor Resources (ASX:VAL) to identify gravity lows, which can be caused by clay alteration of the host rock, has confirmed six high order anomalies that are coincident with these targets.
The company has also completed an initial site visit to establish logistical requirements and an on-ground review of recently collated historical data.
Executive chairman George Bauk said the project is one of the company’s best opportunities in the Athabasca uranium province with the untested structural targets now confirmed by the gravity survey.
“These targets will be prioritised for first pass drilling following the completion of radon surveys,” he added.
“The Rabbit Lake deposit represents our primary exploration target type given our similar geological and geophysical setting, with an opportunity to discover both basement and unconformity style uranium deposits.
“There has been one hole drilled in 35 years, highlighting the lack of exploration at this project and the broader region and the advancement of modern exploration techniques that provide significant data that simply was not available in previous exploration programs.”
Uranium potential
Hidden Bay Project covers an area of 31.9km2 and is prospective for basement-hosted uranium mineralisation.
Its proximity to Rabbit Lake is also encouraging given that it was the longest running uranium mine that produced over 203 million pounds of uranium concentrate over 41 years.
However, only sporadic exploration has been carried out with just one hole drilled in 35 years.
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.
