Valor has used historical data and geophysical interpretation to define seven high-priority targets at its Cluff Lake project just 7km east of the historical Cluff Lake mine.

The new targets were highlighted by surface geochemical anomalies of up to 0.15% U3O8 and will be followed up on-ground by the company in the coming few weeks.

The Cluff Lake project has the potential for both Athabasca basement-hosted and unconformity-style uranium deposits.

Valor Resources (ASX:VAL) has also completed an airborne gravity gradiometry (AGG) survey to identify further targets.

“The data review has highlighted excellent targets including several key structures, and this combined with outputs from the recently completed AGG survey will provide us with the priority targets that require on-ground follow-up leading to drilling,” executive chairman George Bauk said.

“The gravity survey provides the third dimension (depth) to the other geological data sets to assist with identifying and prioritising drill targets.”

He added that the company is targeting its exploration to account for the small, but high-grade nature of known resources in the area.

“We are also working through compiling all the historical exploration data from our eight projects in the Athabasca Basin, and we plan to release the reviews of all projects in the next three months,” Bauk noted.

“During this time, the exploration team will continue on-ground exploration and interpretation of the new airborne survey data from Cluff Lake, Hook Lake and Hidden Bay.”

Airborne Survey

As part of its search for uranium targets, Valor has completed the AGG survey across about 80% of the Cluff Lake project area, the first modern survey of its type to be completed over the area.

This will help delineate geology and structure that are potentially important in the formation of a uranium deposit.

Gravity anomalies can also provide direct detection of the hydrothermal alteration associated with a uranium deposit.

Preliminary data is currently being compiled and reviewed, with the results expected later this month.




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.