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Valor Resources Limited (Valor) or (the Company) (ASX:VAL) is pleased to advise that it has completed the interpretation of airborne gravity gradiometry survey data at the Hook Lake Uranium Project situated on the eastern flank of the Athabasca Basin (see Figure 2).
HIGHLIGHTS
- Eleven new targets identified from the recently completed airborne gravity gradiometry (AGG) survey:
- On-ground field checking of gravity targets completed in August.
- Follow up field program proposed including radon and geochemical surveys over new gravity targets.
- Final assay results received for Hook Lake diamond drilling from earlier in the year.
- Anomalous results in three of the six holes drilled at the S-Zone prospect.
- Cluff Lake drilling permits have been received
- Surprise Creek ground-based program to recommence this month, with assays pending from previous work this quarter. Significant uranium occurrences were identified and follow up work is about to commence.
Figure 1: Hook Lake Gravity Targets identified through airborne gravity survey
The Company completed an airborne gravity gradiometry survey in May-June this year and following an interpretation of the data, eleven new targets have been defined (see Figure 1). The airborne gravity survey was designed to identify gravity lows. The hydrothermally clay altered host rocks associated with unconformity uranium deposits will have a lower density than the surrounding rocks and will present as gravity lows.
A site visit has also been completed to review the airborne gravity survey targets and assess the local geology. Follow-up work in the form of radon surveys and lake sediment sampling are currently being planned over the highest-priority targets.
Final assay results have now been received from the diamond drilling program completed earlier this year, details of which were released in the ASX announcement dated 11 April 2022 and titled “Initial Drill program hits elevated radioactivity and associated alteration at Hook Lake Uranium Project”. The assay results are within expectations based on the handheld scintillometer readings and downhole gamma survey results which were reported in the announcement dated 11 April 2022. The best result returned was in DDHL22-002 with 2.5m from 105.5m @ 160ppm U3O8.
Executive Chairman George Bauk commented “The assay results of the Hook Lake drilling program are within the boundaries expected and highlight uranium mineralisation at depth. These results coupled with the exciting new 11 targets developed using the recently flown airborne gravity survey provides the company with potential drill targets at the Hook Lake project. This area has had limited exploration with particular reference to modern exploration techniques and we will follow up with on ground exploration activities to assist with the ranking of these targets for drilling in the near future.”
“This part of the Athabasca Basin is the focus of a significant amount of uranium exploration activity at the moment. Most recently we have seen a new IPO with a project to the north of Hook Lake about to hit the ASX, and both 92 Energy and Baselode Energy completing significant drilling campaigns at their new Gemini/ACKIO discovery about 30km north of our S-Zone prospect.”
“We have an exciting portfolio of assets located around key existing and historical mining centres of the Basin. Hook Lake and Hidden Bay are close to the McArthur River, Cigar Lake and the Rabbit Lake mines, our Cluff Lake project is next to the historic Cluff Lake deposit and Surprise Creek is near the Beaverlodge uranium district. Our efforts in 2022 have been significant, comprising extensive data reviews of historical exploration, conducting a number of field programs, several large airborne surveys and a drill program at Hook Lake. What we have uncovered is a significant number of uranium targets on our properties that ultimately require drilling. With the abundance of new targets we have generated, we now need to prioritise them, which is difficult when they are of such high quality.”
Click here for the full ASX Release
This article includes content from Valor Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
VAL:AU
North Shore Uranium: Unlocking Value Across Two World-class Uranium Districts in North America
North Shore Uranium (TSXV:NSU) is a uranium exploration company focused on North America, advancing a dual-track strategy aimed at high-impact discoveries in two of the world’s most prolific uranium regions: the eastern Athabasca Basin in Saskatchewan, Canada, and the Grants Uranium District in New Mexico, USA. With a lean capital structure, fully permitted drill targets in Saskatchewan, and strong insider ownership, the company is well-positioned to create value through cost-effective exploration and resource definition in a rising uranium price environment.
The Rio Puerco project, located in New Mexico’s Grants District—a historically productive uranium belt responsible for over 340 million pounds of past U₃O₈ production—offers strong potential. Drawing on data from approximately 800 historical drill holes, a JORC-compliant inferred resource estimate of 11.4 million pounds U₃O₈ was completed in 2009. Early assessments suggest potential for in-situ recovery (ISR) mining, one of the lowest-cost extraction methods in the industry.
North-Shore-Uranium-Athabasca-Basin-ProjectsAt the Falcon project in the Athabasca Basin, North Shore’s maiden 2024 drill program confirmed near-surface uranium mineralization in previously untested zones, underscoring the project’s discovery potential. The company has outlined a 7-kilometre conductive corridor with high-priority drill targets in the South Priority Area and is planning prospecting and follow-up drill programs.
Company Highlights
- Dual Jurisdiction Exposure: Active exploration in Athabasca Basin and the Grants Uranium District, two of the most historically significant uranium-producing regions in North America.
- Rio Puerco Option: Binding term sheet signed for a transaction that would see North Shore Uranium acquire up to an 87.5 percent of the Rio Puerco uranium project in New Mexico, where there is a historical resource estimate of 6 million tonnes grading 0.09 percent eU₃O₈ for 11.4 million lbs of U₃O₈.1
- Falcon Discovery in 2024: Maiden drill program confirmed near-surface uranium mineralization at two targets on the Falcon property in the Athabasca Basin in a previously undrilled area within 30 km of the active Key Lake uranium mill.
- Path to Resource Definition: Upon completion of the transaction, North Shore plans to validate historical data, attempt to expand the resource and evaluate the ISR potential at Rio Puerco and concurrently work to expand the discovery footprint at Falcon.
- Lean Structure, Strong Insider Support: $2.2 million market cap (as of July 2025), 40.3 million shares outstanding, with 43.3 percent held by insiders and founding investors.
- High-caliber Team: Led by award-winning geologist Brooke Clements and supported by proven uranium dealmakers and technical experts.
This North Shore Uranium profile is part of a paid investor education campaign.*
Click here to connect with North Shore Uranium (TSXV:NSU) to receive an Investor Presentation