Valor Resources

Exceptional Uranium And Copper Rock Chip Results Of Up To 6.13% U3o8 And 61.7% Cu At Surprise Creek

Multiple samples above 1% U3O8 plus numerous very high-grade copper samples confirm potential of under-explored project area as Valor’s exploration activity gathers momentum

Valor Resources Limited (Valor) or (the Company) (ASX:VAL) is pleased to report significant high-grade assay results from a reconnaissance surface sampling program undertaken in July at its 100%-owned Surprise Creek Uranium Project, located near the Beaverlodge uranium district to the north-west of the world-class Athabasca Basin (see Figure 2).

HIGHLIGHTS

  • Significant uranium results with associated copper returned from surface rock chip samples taken at the Surprise Creek Project, near the Athabasca Basin in Canada:
    • 6.13% U3O8 and 1.03% Cu
    • 3.96% U3O8 and 1.31% Cu
    • 1.83% U3O8 and 1.23% Cu
    • Four more samples of over 1% U3O8 and up to 2.57% Cu
  • Six of the >1% U3O8 samples were taken from areas adjacent to the Surprise Creek Fault and associated structures.
  • Historical drilling dating back to 1968 on the Surprise Creek Fault target returned significant intercepts including 2.1m @ 4.37% U3O8 from 57m (VT20) including 0.9m at 7.5% U3O8.
  • Several high-grade copper surface samples returned from an area to the south-west of the Surprise Creek/Plug Lake target, with grades of up to 61.7% Cu (no associated uranium).
  • Other rock chip results from this area include: 27.6% Cu, 9% Cu, 4.93% Cu and 3.94% Cu.
  • Field exploration underway including geological mapping and geochemical surface sampling.
  • Project area expanded in light of these results, with an additional claim pegged to the north.
  • Valor is targeting the discovery of structurally controlled vein-type uranium mineralisation, a potential sub-type of the basement-hosted unconformity-related uranium deposit.
This work has confirmed several historical uranium and copper targets and identified several new, previouslyunrecorded uranium and copper occurrences. A total of 30 samples were collected from uranium and copper occurrences across the Project which have returned significant high-grade copper and uranium assay results.

Valor Executive Chairman, George Bauk, said: “These exciting results further validate the huge opportunity at our Surprise Creek Project, demonstrating its potential to host significant uranium and copper mineralisation. We are seeing two potential target types emerge – one primarily for uranium with associated copper in the northern part of the project and another in the south and central part of the project comprising just copper.

“Historic drilling on the property returned significant intercepts including 2.1m @ 4.37% U3O8 from 57m at the Surprise Creek Fault, suggesting that these surface results could well be related to significant mineralisation at depth.

“Importantly, this historic drilling was from 1968 and this area has seen no modern exploration for uranium for over 40 years and for copper for over 20 years.

“Following these results, we have pegged additional ground immediately to the north of the project, and follow-up field work is currently underway with further geological mapping and sampling. We are also planning airborne geophysical surveys in 2023 to help define drilling targets, as we increase the pace of exploration activity ahead of what we believe could be a defining period for Valor next year at Surprise Creek.”


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.


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