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

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).

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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.

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.”

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