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Valor Resources Limited (Valor) or (the Company) (ASX: VAL) is pleased to advise that it has confirmed several priority drill targets for the upcoming 2023 field season at the Cluff Lake Uranium Project, located 7km east of the Cluff Lake Uranium deposits on the western flank of Canada’s world-class Athabasca Basin (Figure 2).
HIGHLIGHTS
- Four priority targets identified at the Cluff Lake Uranium Project in Canada’s Athabasca Basin following a comprehensive review of all available exploration data, including data obtained from the extensive airborne gravity survey completed last year.
- Two of the targets located at the Moose Lake prospect are prioritised for drill testing.
- Structural interpretation combined with geophysical inversion models, all available surface geochemistry and drill-hole information have been used to rank and prioritise the targets for basement-hosted and unconformity-type uranium deposits.
- The depth to the top of the Athabasca Basin/basement unconformity has been derived from historical airborne EM (MEGATEM) magnetic and drilling data, as well as Valor’s 2022 airborne gravity gradiometry (AGG) survey data.
- Exceptionally high-grade rare earth element (REE) assays of up to 9.15% TREO1 returned from on- ground field checking of targets and surface sampling of historic trenches at the Moose Lake prospect.
- The Cluff Lake Project is located 7km east of Orano’s Cluff Lake Mine, which produced 62.5Mlbs @ 0.92% U3O8 and 5km from Orano’s/UEX’s Shea Creek deposits, which combine to form one of the largest undeveloped uranium resources in the Athabasca Basin.
- Follow-up field program proposed including radon surveys over targets before drilling later in 2023.
Surface sampling at Moose Lake Prospect (Sample# 212412 – 6.9% TREO).
Figure 1: Cluff Lake Project – Targets identified through historical data review and new geophysical interpretation.
The targets have been refined following the interpretation of new airborne gravity gradiometry (AGG) and magnetic data, re-processing of historical airborne EM data (MEGATEM) and initial fieldwork at the Cluff Lake Project.
An earlier review of historic exploration data from the Cluff Lake area identified seven prospective targets from geological mapping, surface sampling, diamond drilling and re-processed historical geophysical data. The results of this review were reported on 7th June 2022 in the ASX announcement titled “Highly prospective Uranium targets identified at Cluff Lake Project near historical uranium mine”.
Subsequent to that, the Company completed an airborne gravity gradiometry survey in June 2022 and, following an interpretation of these and other data, high-priority targets have been defined (Figure 1).
The airborne gravity survey was designed to identify gravity lows which can be caused by clay alteration of the host rock, potentially due to hydrothermal fluids associated with unconformity uranium deposits (see Figure 3).
Click here for the full ASX Release
This article includes content from Valor Resources, 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.*
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