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Valor Resources LimitedValor Resources Limited (Valor) or (the Company) (ASX: VAL) is pleased to provide its activities report for the quarter ended 31 March 2022.
HIGHLIGHTS CANADIAN URANIUM – ATHABASCA BASIN:
- Initial drill program hits elevated radioactivity and associated alteration at Hook Lake Uranium project
- Eight hole, 1,757m diamond drilling program completed at Hook Lake Project at the S-Zone and V-Grid targets
- Elevated radioactivity1 and alteration zones encountered in several holes at S-Zone target, assays pending
- Uraninite mineralisation recorded in drill hole DDHL22-002 at S-Zone within a 3.5m 2 sub-vertical zone of elevated radioactivity and alteration
- Airborne gravity survey to commence at Cluff Lake and Hook Lake in May to identify new drill targets
- Follow-up on-ground exploration program for Hook Lake currently being planned
- To include on-ground follow up of targets such as West Way where surface sampling in 2021 returned assays up to 0.64% U3O8 and Nob Hill with assays up to 1.01% TREO
- Valor meets commitments under farm in agreement with Skyharbour on Hook Lake
PERUVIAN COPPER SILVER:
- Valor identifies large porphyry copper target
- Large IP anomaly identified based on Valor’s 2021 Induced Polarisation (IP)/Resistivity survey
- The IP anomaly is approximately 2km long in a north-south direction and 2km across at its widest point (NE-SW orientation)
- Target supported by surface mineralisation identified in 2021 field program comprising over 400 samples including channel samples of:
- 41.6m @ 1.12% Cu and 22.8g/t Ag (Cobremani),
- 17.6m @ 1.95% Cu and 29.5g/t Ag (Maricate) and
- 32.85m @ 0.61% Cu and 209.76g/t Ag (Cumbre Coya)
- Spectral study supports the porphyry potential at the Picha Project
- Spectral study of 74 rock samples from the Picha Project indicates alteration zones proximal to porphyrytype deposits – five spectral anomalies identified
- Study also identified alteration minerals related to low sulfidation epithermal environments
- Additional copper targets confirmed with assays up to 3.95% Cu and 229 g/t Ag at Picha project
- Multiple new targets confirmed with rock chip assay results:
- 3.95% Cu, 229g/t Ag and 3.06% Pb in channel sample at Huancune target
- Three of four channel samples at Huancune return >1% Cu
- 0.82% Cu, 47.7 Ag g/t in channel sample at new target (Pacojahua) 2km southwest of Huancune
- Multiple new targets confirmed with rock chip assay results:
CORPORATE:
- $3.4m raised through a heavily oversubscribed placement
The March Quarter saw the completion of the maiden drilling program at the Hook Lake Uranium Project in Canada along with the identification of a large porphyry target at the Picha Project in Peru. The Company is continuing to successfully manage this dual focus by having experienced locally-based geological consultants/employees in Canada and Peru. Their local knowledge means exploration activities are progressing efficiently and effectively on both fronts.
In Canada, the Company has completed its maiden diamond drilling program at the Hook Lake Uranium Project with the drilling hitting elevated radioactivity. Three of the drillholes at S-Zone encountered elevated radioactivity and associated alteration of varying widths. DDHL22-002 intersected a zone from 104.3m to 108m downhole depth of elevated radioactivity (up to 900 cps measured with a handheld RS-125 scintillometer and a peak of 1,131 cps in the downhole gamma survey) and alteration, with traces of uraninite mineralisation noted in some of the fractures.
The Company continues to work on reviewing historical data from all seven of the uranium projects in Canada and aims to have these reported to the market in the coming 3 to 4 months.
In Peru, outstanding results have been released to the market, including the identification of a large porphyry target. Work is now focused on finalising the drilling program and completing the permitting process in order to commence drilling. The team has commenced work on the expanded Picha Project with some initial rock chip results of up to 3% Cu and multiple new targets identified.
The Company is cognisant of operating a dual focus strategy between our Athabasca Uranium and Peruvian Copper Portfolios and continues to evaluate the best structure in which to maximise shareholder value.
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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