Valor Resources

Surprise Creek Project Historical Data Review Highlights High-Grade Uranium and Copper Targets Including Drilling Results ​of 2.1m @ 4.37% U3o8

Valor Resources Limited (Valor) or (the Company) (ASX:VAL) is pleased to announce the completion of an extensive data review and targeting process on the Surprise Creek Project (the Project) to the northwest of the Athabasca Basin. This work has highlighted a significant number of very prospective targets, which will be followed up on-ground in the coming few weeks.


URANIUM HIGHLIGHTS

  • Historical drilling on the Surprise Creek Fault target highlighted by 2.1m @ 4.37% U3O8 from 57m (VT20) including 0.9m @ 7.5% U3O8
  • Other significant historical drilling results at Surprise Creek Fault target include 1.5m @ 0.1% U3O8 (VT13), 0.43m @ 0.49% U3O8 (VT05) and 0.15m @ 0.83% U3O8 (VT02)
  • Surprise Creek Fault target comprises a uranium geochemical anomaly (>25ppm U) in soils over 500m in strike length and including rock chips up to 6.37% U3O8, associated with a north-northwest striking fault system
  • Uranium soil geochemical anomaly was partially drill tested and remains open in several directions
  • The Exploration Model is a structurally controlled vein type uranium deposit, a sub-type of the basement- hosted unconformity-related uranium deposits
  • Reconnaissance field work to commence in mid-July with geological mapping and rock chip sampling to validate the current targets and improve geological understanding of the exploration model.

Figure 1: Surprise Creek – Project location

COPPER HIGHLIGHTS

  • Data review also highlights several copper targets in the southwest of the project area with soil and rock chip anomalies (>150ppm Cu) over a strike length of 1.5km and open to the north and south.
  • Copper target areas include several rock chip samples >0.25% Cu, up to 5.9% Cu and soil samples up to 3,300ppm Cu.
  • Valor’s landholding increased in the area following historical data review, with an additional 11 km2 pegged to the southwest of the copper anomalies.
  • No modern exploration for uranium or copper in the project area for over 20 years.

Figure 2- Surprise Creek Project - Target areas

Executive Chairman George Bauk commented “The historical data review has highlighted some exciting uranium and copper targets with the high-grade uranium drill results of 2.1m @ 4.37% U3O8 at Surprise Creek Fault being most noteworthy. The historical results and lack of modern exploration for over 20 years suggests there is great potential in this area.”

“Based on the historical data review, the Company increased its land position at the Project to the southwest by pegging a further 11km2. Given the copper mineralisation trend at the southwest part of the property, we thought it was only logical to peg the open ground.”

“We are continuing to work through the historical exploration data from our eight projects in the Athabasca Basin and will release further results of these reviews in the coming months. The exploration team will commence on-ground work at the Cluff Lake and Surprise Creek Projects in July and results of the recently completed airborne gravity surveys at the Cluff Lake, Hook Lake and Hidden Bay Projects will be finalised during the current quarter."

Historical data review targets

The following targets are based on a thorough review of historical exploration data which has been integrated with a detailed geological interpretation of all publicly available geophysical data completed by Valor’s consultant geophysics team, Terra Resources. The historical exploration data is from the 1950s through to the late 1970s. Between the 1980s and the present day, little uranium or copper exploration has been carried out in this area. Details of relevant drill holes and surface sampling information that have been used in determining some of these targets, have been included in Appendices 1, 2 and 3. All diamond drill holes have been reported and surface samples reported have been filtered based on: Soil samples > 2ppm U, rock chip(boulder) and unknown sample types > 5ppm U. Due to the historical nature of some of this data, some aspects of the sampling and drilling cannot be verified and therefore some caution must be applied. The Company intends to carry out on-ground work to verify aspects of the historical data before advancing targets to the next stage.

Surprise Creek Fault

The Surprise Creek Fault target is an area where uranium exploration occurred in the late 1960s. The most significant exploration was conducted by Van-Tor Resources who completed 27 diamond holes in 1968 to test an area of uranium mineralisation at surface. Prior to that, in 1955, Independence Mining drilled 14 shallow (mostly 25-50m and up to 85m deep) diamond drillholes in the area following prospecting and trenching, which located uranium mineralisation at surface.


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
The Conversation (0)
Firetail Resources Limited

Shareholders Approve Firetail Resources’ Acquisition of Peruvian Assets

Firetail received strong shareholder approval with 88 percent of votes in favor of the transaction

Firetail Resources (ASX:FTL) shareholders have approved the acquisition of up to 80 percent interest in Valor Resources’ (ASX:VAL) Picha and Charaque projects in Peru, according to an article published by The West Australian.

Keep reading...Show less
Power lines, stock chart and money symbolizing energy market growth.

Uranium Price Update: Q1 2025 in Review

Impacted by broad uncertainty, geopolitical risks and trade tensions, the spot U3O8 price fell 13.26 percent during Q1, starting the session at US$74.74 per pound and contracting to US$64.83 by March 31.

As factors outside the uranium sector forced spot price consolidation, long-term uranium prices remained steady, holding at the US$80 level, a possible indicator of the market’s long-term potential.

Although the U3O8 spot price hit nearly two decade highs in 2024, the sector has been unable to find continued support in 2025. Much uncertainty has been introduced this year by the Trump administration's on-again, off-again tariffs, which have infused the already opaque uranium market with even more ambiguity.

As volatility rattles investors, US utility companies have also been impacted by the threat of tariffs.

“There's a lot of speculation,” Per Jander, director of nuclear fuel at WMC, told the Investing News Network (INN) in a March interview. “I think the new administration is unpredictable, and I think that is by design, and (they are) obviously doing a very good job at that. But again, it has ripple effects for players in the market.”

Keep reading...Show less
Mineralisation structures Identified at North Sweden project

Mineralisation structures Identified at North Sweden project

Basin Energy (BSN:AU) has announced Mineralisation structures Identified at North Sweden project

Download the PDF here.

Canadian flag next to uranium ore.

5 Best-performing Canadian Uranium Stocks of 2025

Q1 2025 has been a turbulent time for the uranium market as long term demand fundamentals proved insufficient at combatting global economic uncertainty.

Following 2024’s impressive performance that saw U308 spot prices break through the US$100 per pound threshold, reaching a 17 year high, the first three months of 2025 have been punctuated with volatility.

Concern about the impact of potential US energy tariffs on significant uranium producer Canada added headwinds to uranium’s sails early on. As tensions between the US and its neighboring ally ratcheted up, U3O8 spot prices slipped lower, falling to US$63.44 in mid-March, a low last seen in September 2023.

Keep reading...Show less
Toro Energy (ASX:TOE)

Toro Energy


Keep reading...Show less
Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).

Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company's flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
AuKing Mining (ASX:AKN)

AuKing Mining


Keep reading...Show less

Latest Press Releases

Related News

×