Valor Resources

September 2022 Quarterly Activities Report

Outstanding exploration results confirm the world-class pedigree of Valor’s uranium assets in Canada and copper-silver assets in Peru

Valor Resources Limited (Valor) or (the Company) (ASX:VAL) is an exploration company dedicated to creating shareholder value through acquisitions and exploration activities. The Company is focused on two key commodities, copper and uranium, as outlined below, in Peru and Canada.

HIGHLIGHTS

CANADIAN URANIUM – ATHABASCA BASIN:

  • Significant uranium results with associated copper from surface rock chip samples at Surprise Creek, including grades of up to 6.13% U3O8 and 1.03% Cu and 3.96% U3O8 and 1.31% Cu:
    • Six of the >1% U3O8 samples were taken from areas adjacent to the Surprise Creek Fault.
    • 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.
  • Highly prospective uranium targets identified at Hook Lake Project
    • Airborne gravity surveys completed at Hook Lake with a total of 2,080 line kilometres at 150m line spacing
    • Eleven new targets identified from the recently completed airborne gravity gradiometry (AGG) survey:
    • On-ground field checking of gravity targets completed in August
    • Follow-up field program proposed including radon and geochemical surveys over new gravity targets
  • Hidden Bay Airborne survey identifies new drill targets
    • Six prospective unconformity uranium targets identified based on new airborne gravity survey data
    • Airborne gravity survey completed at Hidden Bay with 416 line kms at 150m line spacing
  • Cluff Lake drilling permits have been received

PERUVIAN COPPER-SILVER:

  • Substantial new IP anomalies confirm additional large-scale porphyry copper potential at Picha Project:
  • Large IP chargeability anomalies identified at both the Ichucollo Target and Huancune Target, adding further to the cluster of coincident geophysical/geochemical targets already delineated.
  • Combined strike length of the Ichucollo and Huancune IP anomalies and the existing IP anomaly identified in the 2021 IP survey, is over 6km in strike length.
  • The IP anomalies at both Ichucollo and Huancune are coincident with significant surface copper mineralisation:
  • Ichucollo Target – semi-continuous 2.5km long IP anomaly, coincident with channel samples:
    • 24m @ 1.08% Cu 12m @ 1.10% Cu
    • 30m @ 0.79% Cu 16m @ 0.60% Cu
    • 18m long zone of “manto-type” mineralisation averaging 1.45% Cu
    • Shallow targets (<250m deep) easily tested with drilling
  • Huancune Target – 1.5km long IP anomaly, coincident with surface rock chip and channel samples:
    • >0.5% Cu and up to 3.95% Cu

CORPORATE:

  • Robin Wilson appointed as Technical Director and Joe Graziano as Company Secretary.

SURPRISE CREEK PROJECT

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

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.


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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