Valor Resources has explored in-demand uranium deposits, eyeing multiple prospective targets, including priority zones at the highly prospective Hook Lake project in Canada’s prolific Athabasca Basin.
Boasting rock chips of 60 per cent Tri uranium octoxide, the 2500 metre program will surmise how far precisely the highly valued yellowcake spreads at the project’s S-zone.
The world’s major powers continue to look nuclear to solve emissions woes. China recently announced a US$440 billion program for 150 new reactors while Japan reopens its program and significant European nations plot construction of new reactors.
The Perth-based company said it is undoubtedly an exciting time to be drilling for uranium.
“Major economies are looking to nuclear energy as a low carbon solution as part of the overall global target to reduce global emissions,” executive chairman George Bauk said.
“These activities will drive demand up and will have a positive impact on the future price of uranium.”
The program also includes testing the V-grid geochemical and structural target, while an airborne gravity survey is set to take off in April.
VAL’s Australian Stock Exchange-listed price has risen over 7 per cent, currently trading at 1.4c (1:21 pm UTC+8 hours)