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Valor get yellowcake Surprise

6 July 2022
ASX: VAL
Jack Baker

Valor Resources have uncovered several high-grade uranium and copper targets after reviewing historical drilling data over its Surprise Creek project to the northwest of Canada’s yellowcake-renowned Athabasca basin.

A headline hit showed 2.1 metres at 4.37 per cent triuranium octoxide among numerous significant results resting along the fault target, comprising an open uranium anomaly over half a kilometre of strike length.

The price of uranium has pounced back by 56 per cent over the last year as more nations push nuclear focus on energy diversity and emissions reduction.

The review also spotlighted several copper targets lying to the southwest, with high-grade samples showing up to 5.9 per cent copper.

Map of Surprise Creek and other Canadian assets

The company said a lack of modern exploration over the last two decades suggested an excellent potential for the area.

“Based on the historical data review, the Company increased its land position to the southwest by pegging a further 11 square kilometres,” executive chairman George Bauk said.

“Given the copper mineralisation trend at the southwest part of the property, we thought it was only logical to peg the open ground.”

Valor will continue to work over historical data on its Athabasca assets, commencing on-ground work at both Surprise Creek and Cluff Lake this month.

VAL’s Australian Stock Exchange-listed share price was trading at 0.7c today (1.42 am UTC+ 8 hours).

COMPANY OVERVIEW

Valor Resources Limited (ASX:VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities. The Company is focused on two key projects as outlined below in Peru and Canada. Valor’s 100% owned Peruvian subsidiary, Kiwanda SAC holds the rights to the Picha and Corona Projects located in the Moquegua Department of Peru, 17km ENE of the Chucapaca (San Gabriel – Buenaventura) gold deposit. They are two copper-silver exploration projects comprising ten granted mining concessions for a total of 6,031 hectares.

COMPANY INFORMATION

ASX: VAL

Website

https://www.valorresources.com.au/
https://www2.asx.com.au/markets/company/val

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