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Valor get yellowcake Surprise

6 July 2022 15:14
ASX: VAL

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.

VAL Surprise Creek Map

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).

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