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Valor show an Athabasca surprise

11 August 2022 13:16
ASX:THB
Uranium and copper at Surprise Creek

Valor Resources Surprise Creek project has lived up to its name, with a field program confirming several historic targets while revealing unrecorded uranium and copper resting close to the surface of Canada’s yellowcake-famed Athabasca basin.

Uranium uncovered by the program had six maximum scintillometer readings of 65,535 counts per second — indicating a strong presence of radioactive materials.

Surface copper was likewise noted in several locations, with semi-massive chalcocite mineralisation showing up across a quartz vein extending 350 metres.

The program’s objective was to review the project’s already promising prospects, drill locations, and surface showings, with historical data showing high-grade uranium drill results up to 7.5 per cent triuranium octoxide.

The company said that based on success of the field program, it had increased its position in the region and pegged another seven square kilometres.

“Historical results, and the fact there has been no modern exploration in this area for uranium for over 40 years and for copper over 20 years, suggests there is significant potential in this area, and our first field program has already turned up some exciting new occurrences,” executive chairman George Bauk said.

The company will follow up on this field program in September before the area freezes over while moving on exploration over its numerous Athabasca prospects.

VAL’s Australian Stock Exchange-listed share price has risen 12.50 per cent today, selling at 0.9c (1.00 pm UTC+ 8 hours).

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