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Valor extend Surprise Creek uranium

9 November 2022 10:29
ASX: VAL
Surprise Creek uranium

Valor Resources continue to uncover Suprise Creek’s uranium potential, with results of follow-up field testing extending its near-surface uranium to nearly 400 metres of Canadian strike length.

The geological mapping and geochemical sampling come after rock chips returned grades as high as 6.13 per cent uranium oxide and 61.7 per cent copper.

Fieldwork uncovered several areas across the project with a scintillometer reading over 10,000 cps — with five showing the maximum reading of 65,535 cps.

The site has demonstrated geological similarities to significant uranium deposits within the Beaverlodge uranium district, including the Fay-Ace and Gunnar mines.

The company said results provided strong impetus to hit the target with an extensive drill campaign next year.

“Prior to drilling, we plan to complete detailed airborne radiometric and magnetics across the entire Surprise Creek project area to identify other potential uranium targets as well as enhance our structural understanding to assist with drill planning,” executive chairman George Bauk said.

“The known deposits in this part of the Beaverlodge district produced about 57 million pounds of uranium historically, highlighting the potential of this area to yield very significant uranium deposits.”

Collected from the Suprise Creek fault, 50 new rock chip samples have been sent for analysis, with their return anticipated their return over the coming weeks.

VAL’s Australian Stock Exchange-listed share price has risen 16.67 per cent today, currently selling at 0.7c (10.12 am UTC+ 8 hours).

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