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Valor prioritise a swag of uranium targets

8 February 2023 12:44
ASX:THB

Valor Resources have identified four new high priority targets after a comprehensive review of all available data at the Cluff Lake Uranium Project, one of several Valor projects in and around Canada’s yellowcake-renowned Athabasca basin.

It adds to the high-grade uranium targets spotted in June last year, with historical drilling highlighted by 2.1 metres of 4.3 per cent triuranium octoxide.

The final priority targets are now established for the upcoming field season after structural interpretation, geological inversion models, all available surface geochemistry and drill-hole information was collated to rank a bevy of targets for basement-hosted and unconformity type uranium deposits.

Two targets are notably located at the Moose Lake prospect, where exceptionally high-grade rare earth assays up to 9.15 per cent total rare earth oxide were returned from field checking and surface sampling.

The company said a recent site visit had highlighted at least two as very exciting, walk-up drill targets.

“The Cluff Lake Uranium Project is located just 7km east of the historical Cluff Lake Mine, which produced 62.5Mlbs @ 0.92% U3O8. Interpretation of the AGG data has highlighted four priority targets and several lower-order targets,” executive chairman George Bauk said.

“The Cluff Lake uranium deposits are basement-hosted deposits with a similar geological and geophysical setting, and the project has the potential for both basement and unconformity-style uranium deposits. The Cluff Lake deposits are small in physical size – for example, the D-Zone deposit was only 140m long by 25m wide – but economically significant due to their high-grade. Our exploration programs are being designed and executed with this in mind.”

Next in the pipeline for Valor in the Great White North is review of historical data at Pendleton and MacPhersons Lake projects in March, with on ground field work to begin at Hidden Bay, Hook Lake and Cluff Lake shortly after.

VAL’s Australian Stock Exchange-listed share price is currently trading at 0.5c (12.40 pm UTC+ 8 hours).

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