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Valor unveil Suprise Creek copper

13 February 2023 13:08
ASX:THB

Valor Resources have highlighted three significant copper targets from historical review over the trio of recently staked claims next to its Surprise Creek Uranium Project near Canada’s Beaverlodge uranium district in Saskatchewan.

It adds new copper targets immediately adjacent to Surprise Creek, where exploration has already revealed outstanding uranium and copper grades as high as 7.98 per cent uranium trioxide and 61.7 per cent copper.

The fresh targets come from within 44 square kilometres of the new Valor mineral claims and include three significant historical copper showings at Ellis Bay, Bob Lake and Waterloo, suggested to be unconformity-related and/or sediment-hosted stratiform copper, the important but oft-overlooked source of copper which accounts for around a fifth of global production.

The company said its recently staked claims covered an area with no significant exploration for more than 40 years and represented an overlooked and high-quality regional opportunity.

“The copper results generated in the 1950s-1970s have never been followed-up using modern exploration techniques, providing an exceptional opportunity for new discoveries,” executive chairman George Bauk said.

“Limited historical drilling from the Bob Lake and Ellis Bay prospects returned significant copper results. These results, together with the copper mineralisation that we have previously reported from the Surprise Creek Project during the 2022 field program and other regional copper occurrences, suggests potential for a significant mineralising system over a widespread area.”

Valor now moves to validate the historical occurrences and improve its geological understanding, with field work to begin mid-way through the year.

Historical results:

  • Bob Lake – results reported of up to 9m @ 2.07% Cu and 27.3g/t Ag from surface and 2.5m @ 5.58% Cu and 17.43g/t Ag from 6.1m
  • Ellis Bay (Zone 25) results reported of up to 6.6m @ 1.31% Cu from 11m and 4m @ 0.60% Cu from 8m.
  • Waterloo – results reported up to 1.39% Cu over 4.5m and 2.41% Cu over 3m.

VAL’s Australian Stock Exchange-listed share price was trading at 0.5c today (1.03 pm UTC+ 8 hours).

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