Valor expand Surprise Creek

16 February 2023 09:18

Valor Resources have expanded its Canadian holdings and secured two new mineral claims covering around 20 square kilometres to the north of its Surprise Creek project in the Beaverlodge Uranium District of northern Saskatchewan.

The expanded territory builds on a host of Valor uranium and copper targets in the region, with new historical results up to 1.2 per cent copper and a significant uranium drill target adding to previous lofty returns of 6.13 per cent triuranium octoxide and 61.7 per cent copper from the project.

A detailed review of historical data from Valor’s new territory is already underway, prioritising areas for follow up in a region relighting on uranium exploration as yellowcake is increasingly viewed as a vital component of global energy production.

The company said its new claims, lying to the west of Uranium City, covered an area subject to no significant exploration over the past 40 years.

“The Beaverlodge area played a significant role in the commencement of uranium production in Canada, particularly the Athabasca Basin. With major discoveries having been made on the eastern side of the Basin in more recent times, this area has been left behind,” executive chairman George Bauk said.

“Our team is now working through the historical data, which includes significant copper results. This recent acquisition further expands our land-holding around the Surprise Creek Project area, which has had minimal exploration to date, especially over the past 40 years, despite the presence of widespread historical copper and uranium occurrences.”

Bauk added the company has already identified a significant uranium drill target at the Surprise Creek Fault and will move on spotting up more uranium and copper targets with geological surveys through the year.

VAL’s Australian Stock Exchange-listed share price is currently trading at 0.5c (9.13 am UTC+ 8 hours).

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