Valor Resources Ltd is encouraged by historical data showing high-grade uranium up to 4.37% at Surprise Creek in Canada

Valor Resources Ltd (ASX:VAL) has completed an in-depth review of data from the Surprise Creek project in the northwest of the Athabasca Basin in Canada, which returned high-grade uranium drill results of 2.1 meters at 4.37%.

A significant number of very promising targets have also been discovered, which will be followed by field reconnaissance work in the coming weeks to validate and improve the geological understanding of the exploration model.

Other significant historical drill results at the Surprise Creek Fault target include 1.5 meters at 0.1% U3O8, 0.43 meters at 0.49% and 0.15 meters at 0.83%.

The Surprise Creek Fault target comprises a geochemical uranium anomaly of greater than 25 ppm uranium in soils greater than 500 meters in strike length and including rock chips up to 6.37% U3O8, associated with a north-northwest faults. The soil geochemical anomaly has been partially tested by drilling and remains open in several directions.

“Great potential”

“Review of historical data has highlighted some interesting uranium and copper targets, with the high-grade uranium drill results of 2.1 meters at 4.37% U3O8 at Surprise Creek Fault being the most notable. “said Valor Executive Chairman George Bauk.

“The historical results and the lack of modern exploration for over 20 years suggest that there is great potential in this area.

“Based on the review of historical data, the company has increased its land position on the project to the southwest by anchoring an additional 11 square kilometers. Given the trend of copper mineralization in the southwest part of the property, we thought it made sense to poke the open ground.

“We continue to work on historical exploration data from our eight projects in the Athabasca Basin and will release further results from these reviews in the coming months.

“The exploration team will begin field work at the Cluff Lake and Surprise Creek projects in July and results from recently completed airborne gravity surveys at the Cluff Lake, Hook Lake and Hidden Bay projects will be finalized in the current quarter.” , did he declare. added.

Surprise Creek Project – target areas.

Historical targets

Data from the 1950s through the late 1970s was used in the review as little exploration for uranium or copper has been carried out in the area since then.

All diamond drill holes have been reported and surface samples reported have been filtered based on soil samples containing more than 2 ppm uranium, rock chips/boulders and sample types unknowns containing more than 5 ppm uranium.

The company plans to carry out field work to verify certain aspects of the historical sampling before taking the targets to the next stage.

History class

The most significant exploration at the Surprise Creek Fault target was conducted by Van-Tor Resources, which completed 27 diamond holes in 1968 to test a zone of uranium mineralization at surface.

Drilling by Van-Tor Resources returned several important intersections, including:

  • 2.1 meters at 4.37% U3O8 from 57 meters including 0.9 meters at 7.5% and 0.61 meters at 0.37% from 52.4 meters;
  • 1.5 meters at 0.1% from 57.6 meters;
  • 0.15 meters at 0.1% from 4.8 meters;
  • 0.43 meters at 0.49% from 41.7 meters; and
  • 0.15 meters at 0.83% from 29.6 meters

lake targets

The Plug Lake target contains multiple occurrences of subsurface hosted uranium mineralization hosted in W-NW trending veins or structures. Mineralization is known to be spatially associated with amphibolite lenses. Grab samples of rock containing up to 5004 ppm uranium have been reported from this area.

The Lake Mylonite target consists of a subsurface hosted occurrence of uranium mineralization in a structurally complex zone interpreted from geophysics and aerial photography. The interpreted intersection of E and NE trending faults in the area is a structural setting considered favorable for uranium mineralization.

Copper targets

Extensive soil and rock chip geochemical sampling programs conducted in the 1970s to the west and southwest of the project area revealed consistent and significant copper mineralization in two different areas.

The southern copper anomaly is the largest with rock chips up to 5.9% copper and soil samples grading up to 3300 ppm copper. The +150 ppm copper anomaly to the south can be traced for 1.5 kilometers and remains open beyond the survey limits.

The North Copper Anomaly contains rock chips up to 0.7% copper and soil samples up to 340 ppm copper. Follow-up drilling was recommended but never carried out.

The Surprise Creek project is located within the Archean Zemlak Domain in Rae Province, northwest of the Athabasca Basin, and directly adjoins the Beaverlodge Domain, which hosts many of the district’s uranium deposits.

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