Valor Resources (ASX:VAL) is gearing up for a detailed mobile magneto telluric (MT) airborne electromagnetic (EM) survey over the Cluff Lake Uranium Project in the prolific Athabasca Basin in Canada.
The $13.76 million market capitalisation company says results from the MobileMT survey will help further refine the current drilling targets at Cluff Lake.
Expert Geophysics has been enlisted to undertake the airborne EM survey.
MobileMT has been proven to detect deep conductive horizons, as well as resistivity variations within the sandstone cover that potentially reflect alteration associated with unconformity-related uranium deposits.
This has been demonstrated at the Shea Creek uranium deposits, sitting 5km southwest of Cluff Lake.
The company also announces approvals have been received from the Saskatchewan Ministry of Environment to extend the Cluff Lake drilling permits to August 2025.
Executive Chairman George Bauk says: “Given the proven success of MobileMT surveys in identifying uranium deposits in this part of the Athabasca Basin, we are very excited to soon have a major survey underway across our tenements.
Valor has already identified a number of high-quality exploration targets within our tenement holding at Cluff Lake, with this new survey data to help rank and prioritise prospects for near-term drilling.”
Valor Resources is an explorer focused on acquisitions and exploration activities to hunt for uranium, lithium, and copper in Canada.
The company’s Canadian portfolio includes the wholly owned Hidden Bay, Cluff Lake, Surprise Creek Fault, and Beatty River projects, as well as its majority 80% owned Hook Lake project.
Valor also holds ‘significant’ leverage in Peru through its 20.58% shareholding in Firetail Resources (ASX:FTL) plus a retained 20% project interest in the Picha Project.
Write to Adam Drought at Mining.com.au
Images: Valor Resources
