Valor Resources Limited (ASX:VAL) has announced results from a recent field program at its Hook Lake Project in Saskatchewan Canada, with ‘high-grade’ uranium mineralisation confirmed at the Zone S prospect.
The program saw a series of 57 samples taken from across the project, with four from the historical Zone S trench displaying evidence of ‘high-grade’ uranium (>6% U3O8), ‘highly elevated’ rare earths (>0.5% TREO*), silver (>50ppm) and lead (> 1.8%).
Uraninite float sample found to the east of the Zone S prospectThe company notes that the samples are selective, and should not be interpreted as representing an overall mineralised zone.
Field program delivers the goods
The field program was carried out by independent contractor Dahrouge Geological Consulting, with a focus on understanding more about historical reports of uranium at the Zone S and West Way prospects, along with following up targets generated from a magnetic/VLF-EM survey in April, and an airborne radiometric survey in July.
Further assay results from Zone S samples include:
- 59.2% U3O8, 499g/t Ag, 5.05% TREO, 14.4% Pb (Float)
- TREO includes 11,797ppm Nd2O3 + Pr6O11 and 1,825ppm Dy2O3
- 57.4% U308, 507g/t Ag, 3.68% TREO, 14.5% Pb (Rock Chip)
- TREO includes 8,562ppm Nd2O3 + Pr6O11and 1,676ppm Dy2O3
- 46.1% U3O8, 435g/t Ag, 2.88% TREO, 8.8% Pb (Rock Chip)
- TREO includes 7,054ppm Nd2O3 + Pr6O11 and 1,139ppm Dy2O3
- 6.92% U3O8, 0.81% TREO, 2% Pb (Rock Chip)
- 6.42% U3O8, 1.17% TREO, 1.8% Pb (Rock Chip)
The West Way prospect also returned results from rock chip samples, with up to 0.64% U3O8 and Molybdenum of 3.4% and 1.9%
“This is one hell of an exciting project, right commodity, right location and right time”
Up next
Valor reports that it is currently undertaking a review of rare earths and molybdenum potential at the project, with a follow-up field program planned to prepare targets for drill testing.
Management comments
Valor Resources Executive Chairman George Bauk said: “The results announced today highlights the enormous potential at the Hook Lake Project. Not only have we confirmed the significant outcrop of uranium mineralisation grading up to 59% U3O8, but we have also seen outstanding results in other commodities such as Rare Earths with grades more than 5% TREO.
The occurrence of rare earths is not unexpected in the Athabascan Basin, we just were not expecting grades this high and with the distribution of key rare earth elements such as neodymium, praseodymium and dysprosium. We have seen results of over 1% TREO at both the Hook Lake prospect and the Nob Hill prospect which are over 10km apart on the property.
The task at this project is to review all the current and historical data and put together a drill program to follow up these exciting results. This is one hell of an exciting project, right commodity, right location and right time.”
Images: Valor Resources Limited
