New energy exploration company Valor Resources (ASX:VAL) reports it has defined a ‘significant’ uranium target following a follow-up field work program at its 100% owned Surprise Creek Uranium Project in Canada’s Saskatchewan region.
The field program, comprising geological mapping and geochemical sampling within the Surprise Creek Fault, has extended the project by nearly 400m strike length and has uncovered 5 showings, displaying maximum scintillometer readings of 10,000-65,535 cps.
It is also reported that 50 rock chip samples were collected from across the project, including 31 from the Surprise Creek Fault area, with assay results expected later in the December quarter.
All of the results gathered are noted to have further enhanced the potential of the project.
The recently completed field program was conducted to follow-up on reconnaissance work undertaken in July, which returned several rock chip assay results of 1% U3O8 and up to 1.03% copper (Cu).
Commenting on the discovery of the uranium target, Valor Resources’ Executive Chairman, George Bauk said: “The follow-up program targeting the Surprise Creek Fault prospect has successfully extended the area of uranium mineralisation and given us strong impetus to drill test this target in 2023.
The known deposits in this part of the Beaverlodge district produced about 57 million pounds of uranium historically, highlighting the potential of this area to yield very ‘significant’ uranium deposits.
“The known deposits in this part of the Beaverlodge district produced about 57 million pounds of uranium historically, highlighting the potential of this area to yield very ‘significant’ uranium deposits”
Prior to drilling, we plan to complete detailed airborne radiometrics and magnetics across the entire Surprise Creek project area to identify other potential uranium targets as well as enhance our structural understanding to assist with drill planning.
We also plan to follow-up known copper occurrences in an area where we have very limited geological data.”
Valor Resources also notes that geological mapping of the areas surrounding the north-south trending Surprise Creek Fault has highlighted strong geological similarities with uranium deposits in the Beaverlodge Uranium District, such as Fay-Ace and Gunnar.
In addition, additional Cu occurrences have been located close to the unconformity between the Thluico Lake Group sediments, as well as the older Tazin Group mylonites, suggesting a potential genetic link.
Valor Resources is an ASX-listed energy new energy exploration company exploring for ‘high-grade’ unconformity-related uranium in Canada’s Athabasca Basin, along with large-scale Cu/silver (Ag) deposits in Peru. The company’s Surprise Creek project is located about 25km northwest of Uranium City in Canada’s Saskatchewan region and covers a total land area of 34.7km-square over 4 contiguous claims.
With results from the recently completed follow-up field program now received, Valor Resources announces it will move forward with plans with additional follow-up on known Cu occurrences in the southern and western portions of the project.
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