- Valor Resources (VAL) identifies “significant” uranium and copper mineralisation at the Surprise Creek project in northern Saskatchewan, Canada
- The company explored the Surprise Creek Fault and Plug Lake areas with surface copper mineralisation observed and semi-massive chalcocite mineralisation identified within a 350-metre long quartz vein
- Six showings recorded a maximum scintillometer reading of 65,545 counts per second (cps) while more than 10 recorded over 10,000 cps
- All up, 36 samples were collected from the uranium and copper occurrences with assays expected in four weeks
- Valor shares are up 12.5 per cent to trade at 0.9 cents at 11:52 am AEST
Valor Resources (VAL) has identified “significant” uranium and copper mineralisation at the Surprise Creek project in northern Saskatchewan, Canada.
Exploration was undertaken within the Surprise Creek Fault and Plug Lake areas with a focus on historical prospects, drill locations, surface showings and significant geological structures.
The company observed surface copper mineralisation in several locations with semi-massive chalcocite mineralisation identified within a 350-metre long quartz vein.
Six showings recorded a maximum scintillometer reading of 65,545 counts per second (cps) while more than 10 recorded over 10,000 cps.
As these reading locations are selective in nature, they have a high potential for bias and should not be considered as representing the overall mineralised structure or zone.
Historical drilling at the Surprise Creek Fault target returned 2.1 metres at 4.37 per cent triuranium octoxide from 57 metres including 0.9 metres at 7.5 per cent triuranium octoxide.
All up, 36 samples were collected from the uranium and copper occurrences with assays expected in four weeks.
“The historical data review highlighted some exciting uranium and copper targets with the high-grade uranium drill results of 2.1 metres at 4.37 per cent triuranium octoxide at Surprise Creek Fault being most noteworthy,” Executive Chairman George Bauk said.
“The historical results, and the fact there has been no modern exploration in this area for uranium for over 40 years and for copper over 20 years, suggests there is significant potential in this area, and our first field program has already turned up some exciting new occurrences.”
Valor shares were up 12.5 per cent to trade at 0.9 cents at 11:52 am AEST.