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- Valor Resources (VAL) shares plummet as much as 27.3 per cent on the back of preliminary interpretations from an airborne survey completed at the company’s Hook Lake Uranium Project
- The company says it has identified a cluster of anomalies in the northwest of the project area
- The findings have been subject to further on ground works and are hoped to provide further understanding of the occurrences
- A point sample taken from the project is awaiting assay results, however Valor says the sample should not be considered representative of the area’s mineralised structure or rock type
- Valor Resources shares are down 18.2 per cent to trade at 0.9 cents
Valor Resources (VAL) shares plummeted as much as 27.3 per cent on the back of preliminary interpretations from an airborne survey completed at the company’s Hook Lake Uranium Project.
Accompanied by unusually high trading activity, Valor updated the market on a radiometric survey completed in July and the start of on-ground work at the Canadian project.
Noteworthy findings included a cluster of anomalies identified in the northwest of the project area where Valor said no uranium occurrences have previously been identified.
The findings have been deemed a priority and are currently subject to follow up on groundwork, which is hoped to validate and develop the company’s geological understanding of the occurrences.
A point sample taken from the project is awaiting assay results, however Valor said the sample has a high potential of bias and should not be considered a representation of the area’s mineralised structure or rock type.
According to Valor, a field crew supported by a helicopter is carrying out the field programme over a two- to three-week period.
Valor Resources shares were down 18.2 per cent at 1:31 pm AEST to trade at 0.9 cents.
