Valor Resources halted ahead of assays from uranium exploration program

Valor Resources Ltd (ASX:VAL) has been granted a trading halt pending the announcement of exploration results from the company’s Hook Lake Uranium Project in Athabasca Basin, Canada.

The company’s securities will remain in a trading halt until the beginning of regular ASX trade on Tuesday, August 31 or when an announcement is made to market – whichever occurs first.

Priority uranium targets

The company has this week identified multiple priority uranium targets at the Cluff Lake Uranium Project, also within the Athabasca Basin in Canada.

During an exploration targeting program that incorporated modelling and geophysics, the explorer uncovered targets that coincide with uranium radiometric, electromagnetic and radioactive boulder anomalies.

Anomalies at Hook Lake

The radiometric survey also revealed new anomalies at the Hook Lake Project with the highest priority anomalies being strongly correlated with the uranium channel count.

The survey, which was completed in late July by Calgary-based Special Projects Inc, covered the north-eastern third of the Hook Lake Project including the Hook Lake/Zone S historical high-grade uranium occurrence.