Valor Resources pinpoints multiple priority uranium targets at Cluff Lake in Canada

2021-08-26 11:13:00

“This project comes with so much data and prospectivity, it is hard to believe that no work has been undertaken for decades,” says MD.

Valor Resources Ltd(ASX:VAL) has identified multiple priority uranium targets at the Cluff Lake Uranium Project 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.

These occur in a geological setting analogous to that of the Cluff Lake Uranium Mine, which is 7 kilometres east of Valor’s project.

Field reconnaissance is set to kick off next month to provide further target validation, with ground surveys, mapping and sampling programs planned.

An underexplored asset

Speaking to the uranium asset’s value, Valor Resources executive chairman George Bauk said: “This project comes with so much data and prospectivity, it is hard to believe that no work has been undertaken for decades.

“It is within seven kilometres of the historical Cluff Lake mine that produced over 60 million pounds of uranium.

“We will be working with our geological consultants in Canada, Dahrouge Geological Consulting, which just recently completed the groundwork at our Hook Lake Project”.

Doubling down on uranium targets

Recently, Valor set out on an exploration campaign at the Cluff Lake Uranium Project to uncover targets for follow-up work.

In order to inform the work program, the ASX-lister collated all available geophysical and geological data across the project.

By modelling and processing geophysics, the nearby Cluff Lake Uranium Mine region was initially evaluated to provide a targeting signature, which was then used to compare and contrast with the geophysical responses across Valor’s Cluff Lake project.

The Cluff Lake Mine operated between 1980 and 2002, producing 62.5 million pounds of triuranium octoxide.

Numerous targets were identified within two discrete areas with geological settings analogous to that of the Cluff Lake Mine.

These targets were assessed and ranked in terms of their uranium channel radiometric response, the presence of radioactive boulders, electromagnetic anomalies and their proximity to northeast-trending structures.

Specifically, the uranium channel radiometric response over the highest priority target, a 1,400-metre by 700-metre region.

The uranium response has a coincident Megatem electromagnetic anomaly around 300 metres below the surface and is proximal to the contact between the Athabasca Basin sediments and the Archean gneissic basement.

Next on agenda

Moving ahead, a field-based exploration program has been devised to further assess these priority targets and will begin next month.

Valor wholly owns the Cluff Lake Uranium Project, which comprises 19 contiguous mineral claims covering g 62,233 hectares in northern Saskatchewan, Canada.

The explorer’s subsidiary also has the right to earn an 80% working interest in the Hook Lake Uranium Project, 60 kilometres east of the Key Lake Uranium Mine.

Valor is working across five additional projects within Canada’s Athabasca Basin, retaining a 100% equity interest in 12 mineral claims at the Surprise Creek Project, Pendleton Lake Project, Smitty Uranium Mine, Lorado Uranium Mine and the Hidden Bay Project.