Valor Resources has extended the surface uranium mineralisation of its Surprise Creek project in Canada to a strike length of almost 400m after receiving results from field work conducted last month.
The program completed in October revealed five targets with a maximum scintillometer reading of 65,535 counts per second whilst a number of additional areas tested showed results of more than 10,000 cps.
A total of 50 rock chip samples were collected across the site, including 31 from the Surprise Creek Fault area with assay results expected before the end of the year.
Previous rock chip samples from a campaign conducted in July included assays of 6.13 per cent, 3.96 per cent and 1.83 per cent uranium oxide.
The explorer is aiming to complete detailed airborne radiometrics and magnetic surveys across the entire Surprise Creek project area to identify other potential uranium targets ahead of drilling early in 2023.
Valor says the geology of the prospect shares many similarities with two of the most significant Beaverlodge Uranium District deposits in the Athabasca Basin, Fay-Ace and Gunnar, located around 25km south-east and 30km south of Surprise Creek respectively. Historical production for the Fay-Ace deposit was 42 million pounds of uranium oxide whilst the Gunnar site delivered 15 million pounds.
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.”
Historical drilling at Surprise Creek delivered a raft of solid strikes, including 0.9m at 7.5 per cent uranium oxide, inside a larger 2.1m intercept going 4.37 per cent from 57m. Notably, the results were recorded in the late 1960s with limited modern uranium exploration in the area since.
Canada’s Athabasca Basin has historically been responsible for about 20 per cent of the world’s uranium supply and boasts some of the planet’s most productive energy assets.
Since the late 1960s 18 major uranium deposits have been found in the region and about half of them rank amongst the globe’s best in terms of grade.
Valor also plans to follow up on copper anomalies in the southern and western portions of Surprise Creek that the company says represents widespread mineralisation in an area with limited geological data.
The explorer holds a strong portfolio of assets located around key existing and historical mining centres of the Athabasca Basin. Hook Lake and Hidden Bay are close to the McArthur River, Cigar Lake and the Rabbit Lake mines, whilst the Cluff Lake project is next to the historic Cluff Lake deposit.
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By Matt Birney
