Valor Resources Ltd identifies high priority uranium targets at Cluff Lake near historic mine


Valor Resources Ltd (ASX:VAL) has identified seven high priority uranium targets based on historical data and geophysical interpretation following a data review and targeting exercise for the Cluff Lake uranium project in the western Athabasca basin in Canada.

An extensive Airborne Gravity Gradiometry (AGG) survey has recently been completed over the Project, and additional targets are expected to be identified as the final data is reviewed.

Going forward, Valor’s clearance is well advanced to begin ground exploration activities this month, including mapping and sampling to design a drill program.

“Excellent targets”

Valor Executive Chairman, George Bauk, said, “Data review has highlighted excellent targets, including several key structures, which, combined with the results of the recently completed airborne gravity gradiometry survey, will provide us with priority targets that require field monitoring leading up to drilling. .

“Gravity surveying provides the third dimension (depth) to other geological data sets to help identify and prioritize drill targets.

“We are less than 7 kilometers from a major historic uranium mine, which was operated by Areva (now Orano), France’s leading nuclear organization.

“This group of deposits has produced over 62 million pounds of U3O8 at 0.92% U3O8 (or 9,200 ppm U3O8).

“These deposits were small in terms of physical size, but due to their high-grade nature, they were economically significant.”

Airborne gravity survey

An airborne gravity gradiometry (AGG) survey was conducted over approximately 80% of the Cluff Lake project area, covering 622 square kilometres.

A total of 2,755 line kilometers were covered in the survey, at a spacing of 200 meters.

The first modern airborne gravity survey has been completed over the project area, with preliminary data being compiled and reviewed and results are expected later this month.

This AGG data will help delineate the geology and structure that are potentially important in the formation of a uranium deposit.

Cluff Lake Potential

The Cluff Lake uranium project, which covers 62,233 hectares, is just 7 kilometers east of the Cluff Lake uranium mine, which was operated by Orano (formerly Areva) between 1980 and 2002, producing 62.5 million pounds at an average grade of 0.92%. U3O8.

The southwest corner of the project is also just 2.5 kilometers northeast of Orano-UEX’s Shea Creek deposit, which has a total mineral resource of 95.85 million pounds at a grade of 1.34%. U3O8.

Provisional plan

Going forward, Valor will target the two main types of high-grade uranium deposits found in the Athabasca Basin – subsurface-hosted deposits and unconformity-type deposits.

Next steps at Cluff Lake.

Bauk adds, “We are targeting our exploration activity to take into account the physical size of the known resources in the area.

“We are also working on compiling all historical exploration data from our eight projects in the Athabasca Basin and expect to release reviews of all projects within the next three months.

“Meanwhile, the exploration team will continue ground exploration and interpretation of new airborne survey data from Cluff Lake, Hook Lake and Hidden Bay.”


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