Valor Resources Limited (ASX:VAL) has completed its initial field visit, airborne gravity survey and historical data review of the Hidden Bay Uranium Project situated 20km south of the Rabbit Lake Uranium deposit on the eastern flank of the Athabasca Basin, Canada
The review of historic exploration data identified six prospective targets from geological mapping, surface sampling, diamond drilling and reprocessed geophysical data.
The company has also completed an airborne gravity survey at the Hidden Bay Uranium Project which confirmed six high order anomalies.
The airborne gravity survey was designed to identify gravity lows which can be caused by clay alteration of the host rock, potentially due to hydrothermal fluids associated with unconformity uranium deposits.
An initial site visit has also been completed to establish logistical requirements and an on-ground review of recently collated historical data.
“The Hidden Bay Project presents as one of Valor’s best opportunities in the Athabasca uranium province,” Executive Chairman, George Bauk, said.
“The recent review of the historical data has highlighted several excellent untested structural targets that have now been confirmed by the recently flown gravity survey. These targets will be prioritised for first pass drilling following the completion of radon surveys.
“The targets at Hidden Bay have been identified as high priority based on Valor’s geophysical consultants significant work experience in the Athabasca Basin with major companies.
“We are just 20km south of the historic Rabbit Lake Uranium mine and Hidden Bay looks to be in a similar geological setting. The Cameco owned Rabbit Lake Uranium Mine was the longest running uranium mine in North America with over 41 years of mining, producing over 203 million pounds of uranium concentrate.
“Whilst Rabbit Lake is currently closed, current Indicated Resources sit at 1.836Mt grading 0.95% U3O8 for 38.6 million pound of contained metal. The Rabbit Lake deposit represents our primary exploration target type given our similar geological and geophysical setting, with an opportunity to discover both basement and unconformity style uranium deposits.
“There has been one hole drilled in 35 years, highlighting the lack of exploration at this project and the broader region and the advancement of modern exploration techniques that provide significant data that simply was not available in previous exploration programmes.”
For further information please visit: https://www.valorresources.com.au/
