Valor Resources Acquires High-Grade Uranium-Rare Earths in Canada
- Category: tungsten‘s News
- Published on Friday, 10 September 2021 21:48
Valor Resources, a company listed on the Australian Securities Exchange, is doing business in Canada. This up-and-coming prospector discovered a new high-grade uranium-rare earths in the debris of the Hook Lake project. In addition, the discovery of high-grade rare earths mineralization of silver, lead, and key rare earth elements neodymium, praseodymium, and dysprosium has contributed some unexpected value to the project.
The Valor's Hook Lake project covers about 300 square kilometers of uranium-rich strata on the southeastern edge of the Athabasca Basin, about 700 kilometers northeast of Edmonton, Canada. The project is one of five projects owned by Valor in a vast mining area, and it now controls more than 980 square kilometers of major uranium hunting grounds.
The area is known for its high-grade uranium mines, including Cluff Lake, Uranium City, and Rabbit Lake operations and Cameco’s high-spec Cigar Lake underground mine, where the average ore grade is as high as 15%. Uranium oxide and grinding operation pumps are produced annually approximately 4,600 tons of uranium oxide.
A total of 57 samples were collected from the Hook Lake project area, among which the best laboratory results of the Hook Lake S area exploration area confirmed high-grade uranium mineralization.
Seven samples of cuttings were collected from the trench, and four of them measured high-grade uranium-containing up to 6% uranium oxide. In the latest round of tests, the total rare earth oxides with a rare earth content of more than 0.5%, more than 50 grams of silver, and 1.8% of lead per ton.
The plan was implemented by the consulting contractor Dahrouge and focused on confirming the geological assumptions for the uranium deposits in Area S and the West Way exploration area. The fieldwork is also aimed at following up the recently completed aerial geophysical survey, and then identifying the priority targets, which highlighted a large number of new uranium anomalies in the northwestern part of the company's license.
Hook Lake's S area exploration samples were taken from in-situ uranium mineralization within biotite gneiss. Interestingly, a boulder sample located about 300m east of the Hook Lake trench also returned high-grade uranium and rare earths. The content of uranium oxide was as high as 59.2% and the total amount of rare earths was as high as 5.05%.
The Hook Lake high-grade uranium and rare earth mineralization are interpreted as being controlled by structure and located at the intersection of the northeast-southwest shear zone and possible north-south fracture structure. In addition to the downdip/potential of the direct Hook Lake target, management indicated that further structural targets along the northeast and southwest directions are also possible.
In the West Way exploration area, about 6.5 kilometers north of the Hook Lake exploration area, five grab samples were collected, three of which contained abnormal uranium. Interestingly, two of the three samples returned high-grade molybdenum, with a molybdenum content of 3.4% and 1.9%, respectively.
Valor Resources said, “fieldwork is needed to improve the geological understanding of West Way and develop drilling targets. To further investigate this prospect, Valor expects to conduct follow-up fieldwork in October and plans to conduct drilling in the Canadian winter. The results announced highlight the huge potential of the Hook Lake project. We have not only confirmed the remarkable outcrop of uranium mineralization grade up to 59% U3O8, but we have also seen other remarkable results, such as rare earths with a grade of more than 5% TREO.”
Valor said, "The project is one of five projects owned by Valor across the vast mineral field, where it now controls more than 980 square kilometers of prime uranium hunting ground. The region is famous for its high-grade uranium mines which include the Cluff Lake, Uranium City and Rabbit Lake operations and Cameco’s high profile Cigar Lake underground mine, where the average ore grade tops an astonishing 15 per cent uranium oxide and the milling operation pumps out around 4,600 tonnes of uranium oxide per annum."
Valor Resources’s field season has begun, and as the lucrative energy metals regain popularity, the company appears to be well-positioned in this high-grade uranium jurisdiction. As Bauk said: "This is one hell of an exciting project, right commodity, right location and right time."
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