Valor Resources Ltd (ASX:VAL) (OTCMKTS:VOYRF) (FRA:LFY) has entered into an agreement with TerraLogic Exploration Inc to provide mineral exploration services on its Hook Lake and Cluff Lake uranium projects in the Athabasca Basin of Saskatchewan, Canada.
The first phase of exploration work will be an airborne geophysical survey over the company’s Hook Lake Project.
TerraLogic, which is based in Canada, is finalising flight grid and technical parameters for the survey and soliciting quotes from airborne contractors with contracts anticipated to be finalised in early March.
Phase-II to begin in June/July
In conjunction with the new airborne survey, Valor is also compiling and reinterpreting data and results from previous exploration work on the property.
Based on the results of the phase-I airborne survey and a review of the historical data, Valor expects to implement the phase-II groundwork program in June or July 2021.
Details of this work will be the subject of forthcoming announcements but is likely to include further ground geophysics as well as geochemical surveys, geological mapping and surface prospecting designed to delineate drill targets for the phase-III program.
Assays up to 63% uranium
The Hook Lake project consists of 16 contiguous mining claims covering 25,846 hectares around 60 kilometres east of the Key Lake Uranium Mine in northern Saskatchewan.
Valor’s property hosts more than half a dozen significant uranium occurrences including the main Hook Lake and Zone S showing where grab samples from trenching returned assays up to 63% uranium.