Sumary of Valor backers pump $5.4m in for Canadian uranium hunt:
- Credit: FileShare to FacebookShare to TwitterEmail UsCopy the LinkValor Resources has extracted a handy $5.4m from the market to throw at its Canadian uranium projects as it ramps up exploration activities amid strengthening uranium prices.
- The Perth-based explorer is knee deep in a flurry of exploration activities as the uranium price is spurred on by increased global demand for yellow cake.
- Valor is juggling seven projects in the uranium-rich Athabasca Basin of northern Saskatchewan, Canada that boasts some of the world’s highest-grade uranium deposits including Cameco’s Cigar Lake deposit which has a reported uranium oxide grade going a spectacular average of 15.92 per cent.
- Proceeds from the placement will reportedly be used to accelerate exploration activities at the two main projects – the Hook Lake and Cluff Lake projects – where several high priority targets have been earmarked for further investigation.
- The Hook Lake project covers around 300 square kilometres of uranium-rich stratigraphy on the south-eastern margin of the Athabasca Basin.
- Rock chip sampling across Valor’s Hook Lake project area revealed several high-grade uranium assays greater than 6 per cent uranium oxide, including a whopping 59.2 per cent uranium oxide, confirming the presense of historic high-grade uranium mineralisation.