Valor Resources Limited has announced that it has expanded its strategic exploration footprint in the area around the world-class Athabasca Basin in Canada after reaching agreement to acquire privately owned company 1325020 B.C. Ltd, which holds a strategic claims package adjoining Valor’s existing Surprise Creek Uranium Copper Project within the Beaverlodge Uranium District.
The portfolio includes the 160 km2 Pring Lake claim package, which adjoins the Surprise Creek tenements to the north-west, the Athlodge claim, which is located 20 km north of Uranium City and the 198 km2 SYME claim package which lies to the south of the Athabasca Basin.
The mineral claims represent an important strategic addition to Valor’s extensive portfolio in the Athabasca Basin, which hosts some of the largest and highest-grade uranium deposits in the world including McArthur River, Cigar Lake, and Arrow. Historical exploration across the 1325020 B.C.Ltd claims package has returned encouraging results, with grab sampling within the Pring Lake claims returning results of up to 5.44% U3O8 at the BOB Claims uranium occurence, while several copper and base metals occurrences have also been noted within the claim areas.
Commenting on the transaction, Valor Executive Chairman, George Bauk, said: “This is an exciting addition to our existing portfolio in the area of the world-class Athabasca Basin. The addition of these strategically located tenements to our existing Surprise Creek Project will add significant value to our uranium portfolio in Canada, with the new tenements including numerous historic indications of high-grade uranium and copper.
“There are also multiple noted pegmatite occurrences within the claims package which have never been tested for lithium or REE potential. This remains an exciting opportunity to be pursued by our team once we can get on the ground to explore.
“With the spot uranium price continuing to climb, and now trading above US$69 a pound, the investment climate for high-grade uranium exploration in the Athabasca Basin has never been better. We are really looking forward to reviewing the datasets which 1325020 B.C.Ltd has assembled for these tenements and getting to work to define targets for on-ground follow-up, further strengthening our already impressive pipeline of opportunities in the region.”