Company
ASX:VAL
Valiant Gold is an emerging Western Australian gold company focused on unlocking value from proven Murchison assets. Spun out of Westgold Resources, the company holds 100% of the Reedy and Comet gold projects - brownfields operations with historical production of over 1Moz and a combined 1.2Moz* Mineral Resource.
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“What is particularly exciting about this project is the new targets that continue to be identified by the team in Peru, with two new targets already identified in the first field program of 2022,” says chairman.
“A highly professional exploration program has been conducted which is a credit to the team in Peru and Australia. The results from the program so far are truly exciting and we are chomping at the bit to keep pressing forward," says chair.
“The funds raised in December 2021 of A$5.4 million through the Canadian Flow Through Scheme, will enable us to advance the Hook Lake Uranium Project and our other six properties in the Athabasca Basin.” - George Bauk
“This funding provides the company with the ability to progress both the Canadian Uranium projects and the Peruvian Picha Copper/Silver Project, ” executive chairman George Bauk, said.
The company has set the ball rolling to acquire two uranium projects in the Athabasca Basin, Saskatchewan, Canada, which produces over 20% of the world’s primary uranium supply.
The Hook Lake project has many prospective uranium targets with the team prioritising the S-Zone and the V-Grid as the initial two areas of focus.
This comes hot on the heels of strong results from the 2021 exploration program at Picha Project.
Valor Resources has acquired seven new uranium tenements and progressed the Hook Lake Project into exploratory drilling programs while reiterating its focus on copper in Peru.
“These latest exploration results provide further support to our belief that we are dealing with a significant mineralising system at Picha. 2022 promises to be a very significant year in the company’s development as we get to drill test th
The drill targets at Hook Lake are highlighted by the S Zone target where surface sampling by Valor returned assays of up to 59.2% U3O8.
The company set out to explore the property’s copper potential after encountering some promising surface mineralisation.
Valor will use the cash injection to expand and accelerate exploration across its two main Athabasca Basin properties: the Hook Lake and Cluff Lake uranium assets.
“The Picha project continues to exceed expectations. The latest results confirm the enormous potential of the area. We now plan to move rapidly towards the next phase with drilling preparations already underway," says chairman.
“The work completed to date by our team in Peru has confirmed widespread copper mineralisation across the property,” says executive chair.
"Over the past month with the increase in the spot uranium price to over US$50/lb we have seen an unprecedented land grab in the Athabasca Basin. Most of the basin has been pegged which highlights the excitement and prospectivity of this ar
The assay results were taken from Valor’s recently completed on-ground field program at Hook Lake, a Canadian uranium project it holds a right to earn an 80% interest in.
The company’s shares will remain in a trading halt until Tuesday, August 31, or when an announcement is released to the market.
Disappointing reporting results dragged the market down, with eight of the 10 worst-performing stocks reporting in the past two days.
“This project comes with so much data and prospectivity, it is hard to believe that no work has been undertaken for decades,” says MD.
50 million Unlisted Options expiring on February 11, 2024, have been exercised at A$0.008 each to raise A$400,000.
