Multiple surface rock chip samples returned more than 1%
U 3 O 8  including top hits of 6.13% U 3 O 8  and 1.03% copper as well as 3.96%
U 3 O 8  and 1.31% copper from the project near the Athabasca Basin.

Notably, six of these samples were taken from areas adjacent to the
Surprise Creek Fault and associated structures, which could indicate
possible controls on the mineralisation.

This is hugely significant given Valor Resources’ (ASX:VAL) aim of
discovering structurally controlled vein-type uranium mineralisation, a
potential sub-type of the basement-hosted unconformity-related
uranium deposit.

Equally important are high-grade copper samples – topping up at a
whopping 61.7% copper – which were returned from an area to the
southwest of the Surprise Creek/Plug Lake target.
Other rock chip results from this area include 27.6% copper, 9% copper
and 4.93% copper.

“These exciting results further validate the huge opportunity at our
Surprise Creek Project, demonstrating its potential to host
significant uranium and copper mineralisation,” executive chairman
George Bauk said.

“We are seeing two potential target types emerge – one primarily for
uranium with associated copper in the northern part of the project and
another in the south and central part of the project comprising just
copper.”

He added that historical drilling from 1968, which returned intercepts
of up to 2.1m at 4.37% U 3 O 8  from 57m at Surprise Creek, suggests that
the surface results could be related to significant mineralisation at
depth.

The project area has seen no modern exploration for uranium and
copper for over 40 and 20 years respectively, and Valor believes that
there is plenty more to find using more modern and accurate
exploration techniques.

“Following these results, we have pegged additional ground
immediately to the north of the project, and follow-up field work is
currently underway with further geological mapping and sampling,”
Bauk noted.

“We are also planning airborne geophysical surveys in 2023 to help
define drilling targets, as we increase the pace of exploration activity
ahead of what we believe could be a defining period for Valor next year
at Surprise Creek.”

Uranium targets at the project are located mainly in the northern part
of the project in the Surprise Creek Fault area and the Plug Lake area.

Mineralisation was predominantly found within east-west trending
hematitic breccias and veins of the north-northwest trending Surprise
Creek Fault with the highest grades occurring around its intersection
with a north-northeast trending splay.

This is variably associated with copper (visible malachite) and/or lead
mineralisation.

In the Plug Lake area about 1km to the east, five samples were collected
from historical trenches with three returning assays greater than 0.1%
U 3 O 8 .

Uranium mineralisation is found within small hematitic breccias/veins
associated with lenses of amphibolite.

Copper targets are located in the southern and central parts of the
project with seven samples collected from historical trenches and
outcrop in the northern portion yielding semi-massive chalcocite
mineralisation.

Six rock chip samples with disseminated sulphides and copper oxides
were also taken from of Tazin Group mylonitised granites and/or
metasediments to the south.

Valor noted that while it is still unclear what style of copper
mineralisation these occurrences might represent, the southernmost
area is located close to the regional unconformity between the
overlying Thluico Lake Group sediments and the older Tazin Group
mylonites, suggesting a possible genetic relationship.