Valor Resources has concluded the acquisition of two uranium-copper mineral claims in northern Saskatchewan, Canada, marking a significant expansion of its uranium portfolio.

The company, which announced the deal on 16 February 2023, is preparing for a year of active exploration amidst rising uranium prices.

The move enhances Valor’s position in a leading global uranium region.

Its recent acquisitions, including one announced on 24 October 2023, have consolidated Valor Resources’ holdings into a contiguous 197km² land package.

This area is situated around 30km west-north-west of the Beaverlodge Uranium District, known for the historical Gunnar and Eldorado (Ace-Fay-Verna) uranium mines.

The district’s uranium deposits are categorised as structurally controlled vein type, a subset of the basement-hosted unconformity related uranium deposits.

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By GlobalData

Historically, the Beaverlodge Uranium District has been a prolific producer, yielding around 57 million pounds (lb) of uranium until the early 1980s.

In 2022, Valor Resources conducted several field programmes including geological mapping and surface sampling.

These efforts identified uranium mineralisation along a 500m strike at the Surprise Creek Fault prospect, with rock chip samples containing up to 7.98% triuranium octoxide.

Valor executive chairman George Bauk said: “The Surprise Creek tenement package is an extremely exciting exploration asset in the current environment, located close to one of the world’s richest uranium-producing regions and with proven uranium potential from historic drilling but virtually no exploration in the past 40–50 years.

“This is a fantastic project for us to get our teeth into and we already have a walk-up drill target at the Surprise Creek Fault prospect. We are looking forward to finalising our exploration plans and getting on the ground at all of our uranium projects in the Athabasca Basin this year.

“With uranium recently surging through $100/lb and predicted to continue to rise, there could not be a better time to be exploring for high-grade uranium in a Tier-1 location!”

In October 2023, Valor Resources agreed to acquire a 500km² land package adjacent to its Surprise Creek uranium copper project in Saskatchewan.