Valor Resources Ltd (ASX:VAL) has identified priority uranium targets in radon-in-soil surveys over large gravity targets at the Hidden Bay Uranium Project, near the major historic Rabbit Lake Mine in the Athabasca Basin, Canada.
The surveys were designed to follow up on six prospective targets identified from previous work completed by Valor, comprising a detailed review of historical exploration data and an airborne gravity gradiometry (AGG) survey.
Targets were situated close to the Athabasca unconformity, with the potential for both basement-hosted and Athabasca sandstone-hosted uranium deposits.
Looking ahead, follow-up field programs and further radon surveys are proposed, with drilling planned for 2023.
“Identified as a high priority”
Valor executive chairman George Bauk said: “The radon survey at Hidden Bay has provided us with further confidence in the targets outlined earlier this year and allowed us to prioritise the gravity targets for drilling.
“The radon targets at Hidden Bay have been identified as high priority by RadonEx, based on their extensive experience and knowledge of the geology and uranium deposits of the Athabasca Basin.
“The Hidden Bay area is dominated by thick glacial deposits, lakes and muskegs, meaning conventional surface geochemical sampling is ineffective, resulting in the use of radon in soil sampling.
“RadonEx’s expertise in interpreting the Radon data enables them to distinguish between transported surficial radioactivity and real bedrock-sourced radon diffusion trends.”
Radon surveys
Valor has completed a Radon Flux Monitoring (RFM) survey at the Hidden Bay Uranium Project and an additional reconnaissance field visit.
The survey was completed in August on behalf of Valor by RFM survey specialists, RadonEx Ltd.
The results of the radon survey were interpreted based on the radon flux results considered in combination with the station-by-station scintillometer (CPS) readings, local topography, soil conditions and RadonEx’s experience with uranium exploration utilising passive ionisation chambers in the Athabasca Basin.
About Hidden Bay Project
The Hidden Bay Project is just 20 kilometres south-southwest of the Rabbit Lake Mine, which produced 203 million pounds of uranium concentrate over 41 years.
It has a similar geological setting to Rabbit Lake, however, only a single drill hole has been completed in the Hidden Bay claim area in the past 35 years.
Bauk adds: “Importantly, we are just 20 kilometres south of the historic Rabbit Lake Uranium mine, which was the longest-running uranium mine in North America with over 41 years of mining, producing over 203 million pounds of uranium concentrate.
“While Rabbit Lake is currently closed, current indicated resources sit at 1.836 million tonnes grading 0.95% U3O8 for 38.6 million pounds of contained metal (Cameco Corp. Website: Resources as of December 31, 2021).
“Hidden Bay has a similar geological setting to Rabbit Lake, with the potential for both basement-hosted and unconformity-style uranium deposits.
“There has been just one hole drilled in the last 35 years within the Hidden Bay claim area, highlighting the lack of modern exploration at this project and the broader region.
“Modern exploration techniques, such as airborne gravity and radon surveys of this nature, were simply not available in previous exploration programs, opening up an exciting discovery opportunity for Valor.”