{"id":11250,"date":"2022-02-15T02:01:38","date_gmt":"2022-02-15T02:01:38","guid":{"rendered":"https:\/\/economicherald.net\/?p=11250"},"modified":"2022-02-15T02:01:38","modified_gmt":"2022-02-15T02:01:38","slug":"valor-resources-keeps-its-hook-lake-uranium-promise","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11250","title":{"rendered":"Valor Resources keeps its Hook Lake uranium promise"},"content":{"rendered":"<p>Valor has more than met its first year expenditure requirement to earn its 80% interest in the Hook Lake uranium project in the Athabasca Basin, Saskatchewan.<\/p>\n<p>Over a busy 12 months, the company has spent more than C$750,000 ($825,901.69) on two airborne geophysical surveys, field work programs, interpretation of both the data from the 2021 exploration program and historical data.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/valor-resources-val\/\"><strong>Valor Resources (ASX:VAL)<\/strong><\/a> also kicked off its maiden 2,500m drill program in January, with the company flagging more drilling and additional field work over the next 12 months.<\/p>\n<p>The company says expenditure incurred over Year 1 rolls over into its Year 2 commitments.<\/p>\n<p>\u201cModern technology has allowed the team to work well over two continents during COVID-19 travel restrictions to develop our initial targets on the project which we are drilling now,\u201d executive chairman George Bauk said.<\/p>\n<p>\u201cThrough the knowledge and experience of each of those involved and utilising the data on the project, we have developed a work program for the coming 12 months to target uranium mineralisation.<\/p>\n<p>\u201cThe funds raised in December 2021 of A$5.4m 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.\u201d<\/p>\n<h2><strong>Red hot uranium address<\/strong><\/h2>\n<p>Hook Lake covers 25,846 hectares about 60km east of the Key Lake uranium mine in northern Saskatchewan \u2013 a known uranium province with historical production of more than 500Mlbs of U3O8 from McArthur River and Key Lake.<\/p>\n<p>Mineralisation at Hook Lake is shallow and structurally controlled while the mineralisation style is considered to be simple relative to other unconformity-hosted deposits.<\/p>\n<p>The project is ideally located close to two all-weather highways and grid power.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Valor Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/valor-resources-keeps-its-hook-lake-uranium-promise\/\">Valor Resources keeps its Hook Lake uranium promise<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Valor has more than met its first year expenditure requirement to earn its 80% interest in the Hook Lake uranium project in the Athabasca Basin, <a href=\"https:\/\/economicherald.net\/?p=11250\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11251,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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