Hook Lake

Overview

16 contiguous claims covering 25,846 ha (258km²)

Located 60km east of Key Lake Uranium Mine and 60km southeast of McArthur River Uranium Mine:
- Total historical production of McArthur River/Key Lake is >500Mlb U₃O₈
- Mineralisation is shallow and structurally controlled
- Deposit style at McArthur River/Key Lake is basement-hosted and simple relative to other unconformity hosted deposits
Hook Lake Project is situated close to two all-weather highways and grid power
Several prospects identified by previous explorers some with surface high-grade uranium mineralisation (S-Zone)
Exploration completed by Valor in 2021 included airborne geophysics (VLF-EM, Magnetics, Radiometrics) and surface sampling.
Detailed interpretation of all airborne geophysical data was completed by Valor in 2021, which was then integrated with historical and geochemical surface data to determine drill targets

Surface sampling by Valor at the S-Zone prospect in 2021 returned:

2% U₃O₈, 499g/t Ag, 5.05% TREO, 14.4% Pb (Float)
- TREO includes 11,797ppm Nd₂O₃+ Pr₆O₁₁ and 1,825ppm Dy₂O₃
4% U₃O₈, 507g/t Ag, 3.68% TREO, 14.5% Pb (Rock Chip)
- TREO includes 8,562ppm Nd2O3 + Pr6O11 and 1,676ppm Dy2O3
1% U₃O₈, 435g/t Ag, 2.88% TREO, 8.8% Pb (Rock Chip)
- TREO includes 7,054ppm Nd₂O₃+ Pr₆O₁₁ and 1,139ppm Dy₂O₃
92% U₃O₈, 0.81% TREO, 2% Pb (Rock Chip)
42% U₃O₈, 1.17% TREO, 1.8% Pb (Rock Chip)
Anomalous rock chip results also returned from West Way prospect with up to 0.64% U₃O₈and molybdenum assays of 3.4% and 1.9%.

Maiden drilling program completed in March 2022

Eight hole, 1,757m diamond drilling program completed in March 2022 at the S‑Zone and V-Grid targets
Drilling to test the extent of mineralisation at the S-Zone and the historical V-Grid , a geochemical and structural target
Elevated radioactivity and alteration zones encountered in several holes at S-Zone target, assays pending
Uraninite mineralisation recorded in drill hole DDHL22-002 at S-Zone within a 3.5m sub-vertical zone of elevated radioactivity and alteration
Airborne Gravity survey recently completed at Hook Lake to help identify new drill targets