ValOre Metals
ValOre Metals Angilak Property: Uranium in Nunavut
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  • ValOre (VO) has commenced a 4,500 metre diamond drill program at its 100 per cent owned Angilak Property Uranium Project, in Nunavut Territory, Canada
  • The 59,483-hectare Angilak Property has district-scale potential for uranium, precious and base metals
  • ValOre is a Canadian exploration stage company, focusing on the acquisition, exploration, and development of mineral resources
  • ValOre Metals Corp. (VO) is up 7.81 per cent, trading at C$0.345 per share 2:23 pm ET

ValOre (VO) has commenced a 4,500 metre diamond drill program at its 100 per cent owned Angilak Property Uranium Project, in Nunavut Territory, Canada.

Angilak 2022 diamond drill program highlights:

  • 4,500 m core drilling program to be conducted with 2 diamond drill rigs
  • Dipole target – 3,000 m planned in 16 holes
  • J4 West target – 1,500 m planned in 14 holes
  • Program goal is to incorporate drill results into future resource estimates

The 2022 reverse circulation drill program intersected near-surface radioactivity in 22 of 27 holes. It had vertical depths of radioactive zones ranging from 7 to 110 metres, at the Dipole, Yat, and J4 West targets. The company expects initial assay results from the completed RC drill program in the first half of August, 2022.

Colin Smith, VP of Exploration for ValOre, commented on the news.

“2022 RC drilling at the Dipole and J4 West targets intersected high-grade, near-surface, basement-hosted uranium. An immediate follow-up is warranted in the core drilling program. Two diamond drill rigs are at Dipole, with the first rig already drilling, and the second to commence within the week. Down-dip and along-strike core holes will test extensions to highly radioactive RC intercepts, including 65,535 CPS at ~30 m vertical depth (Dipole) and 22,146CPSat ~36 m vertical depth (J4 West)”.

The 59,483-hectare Angilak Property has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre has invested over CAD$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work supported the development of the significant Lac 50 Trend NI 43-101 inferred uranium resource estimate (“Lac 50”).

The Lac 50 NI 43-101 Technical Report defined an inferred resource estimate, representing Canada’s highest-grade uranium resource outside of Saskatchewan. It is also one of the highest-grade uranium resources on a global basis. Highlights include:

  • 43.3 Mlbs U3O8 in 2,831,000 tonnes grading 0.69% U3O8
  • Supported by 351 resource delineation drill holes totaling 62,023 metres
  • Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics
  • Lac 50 Trend is a 15 kilometer by 3 kilometer area with excellent potential for resource growth and new discoveries
  • Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth

ValOre is a Canadian exploration stage company, focusing on the acquisition, exploration, and development of mineral resources.

ValOre Metals Corp. (VO) is up 7.81 per cent, trading at C$0.345 per share 2:23 pm ET.


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