PERTH (miningweekly.com) – Explorer Valor Resources will raise A$5.4-million in a share placement to fund exploration activities in Canada.
The ASX-listed company this week said it would issue 319-million shares, at a price of 1.71c each, under its existing placement capacity.
“The flow-through funding completed this week has provided the company with the funds to aggressively advance the projects in 2022 with the first key activity being the Hook Lake drilling programme which is set to commence in early January. Camp construction is scheduled for early December 2021 and we are currently finalising the selection of a drilling contractor,” said Valor executive chairperson George Bauk.
“Significant work has been undertaken by both Dahrouge Consulting and Terra Resources to compile all data both historical and recently completed activity by Valor in 2021 to plan the drill programme. We have put the effort in to ensure we have designed the drilling programme to target our highest priority targets. The team is well credentialed with experienced geoscientists who have explored for uranium across many continents and in particular the Athabasca basin.
“We have seven quality projects and following the completion of the drilling programme at Hook Lake, we will have a group of geoscientists continue working on the other properties. Cluff Lake will be the initial focus but we will continue to look for quality exploration targets on all of our projects in the basin,” said Bauk.
“Uranium is a key ingredient in the global push for a net-zero carbon emission strategy. This energy source provides the world with a clean and reliable baseload solution to our changing energy sources. Canada is a world-class mining and exploration jurisdiction and has a world-class uranium province in the Athabasca basin, home to the highest average uranium grade produced over the last 60 years.”