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ValOre Metals Announces Option Agreement on Hatchet Lake Uranium Project, Athabasca Basin, Saskatchewan
VANCOUVER, British Columbia, Nov. 10, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”, or the “Company”) (TSX-V: VO, OTC: KVLQF, Frankfurt: KEQ) today an
About this update from Valore Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 10, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”, or the “Company”) (TSX-V: VO, OTC: KVLQF, Frankfurt: KEQ) today announced that it has entered into a definitive property option agreement with Azincourt Energy Corp (the “Optionee”, “Azincourt”) (TSX.V: AAZ, OTC: AZURF), an arms-length party, pursuant to which the Optionee has been granted the option (the “Option”) to acquire up to a seventy-five percent interest in the Hatchet Lake Uranium Project (the “Project”). The Project consists of a series of six mineral claims located in the province of Saskatchewan. ValOre’s Chairman & CEO Jim Paterson stated: “Azincourt boasts a team of highly experienced and well capitalized Saskatchewan-focused uranium explorers. We are excited to work together with Azincourt to explore the Hatchet Lake Uranium Project and allocate the time and resources that Hatchet Lake merits in this rapidly improving uranium pricing environment.” Hatchet Lake is a 13,711-hectare uranium exploration project adjacent to the northeastern margin of the Athabasca Basin, situated along the underexplored northeast extension of the Western Wollaston Domain (“WWD”) and Wollaston-Mudjatik Transition Zone (“WMTZ”). This highly-prospective belt hosts the majority of known Canadian uranium deposits and all of Canada’s operating uranium mines (Figures 1 and 2). Located 39 kilometres (“km”) along-trend from the Roughrider uranium deposit and within 29 km of Cameco’s Eagle Point uranium mine, Hatchet Lake features multiple, shallow, unconformity-related basement uranium targets based on previous work by both Hathor Exploration Ltd., Rio Tinto, and ValOre (formerly Kivalliq Energy), including geophysics, and boulder, soil, lake sediment and bio-geochemical sampling. The project contains substantial historic exploration datasets with extensive uranium anomalism and showings to help guide exploration programs. Two high-priority zones on the property have been defined: the Upper Manson and SW Scrimes zones. Previous work includes 140 line-km ground geophysics and a 2007 VTEM survey that identified 30 conductive targets with a combined 53 line-km of strike length. Total samples include 1583 soil, 2404 bio-geochemical, and 24 radioactive rock samples with assay results up to 2.43% U3O8. Geochemical anomalies highlight a variety of urani...