Canadian company ValOre Metals Corp. (OTCMKTS:KVLQF) has a portfolio of premium quality exploration projects. The team strives to deploy capital and knowledge on projects that will benefit from considerable previous investment by prior owners and the existence of high-value mineralization on a large scale. The goal is to add tangible value through exploration, process improvement, and innovation.
Trading Data
On Monday, KVLQF stock moved up 5.37% to $0.3150 with more than 50K shares, compared to its average volume of 43K shares. The stock moved within a range of $0.2629 – 0.3150 after opening trade at $0.2655.
ValOre’s Second Core Rig Commences Drilling, with First Drill Intercepting Multiple Zones of Shallow Radioactivity at Dipole Uranium Target, Angilak Property
ValOre Metals Corp. shared an update on August 01, 2022, regarding the 4,500m core program at ValOre’s 100% owned 59,483-hectare Angilak Property Uranium Project, situated in Nunavut Territory, Canada.
ValOre’s VP of Exploration, Colin Smith, has said that two diamond drill rigs are presently drilling at Dipole, as part of a 4,500 m program to test the Dipole and J4 West uranium targets – 3,000 m planned in 16 holes and 1,500 m planned in 24 holes, respectively. The first rig has intercepted multiple shallow zones of strong radioactivity, including 12,000 CPS at 56 m vertical depth, and 9,361 CPS at 98 m vertical depth in drill hole 22-DP-002.
Drill hole 22-DP-001 intersected a near-surface zone of radioactivity (4,000 counts per second from 49.82 to 50.20 m) but was subsequently lost at 78 m hole depth. The hole terminated above the anticipated depth of the lower zone. Drill hole 22-DP-002 was drilled to a target depth of 178 m from the same pad (tilted to a -75° dip from a -70°), and intersected 6 zones of radioactivity.
Zones of radioactivity correlate well with mineralized intercepts in the up-dip 2022 Reverse Circulation drill holes and are characterized by intensely hematized and brecciated graphitic tuffs, hosted within a broader package of foliated basalt. The 2022 Reverse Circulation drill program intersected near-surface radioactivity in 22 of 27 holes, with vertical depths of radioactive zones ranging from 7 to 110 meters, at the Dipole, Yat, and J4 West targets.
The Angilak Property has district-scale potential for uranium, precious, and base metals. Ever since acquiring it, 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. The Lac 50 NI 43-101 Technical Report, as effective from March 1, 2013, is defined as an inferred resource estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one of the highest-grade uranium resources on a global basis.
Key Quote
“Two diamond drill rigs are now drilling at Dipole as part of a 4,500-metre program to test the Dipole and J4 West uranium targets,” stated ValOre’s VP of Exploration, Colin Smith. “The first rig has intercepted multiple shallow zones of strong radioactivity, including 12,000 CPS at 56 m vertical depth, and 9,361 CPS at 98 m vertical depth in drill hole 22-DP-002.”
Technical Data
KVLQF stock is trading above the 20-Day and 50-Day Moving averages of $0.27 and $0.28 respectively. However, the stock is trading below the 200-Day moving average of $0.36 . The company has a total market capitalization of $44.73 million.
