Impact: Very Positive
ValOre Metals (VO) provided an update on reverse circulation (RC) drilling at its 59,483 ha, 100%-owned Angilak property, located in Nunavut. Dipole and Yat target drilling intersected near-surface zones of radioactivity in 17 of 20 RC holes (2,141m). Near surface mineralization at both targets occurs in stacked structures that appear open for expansion along strike and at depth. Assays remain pending from 315 samples, for a combined 480m, or 17 holes. Angilak continues to be one of our favorite uranium exploration properties and the key reason that we have covered Kivalliq/ValOre Metals for well over a decade. VO’s team continues to demonstrate its talent in advancing a pipeline of resources, zones, and targets, all while making discoveries. These two relatively new zones, located well away from its existing 43M lb resource, show a possibility of opening a new focus area at Angilak, further enhancing the project. The polymetallic nature of the Yat and other iron rich targets on the property might elevate potential for finding IOCG mineralization like found at Olympic Dam.