ValOre RC Drilling Confirms Mineralized Uranium Envelope at J4 West Target

23 January 2023

Vancouver, B.C., ValOre Metals Corp. (“ValOre”; TSX?V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported assays for J4 West (“J4W”) and Yat (“Yat”) targets Reverse Circulation (‘RC”) drilling at ValOre’s 100% owned 68,552-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“Results from 2022 RC drilling confirm J4 West as a uraniferous structure, with all four sampled holes returning near-surface U3O8 mineralization, and two of the four holes with assay intervals above the Lac 50 resource cut-off grade,” stated ValOre’s VP of Exploration, Colin Smith. “J4 West remains fully open at depth, and along strike to the west, with the target conductor extending for an additional 800 m along strike towards the Eastern Extension of Lac 50. Assays remain pending for ten core holes, totaling 926 m of follow-up drilling.”

Highlights from J4 West and Yat RC Drilling:

J4 West 2022 Highlights

  • All four sampled RC drill holes from J4 West returned near-surface (35 to 65 metres vertical depth) uranium mineralization over a strike length of 200 metres, including the following highlights:
    • 3.1 metres (“m”) @ 0.21% U3O8 and 10.6 g/t Ag from 50.3 m in drill hole RC22-J4W-001
    • 1.5 m @ 0.38% U3O8 and 15.1 g/t Ag from 57.9 m in drill hole RC22-J4W-002;
  • Mineralization at J4W remains open at depth and along strike to the west, with highlights from the 2013 drilling (located immediately west of 2022 J4W drilling):
  • 0.30 m @ 1.06% U3O8 in drill hole 13-J1-002
  • 0.60 m @ 0.56% U3O8, 0.28% Mo and 15.5 g/t Ag in drill hole 13-J1-003;

2022 Yat RC Drilling

  • Three of four RC drill holes at Yat returned broad near-surface intervals of copper, silver and local uranium mineralization, including:
    • 63.8 m @ 0.11% Cu and 3.2 g/t Ag from 1.5 m in drill hole RC22-YAT-004
    • 42.6 m @ 0.15% Cu and 4.3 g/t Ag from 1.5 m, including 4.6 m @ 1.1% Cu and 20.8 g/t Ag from 1.5 m in drill hole RC22-YAT-003
    • 33.4 m @, 0.15% Cu and 4.4 g/t Ag from 6.1 m in drill hole RC22-YAT-002;
  • 1.5-kilometre-long uranium soil anomaly which is coincident with a strong 6.5-kilometre-long VLF-EM conductor is only drill-tested over 130 m of strike, and remains open to the southwest.

2022 RC Drilling, J4 West Target

J4 West mineralization style, geology and alteration assemblage is analogous to Lac 50 deposits, supporting an off-set mineralized extension 500 m to the southwest of the J4 resource zone. A total of 642 m of RC drilling was completed in six holes at J4W (formerly known as J1) in 2022. Drilling targeted an interpreted sinistral off-set and suspected continuation to the southwest of the high-grade western J4 Zone. For additional information on the J4W target, CLICK HERE for news release dated November 29, 2021, and CLICK HERE for news release dated June 15, 2022.

The six 2022 RC holes were drilled from three pads spaced 200 m apart, with two holes per pad angled at -45° and -65° to the north-northwest, testing a strike length of 400 m in between the area of previous drilling and the sinistral structure to the east (Figure 1). All four holes from the central and western pads (RC22-J4W-001 to RC22-J4W-004) intercepted near-surface uranium mineralization, including two holes (RC22-J4W-001 to RC22-J4W-002) with U3O8 intervals above the Lac 50 Trend resource cut-off grade of 0.20% U3O8 (Table 1). Mineralization occurs as a sheared interval of hematite-altered, graphitic and sulfidic tuff within a host sequence of foliated basalt and gabbro, analogous to the lithological units hosting mineralization at the Lac 50 Trend resource.

Two RC holes drilled from the eastern pad at J4W did not encounter anomalous  scintillometer counts per second (“CPS”) values, and thus were not sampled.

Ten core holes totaling 926 m were subsequently drilled in 2022, testing the along-strike continuity of radioactive intercepts drilled in the 2022 RC program. All core drill holes encountered anomalous radioactivity (>350 CPS), with a highlight of 15,821 CPS at 149 m vertical depth in drill hole 22-J4W-003. All assays remain pending.

2022 RC Drilling, Yat Target

A total of 383 m of RC drilling was completed in four holes from two pads at Yat in 2022, with holes drilled at -45° and -65° to the southeast. Drilling targeted at-depth extensions to high-grade precious metals (Pd-Pt-Au-Ag) and uranium values returned from 2016 trench channel sampling and frost heaved boulder assays. For additional information on the Yat target, CLICK HERE for news release dated June 2, 2022, and CLICK HERE for news release dated November 8, 2016.

Three of the four 2022 RC drill holes at Yat encountered broad (33.4 to 63.8 m wide), near-surface intervals of copper and silver mineralization, with localized anomalous uranium (Table 1). High-grade polymetallic mineralization that was encountered in 2016 trenching was not intersected by 2022 RC drilling and is interpreted to be restricted to centimetre-scale discontinuous veins and stringers hosted within 1.0 to 1.5 m wide structural zones in sandstone, conglomerate and Christopher Island volcanics of the Proterozoic Angikuni Basin.

The Yat target remains a priority Lac 50 style target at Angilak that warrants further exploration. 2022 ground VLF-EM geophysics defined a strong 6.5-kilometre-long extension to the primary Yat conductor, which is only drill-tested over 130 m of strike. This prospective structure is coincident with a 1.5-kilometre-long uranium soil anomaly which remains open along strike to the southwest (Figure 2).

Read the full release here.

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