ValOre Identifies High-Priority Targets for Fully Funded 2022 Exploration Program at Angilak Property - Seite 2

Figure 1: Regional Plan Map of Angilak Property is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1770ab54-4e1d-4665 ...

Lac 50 Resource Expansion

The 2013 Lac 50 inferred mineral resource comprises 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds (“Mlbs”) of U₃O₈, representing Canada’s highest grade uranium deposit outside of the Athabasca Basin. In addition to uranium, the Lac 50 Trend contains significant quantities of silver, molybdenum and copper as outlined in the resource, and is interpreted as a basement hosted, vein-hydrothermal type, unconformity-associated uranium deposit. CLICK HERE for a summary table of the Lac 50 inferred resource estimate.

Lac 50 hosts significant resource expansion potential, with multiple high-grade U₃O₈ extension targets remaining wide open. Mineralization occurs as southwest plunging shoots, which have been traced by drilling to a maximum vertical depth of approximately 380 metres (“m”) and along a strike length of over 6 kilometres (“km”).

Resource Expansion Target (J4 West - Example)

Lac 50’s J4 Zone (“J4”) contributes 15.3 Mlbs of U₃O₈ grading 0.75% U₃O₈, 30.1 g/t Ag, 0.20% Mo and 0.26% Cu to the overall Lac 50 Trend resource. J4 remains entirely open down-plunge, and the re-processed ground VLF-EM data highlights a distinct off-set and interpreted continuation of the uranium-rich conductor immediately to the east-southeast of the resource zone. See Figures 2 and 3 below for a plan maps and 3D cross sections of J4, showing the fully open high-grade U₃O₈ shoots at depth, and the potential for continuation of the J4 and Ray zones along their interpreted fault offset to the west.

Similar resource upside has also been identified at Lac 50’s Eastern Extension (“EE”), Western Extension (‘WE”) and Main Zone (“MZ”), all of which will be considered for targeted expansion drilling.

Figure 2: Plan Map of J4 and Ray Resource Zones, and J4 West Resource Expansion Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ee093c2-242f-410f ... 

Figure 3: Cross Section of J4 and Ray Resource Zones, and J4 West Resource Expansion Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d426a902-79ec-4878 ...

Target Advancement (Blaze - Example)

The Blaze Target (Figure 4) is located approximately 2 km west of the Lac 50 Trend. Mineralization occurs as complex pitchblende veins and disseminated sulphides in quartz-carbonate veins and breccia. The Blaze Target has been drilled across a strike length of 100 m, with significant mineralization intersected between 30 and 126 m depth below surface. A total of 3,466 m in 24 drill holes drilled in 2010 and 2011 investigated mineralization at Blaze. The most notable Blaze drill hole is 11-BZ-010 assaying 1.01% U₃O₈ over 25.4 m. Subsequent drill holes suggest the true width of this intercept to be roughly 4 m. Blaze is untested by drilling for at least 1000 m to the west-northwest along a strongly anomalous uranium-in-soils trend (EL) and related to a 600 m VLF-EM conductor.