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ValOre Metals (TSXV:VO;OTC:KVLQF;FSE:KEQ0) upsized its original gross proceeds of C$7 million to C$11 million ensuring full financing for an exploration program at the company’s Angilak Property. ValOre Metals CEO Jim Paterson expounds on his excitement to get going in 2022 and deliver value.
“This year, the siren call was too strong and compelling with the closing of C$11 million financing for our Angilak property. Our strategy is to work to expand resources. We’ve got four targets that are adjacent to inferred resource zones and then there are about 20 targets. We just have to get after it, make the discoveries and show that it merits more attention,” said Paterson.
The 2022 Angilak exploration program will be composed of multi-faceted campaign – core drilling, Enzyme Leach (“EL”) soil sampling, ground geophysics, ground magnetics and VLF-EM. It will also cover district-wide prospecting, sampling, and mapping.
The Angilak Uranium project in Nunavut Territory holds Canada’s highest-grade uranium resource outside of Saskatchewan. It spans 49,619 hectares with district-scale potential for uranium, precious and base metals. It has a 2013 NI 43-101 Inferred Resource of 2,831,000 tonnes grading 0.69 percent U3O8, totaling 43.3 million pounds U3O8.
ValOre Metals CEO Jim Paterson says, “The long term and the short term goals of it is, we are funded for 2022 and we’re going to spend at least C$11 million. We’ve got targets that are too numerous to mention, so in the midst of all the hoopla around the uranium price and the equities, we will be active and we’re already funded and ready to rumble.”
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