Valor Gold Defines Non-Refractory Exploration Targets at Courageous Lake
Valor Gold Defines Non-Refractory Exploration
Targets at Courageous Lake
Toronto, Ontario--(Newsfile Corp. - September 17, 2026) - Valor Gold Corp. (TSX: VGC) (OTCQB:
VLGDF) ("
Valor
" or the "
Company
") is pleased to announce that it has refined several drill targets
along the Tundra-Salmita trend following a summer field program of core relogging and resampling.
Based on this review, Valor has defined five priority areas for targeting non-refractory gold systems that
could significantly improve project economics.
Mark Ashley, CEO of Valor, commented, "Expanding and integrating the Walsh Lake deposit into the
mine plan could have significant implications for the Courageous Lake project. Walsh Lake is a near
surface, non-refractory deposit and therefore could enhance project economics by sequencing its
development early in the mine plan. We are beginning to understand the structural controls on
mineralization, providing us with several opportunities for expansion of the currently defined mineralized
footprint as well as refining our domains for resource estimation. We are looking forward to drill testing
Walsh Lake with a substantial diamond drill program in early 2027."
Infill drilling at Walsh Lake
Valor's initial priority will be to drill the Walsh Lake deposit to a measured and indicated resource. The
deposit is currently delineated as an inferred mineral resource of 4.1 million tonnes grading 4.2 g/t gold
containing 550 Koz gold. Mineralization is defined over a 1km strike length and to around 300m in depth.
The Walsh Lake deposit is currently drilled at a drill spacing of 50m with approximately 16,600m of
diamond drilling defining the resource. Valor Gold anticipates a further 12,000m will be required to attain
sufficient pierce points to delineate measured and indicated resources with the goal of integrating this
deposit into an updated prefeasibility study.
Depth Extension at Walsh Lake
Detailed relogging has resulted in a refined structural interpretation at the Walsh Lake deposit. There
appears to be strong structural and lithological controls on gold mineralization. Mineralization occurs in
sheared rocks at the contact between greywackes and mafic volcanics. Gold occurs on the fracture
surfaces or on margins of coarse-grained arsenopyrite adjacent to and within quartz veins. A syn-mineral
fold in the centre of the deposit focuses the best intercepts at Walsh Lake; the deepest holes along this
hinge (hole CL-210) zone assayed 21.2m of 8.16 g/t Au at 448m (330m true depth). Figure 1 outlines a
long section through this hinge, indicating the down dip extension of this system is open at depth to the
northwest.
Follow up of these intercepts at depth will be an additional priority of the 2027 drill program.
Figure 1 Walsh Lake hinge zone cross section
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Strike Extension at Walsh Lake
The Walsh Lake deposit also is open to the south. Walsh Lake is currently defined over a 1km strike
length. However, previous drilling campaigns at the deposit have indicated mineralization may extend a
further 300m. The prospective stratigraphic contact at Walsh Lake extends South to the Saucer Lake
target, a further 500m. Figure 2 shows the currently defined extents of mineralisation at Walsh Lake and
the previous drilling indicating mineralization that occurs to the south but is not yet captured in the
resource.
Figure 2 Walsh Lake Plan Map
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Olsen and Marsh Pond Targets
Drilling in the 1980s and subsequent follow up by Seabridge Gold Inc. ("
Seabridge
") has defined two
further opportunities that appear to be like the Walsh Lake deposit (Figure 3). Exploration in the 1980s
was focused on finding deposits like the Salmita Mine and the Tundra Mine. These mines were non-
refractory, operated at 25 g/t and 19 g/t, and produced approximately 280 Koz of gold. This exploration
focused exclusively on narrow, high-grade veins and resultantly any intercepts below 8 g/t gold were
considered below cut-off grade. Seabridge tested several of these targets in 2018 with results such as
40.4m of 3.04 g/t gold from 43.8m in hole CL-286 at Olsen (see Seabridge's news release dated May 9,
2018).
At Olsen, previous drilling has defined a mineralized strike length of 200m. Mineralization occurs within
greywacke sedimentary rocks with moderate intensity silica and sericite alteration envelope. Throughout
this alteration envelope there is in rhombic arsenopyrite adjacent to a broad array of thin and planar
quartz veins.
At Marsh Pond, mineralisation occurs at the contact between felsic volcanic and sedimentary rock
believed to be the southern extension of the Salmita mine. Previous drilling has defined mineralization
over a strike length of 220m. At this contact, there is an intense, silicified zone with quartz-sulphide
veining containing rhombic arsenopyrite crystals.
Figure 3 Olsen and Marsh Pond Targets
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Baseline Environmental Studies
Valor has also reinitiated baseline environmental monitoring at Courageous Lake. This work included a
wildlife monitoring program with cameras stationed across the property, hydrology monitoring,
meteorology and fisheries work. This work will inform Valor's understanding of baseline data at the
project that is required for environmental assessment.
Scientific and Technical Information
The most recent technical report on the Courageous Lake Project is entitled "Courageous Lake Pre-
feasibility Study and Preliminary Economic Assessment, NI 43-101 Technical Report, Yellowknife,
Northwest Territories, Canada" dated March 23, 2026, with an effective date of January 5, 2024 (the
"
Technical Report
"). Readers are directed to the Technical Report for disclosure of QA/QC
procedures, methodology and data verification undertaken with respect to the exploration information
contained in this news release.
Inferred mineral resources are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as mineral reserves, and there
is no certainty that the results of the Company's Preliminary Economic Assessment (PEA) will be
realized. Mineral resources in the PEA mine plan are not mineral reserves and do not have
demonstrated economic viability. The PEA evaluates a conceptual expansion beyond the pre-feasibility
study pit and includes inferred mineral resources. See the PEA for relevant assumptions, parameters,
and risks.
The contents of this release have been reviewed and approved by Marcus Adam, P.Geo, Vice President
Exploration of the Company and a qualified person under National Instrument 43-101.
About Valor Gold Corp
Valor is a Canadian gold exploration and development company formed through the strategic spin-out of
the Courageous Lake Gold Project in the Northwest Territories. The Company's mandate is to focus
technical and financial resources on advancing a large-scale gold system through disciplined
exploration, resource expansion, and staged development planning. For further information about the
Company, please visit Valor's website at
www.valorgold.ca
.
On behalf of the Board of Directors
"
Mark Ashley
"
Chief Executive Officer and Director
For further information, please contact:
Tel: (647) 775-8803
Email:
Neither the TSX nor the OTC Markets nor their regulation services providers have reviewed or
accept responsibility for the accuracy or adequacy of this release.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" and "forward-looking statements" within the
meaning of applicable securities laws (collectively, "
forward-looking statements
"). All statements in
this release that address events, conditions, or developments that the Company expects or
anticipates will or may occur in the future are forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as "expects," "anticipates," "believes,"
"estimates," "plans," "intends," "potential," "projects," "targets," "may," "could," "would," "might," and
similar expressions. Forward-looking statements in this release include, but are not limited to,
statements regarding the planned diamond drill program at the Walsh Lake deposit in early 2027,
including the estimated 12,000 metres of additional drilling; the goal of delineating measured and
indicated mineral resources at Walsh Lake and integrating the deposit into an updated prefeasibility
study; the potential for expansion of the currently defined mineralised footprint at Walsh Lake,
including depth and strike extensions; the potential for non-refractory gold systems at Walsh Lake,
Olsen, and Marsh Pond to improve project economics; the characterisation of the Olsen and Marsh
Pond targets as opportunities that appear to be analogous to Walsh Lake; and the expectation that
baseline environmental monitoring work will inform the Company's understanding of data required for
environmental assessment.
Forward-looking statements are based on the beliefs, expectations, and assumptions of management
at the time such statements are made, including, without limitation, assumptions that the Company
will be able to obtain the financing necessary to fund the planned drill program and ongoing
exploration activities; the Company will receive all necessary permits and approvals required for its
planned exploration and development activities; the geological interpretations and structural models
underlying the exploration targets are accurate; mineral resource estimates will be confirmed or
improved by further drilling; economic conditions and gold prices will remain favourable for continued
development; key personnel and contractors will be available as required; and there will be no
material adverse change in the regulatory environment. Although management considers these
assumptions to be reasonable, they are inherently subject to significant business, economic,
competitive, regulatory, and other risks and uncertainties.
Forward-looking statements are subject to numerous risks, including, but not limited to, uncertainty in
the interpretation of geological data and the results of drill programs; the risk that further exploration or
drilling may not confirm existing resource estimates or expand the mineralised zones as anticipated;
the risk that mineral resources may not be converted to mineral reserves; fluctuations in gold prices
and currency exchange rates; the Company's ability to obtain the necessary financing to fund
exploration and development activities; risks associated with environmental assessment and
permitting processes, including the risk of delays or refusals; regulatory and political risks; and
general market and economic conditions. These risks, as well as other factors, may cause actual
results, performance, or achievements to differ materially from those expressed or implied in the
forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company
undertakes no obligation to update or revise any forward-looking statements contained herein, except
as required by applicable law. Forward-looking statements in this news release represent
management's best judgment based on information available as of the date hereof; however, no
forward-looking statement can be guaranteed, and actual outcomes may differ materially.
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