Strateco Resources Inc.
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Strateco Resources Inc.

March 04, 2011 09:54 ET

Strateco Confirms the Presence of High-Grade Mineralization Between the MT-22 and MT-34 Lenses

BOUCHERVILLE, QUEBEC--(Marketwire - March 4, 2011) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce the results for the first four holes drilled in 2011 at Matoush. Located between the MT-22 and MT-34 lenses, these holes are part of the first phase of the 30,000-metre drilling program planned for this year. 

Hole MT-11-004, completed on March 3, 2011, intersected 0.28% eU3O8 over 8.1 metres, including 0.82% eU3O8 over 1.9 metres, at a vertical depth of 519 metres. Hole MT-11-002, whose pierce point lies about 60 metres from MT-11-004, intersected 0.09% eU3O8 over 6.1 metres, including 0.18% eU3O8 over 2.8 metres. Located between the MT-22 and MT-34 lenses, these two holes suggest either the presence of another lens or continuity of the MT-22 and MT-34 mineralization. The lateral distance between the MT-22 and MT-34 lenses is about 300 metres at a vertical depth of -500 metres.

  Collar Az. Angle From To Vert. depth Length U3O8
Hole East North (degrees) (degrees) (m) (m) (m) (m)* (%)
MT-11-001 13+11E 31+42S 278 -50 648.0 649.5 479 1.5 0.05%
MT-11-002 13+10E 31+41S 267 -50 653.5 659.6 489 6.1 0.09% e
including         656.8 659.6   2.8 0.18% e
MT-11-003 12+94E 33+32S 268 -55     606   <0.02% e
MT-11-004 13+08E 33+28S 285 -51 673.5 681.6 519 8.1 0.28% e
including         674.8 676.7   1.9 0.82% e

* Downhole

Notes:

  1. The use of the letter "e" as in "e U3O8" designates an estimated or equivalent U3O8 value determined using a calibrated gamma or spectral probe.
  2. The true width of the mineralized intersections has not yet been determined.

The location of these holes can be seen on the "Matoush Main Zone" longitudinal section on Strateco's website at www.stratecoinc.com.

Strateco will focus its drilling program on the area between the MT-22 and MT-34 lenses in the coming weeks in an effort to increase its mineral resource.

Guy Hébert, President and Chief Executive Officer of Strateco, said that: "One of the goals of the 30,000-metre drilling program for 2011 is to confirm and assess the potential of the large unexplored area between the MT-22 and MT-34 uranium-bearing lenses that we discovered in 2008. Hole MT-11-004 confirmed the presence of high uranium grades in this area, which lies within the sector covered by the underground exploration permit application and could eventually be mined using the same infrastructure as for the AM-15, MT-22 and MT-34 lenses."

This news release has been approved by Jean-Pierre Lachance, Geo., Executive and Exploration Vice President of Strateco and a qualified person as defined by National Instrument 43-101.

This news release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of British Columbia, Alberta, Ontario and Quebec and in the 10-K annual report filed with the US Securities and Exchange Commission.

CAUTIONARY NOTE TO U.S. INVESTORS - The United States Securities and Exchange Commission (SEC) permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.

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