July 27, 2009 16:48 ET
MONTREAL, QUEBEC--(Marketwire - July 27, 2009) - Strateco Resources Inc. (TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) ("Strateco") is pleased to announce a new uranium high grade intersection in the extension of the MT-34 lens.
In fact, hole MT-09-022 has intersected 0.99% eU3O8 over 30.6 metres including 5.98% eU3O8 over 4.5 metres.
This drillhole, with a pierce point located on section 34+85S at a vertical depth of 456 metres in the extension on the MT-34 lens, is one of the best holes drilled to date by Strateco on its wholly-owned Matoush property.
The MT-09-022 results are even more exciting since the pierce point is located outside of the resources estimated by Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA") published in September 2008.
Another drillhole is planned at the same elevation, 50 metres south of MT-09-022, to fill in the gap between holes MT-09-022 and MT-08-062 located 100 metres apart.
The true width of the mineralized sections has not yet been determined.
Location of pierce point of hole MT-09-022 can be seen on the MT-34 longitudinal section available on the company's website at www.stratecoinc.com.
As indicated in the press release dated July 8th, 2009, Scott Wilson RPA was mandated to realize a new resource estimate on the MT-34 zone. The complete report of this resource estimation should be available at the end of August 2009.
Since the drilling program began in February 2009, 20,000 metres of the planned 30,000 metres of exploration drilling in 2009 have been completed.
Strateco plans to carry out 60,000 metres of surface drilling per year in 2010 and 2011, in parallel with underground exploration work. The results of the surface drilling program should allow the maximum capacity of the Matoush ore processing plant to be established.
In 2010, Strateco plans to begin the environmental studies required for mill and tailings pond construction. These studies are required to obtain a mine construction permit.
Strateco is eligible for exploration tax credits equal to approximately 50% of surface exploration expenses until such time as it achieves commercial producer status.
This news release has been approved by Jean-Pierre Lachance, Geo, Executive Vice President of Strateco Resources Inc. which is the qualified person as defined in 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 Alberta, British Columbia, 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 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.
STRATECO RESOURCES INC.Guy HebertPresident and Chief Executive Officer450-641-0775 or 1-866-774-7722450-641-1601 (FAX)email@example.comSTRATECO RESOURCES INC.Jean-Pierre LachanceExecutive Vice President450-641-0775 or 1-866-774-7722450-641-1601 (FAX)firstname.lastname@example.orgSTRATECO RESOURCES INC.Audrey Vezina AngusInvestor Relations450-641-0775 or 1-866-774-7722450-641-1601 (FAX)email@example.com
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