Strateco Resources Inc.
TSX : RSC
FRANKFURT : RF9

Strateco Resources Inc.

April 23, 2012 08:31 ET

Strateco's New 2012 Drilling Program Generating Excellent Results

BOUCHERVILLE, QUEBEC--(Marketwire - April 23, 2012) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to report early results from the 2012 drilling program on its wholly-owned Matoush uranium deposit. The goal of the 15,000 metre drilling program is to better define the mineralized zones discovered in 2010 and 2011, so as to increase the total resource in general and the Indicated resource in particular.

Four holes have been drilled on the Matoush uranium deposit for a total of 2,522 metres. Two of these holes, drilled in early April on the southern extension of the new MT-34A lens, intersected very high grades over substantial widths. Hole MT-12-003 intersected 2.19% eU3O8 over 6.7 metres and Hole MT-12-004 intersected 0.50% eU3O8 over 25.5 metres, including 2.76% eU3O8 over 2.8 metres. These holes were drilled within a radius of about 50 metres of Hole MT-11-032, which had intersected 0.36% U3O8 over 27.5 metres in 2011.

The two other holes were drilled on the Matoush deposit to test the northern and southern extensions of the mineralization of the new MT-02 lens. Hole MT-12-001, drilled at the southern end, intersected 0.05% eU3O8 over 0.9 metre, and Hole MT-12-002, which confirmed the northern extension of the mineralization, intersected 0.34% eU3O8 over 1.6 metres.

See "Matoush Project-Longitudinal" section at www.stratecoinc.com.

Table 1: Drill Results

Lens Hole Collar AZ
(°)
Dip
(°)
From
(m)
To
(m)
Length
*
(m)
eU3O8
**
(%)
MT-02 MT-12-001 33+28 S 13+10 E 266 -54.4 726.4 727.3 0.9 0.05
MT-12-002 31+42 S 13+11 E 275 -48.0 636.5 638.1 1.6 0.34
MT-34
Southern
Extension
MT-12-003 38+08 S 11+37 E 271 -53.2 457.1 463.8 6.7 2.19
MT-12-004 38+08 S 11+37 E 285 -57.0 497.6 523.1 25.5 0.50
INCLUDING 503.0 505.8 2.8 2.76
Notes:
* True widths of the intersections have not been calculated.
** The letter "e" in eU3O8 indicates that this is an equivalent uranium grade determined using a gamma probe.

Four grass roots holes totalling 779 metres were also drilled on the Matoush Extension property in early March 2012. These holes were aimed at testing two geophysical lineaments and the radon anomalies identified by the survey carried out in the fall of 2011. Apart from the discovery of a new dyke, no uranium results were obtained.

Definition drilling on the Matoush project is ongoing. In all, 3,301 metres of the 15,000 metres planned for the 2012 program have been drilled to date. Strateco's president and chief executive officer, Guy Hébert, is very pleased with the start of the new program: "These drill results show that the Matoush project has some of the highest uranium grades in the world. We are on track to substantially increasing the project's mineral resources."

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. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.

Contact Information

  • Strateco Resources Inc.
    Guy Hebert
    President and Chief Executive Officer
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    ghebert@bbhgm.com

    Strateco Resources Inc.
    Jean-Pierre Lachance
    Executive & Exploration Vice President
    450-641-0775 or 1-866-774-7722
    450-641-1601 (FAX)
    jplachance@bbhgm.com

    Strateco Resources Inc.
    Jason Roy
    Consultant, Investor Relations
    647-780-2837 or 514-240-7662
    jroy@stratecoinc.com
    www.stratecoinc.com