| MONTREAL, CANADA--(Marketwire - April 22, 2009) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) is pleased to announce that the 30,000-metre exploration drilling program which started in February 2009 has already resulted in the discovery of two new mineralized zones on the Company's Matoush project.
The main zone, named MT-06, is on section 46+00S of Strateco's wholly-owned Matoush property, 1.0 km south of the MT-34 core zone. The new mineralized zone was intersected by Hole MT-09-006, which returned an 8.9-metre intersection grading 0.21% eU3O8, including 1.1 metres at 0.96% eU3O8. This intersection is strongly altered in fuschite with the presence of pitchblende and uranophanes, and is similar in size, grade and alteration to intersections near the MT-34 and MT-22 core zones. ------------------------------------------------------------------------- Hole Collar Az. Angle From To Vertical Length eU3O8 East North (degrees)(degrees) (m) (m) Depth (m)(i) (%) (m) ------------------------------------------------------------------------- MT-09-006 11+01E 43+92S 249 -64 601.0 609.9 555 8.9 0.21 ------------------------------------------------------------------------- Including 603.0 604.1 1.1 0.96 ------------------------------------------------------------------------- (i)Core length The true width of the mineralized sections has not yet been determined.
The equivalent uranium grades are obtained using a spectral probe.
The second mineralized zone was identified on the Eclat property, part of the Matoush project. Drilled 9.5 km south of the MT-34 zone, Hole EC-09-005 intersected two mineralized zones 20 metres apart in the Matoush fault, one intersected 1.5 metres at a grade of 0.08% eU3O8 and the other 2.6 metres at a grade of 0.12% eU3O8. Furthermore, Hole EC-09-006 drilled 200 metres north of EC-09-005 and at the same elevation, intersected 2.1 metres at a grade of 0.11% eU3O8. ------------------------------------------------------------------------- Hole Collar Az. Angle From To Vertical Length eU3O8 East North (degrees)(degrees) (m) (m) Depth (m)(i) (%) (m) ------------------------------------------------------------------------- EC-09-005 08+03E 112+79S 98 -53 443.9 445.4 363 1.5 0.08 ------------------------------------------------------------------------- 465.0 467.6 2.6 0.12 ------------------------------------------------------------------------- EC-09-006 13+57E 110+55S 268 -52 426.0 428.1 368 2.1 0.11 ------------------------------------------------------------------------- (i)Core length The true width of the mineralized sections has not yet been determined.
The equivalent uranium grades are obtained using a spectral probe.
All exploration drill hole results of the first quarter, longitudinal sections as well as photos of the mineralized intersections can be seen on the company's website at www.stratecoinc.com.
The results of holes MT-09-006 and EC-09-005 clearly indicate the mineral potential of the Matoush fault, which has been traced by drill holes over a distance of more than 12 km. This confirms that the deposition mechanisms for the uranium mineralization are not limited to the area of the AM-15 zone.
The similarities in terms of degree of alteration, local presence of pitchblende mineralization in shear zones and proximity to mafic intrusives in the Matoush fault, and the markedly similarities of the texture and nature of these intrusive to those found around the mineralized zones, are impressive.
Guy Hebert, President, stated:
"The discovery of these two new mineralized zones, and especially zone MT-06 near the underground facilities planned for the development of Matoush, clearly show that the Otish Mountains region, and the Matoush property in particular, have world-class uranium potential.
It must be remembered that Uranerz discovered the AM-15 zone (1.89 million pounds of U3O8) after drilling only 15 exploration holes in totally virgin territory, and Strateco discovered the MT-22 zone (6.68 million pounds of U3O8) and the MT-34 zone (8.24 million pounds of U3O8) in 2007 and 2008 after the 22nd and 34th holes of the year, while the MT-06 and EC-05 zones were discovered by the 6th exploration hole drilled on Matoush and the 5th drilled on Eclat since February 2009.
Few exploration properties in the world can claim the discovery potential of Matoush."
In the coming weeks, drilling activities will be concentrated in the area of the new MT-06 zone to establish its uranium potential.
Five holes have also been drilled to test for a major structure similar to the Matoush fault in the "Rabbit Ears South" area on the Pacific Bay property. Hole PB-09-02 proved to be of particular interest, intersecting a major clay-rich breccia structure several metres in width. Despite the absence of mineralization and of a mafic dyke, characteristic of the Matoush fault, the presence of this strongly brecciated structure indicates potential for the discovery of a structure similar to the Matoush fault. This area lies 10 km east of the Matoush fault.
Licence and Environmental Impact Study
In February 2009, Strateco received comments from the Canadian Nuclear Safety Commission (CNSC) regarding the licence application filed on November 4th, 2008, for the underground exploration work.
With the help of a number of consultants, including Genivar, Golder and Melis, Strateco is presently preparing detailed engineering plans for the surface facilities, underground workings, health and safety programs, radiation safety and environmental protection in order to finalize the licence application.
With regard to the environmental impact study, Strateco received guidelines from the Evaluating Committee (COMEV), the Canadian Environmental Assessment Agency and from the CNSC in March 2009 pursuant to the filing of the Project Description in July 2008.
Strateco plans to have all the detailed plans and programs and the environmental impact study completed and filed with the various authorities by the end of the third quarter.
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-KSB annual report filed with the US Securities and Exchange Commission. |