GREY:DTEMF - Post by User
Post by
KEMA1on Sep 17, 2009 11:39am
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Post# 16314718
Good for the OTISH...
Good for the OTISH...Sep 17, 2009 08:54 ET
Strateco Resources Inc.: Significant Increase in Indicated Resources and Grade at Matoush
MONTREAL, QUEBEC--(Marketwire - Sept. 17, 2009) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) is pleased to announce that the indicated mineral resources at its Matoush property has doubled in the past 12 months to reach 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8.
Wholly-owned by Strateco, the Matoush property lies 300 km north of Chibougamau in Quebec's Otish Mountains.
Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) has updated the NI 43-101-compliant resource estimate for the Matoush project based on drill results available as of September 1st, 2009 and using similar methods as applied in the previous estimate (Scott Wilson RPA, Sept. 2008). At a cut-off grade of 0.10% U3O8, the indicated mineral resources are now estimated at 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8, and the inferred mineral resources are estimated at 1.16 million tonnes grading 0.50% U3O8 containing 12.78 million pounds U3O8. These resources lie in the AM-15, MT-34 and MT-22 zones, and extend over a strike-length of 1.4 km. The Matoush structure has been traced 11 km to the south and 2.5 km to the north.
The increase in the indicated resources from 3.73 million pounds grading 0.67% U3O8 (Scott Wilson RPA, Sept. 2008) to 7.46 million pounds at 0.78% U3O8 is significant. The indicated resources for the MT-34 zone, which lies in the upper part of the ACF-4 stratigraphic unit, is now estimated at 174,000 tonnes grading 0.89% U3O8 containing 3.42 million pounds U3O8. It should be noted that no indicated resources have yet been estimated for the MT-22 zone due to the current drill hole spacing, which is about 50 metres by 50 metres. This zone will be drilled at a tighter spacing during the underground exploration program.
Mineral reserves have not been estimated for the Matoush project.