Kelowna, British Columbia--(Newsfile Corp. - June 17, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce the interim drilling results from Phase 1 of the 2024 exploration program at Agate, where the company hit mineralization in 57 of 60 holes drilled.
Drill hole AG-151-24 intercepted 11 feet of 0.079% eU3O8 from 95-106 feet deep, extending the mineralized front discovered in 2023 westward by 600 feet. This northern front now exceeds 1,800 feet in length. Strathmore has also discovered a new area of shallow mineralization, one mile south of the northern trend, in the overlying Middle "A" sand, including holes AG-143-24 (14 feet of 0.046% eU3O8 from 30.5-44.5 feet) and AG-147-24 (15.5 feet of 0.051% eU3O8 from 29-44.5 feet).
Phase 1 of the 2024 drilling explored the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity and permeability, and high groundwater transmissivity. In addition to continued exploration of the Lower "A" sand, the recent drilling has discovered mineralization within the Middle "A" sand (not mineralized in 2023 drill holes), which is thicker than the underlying Lower "A" sand, and historically produced most of the uranium in the Shirley Basin district. Additional drilling is planned during Phase 1 to extend the northern front laterally and to build upon the successful discovery of mineralization in the Middle "A" sand.
John DeJoia commented: "The 2024 interim drilling results so far are very encouraging, with mineralization in nearly every drillhole. The results from the exploration of the southern area are very promising-the thickness is significant and indicates the potential for roll front development and delineation with additional drilling in following phases. The drilling in the north has extended the mineralized trend identified in 2023. I continue to be optimistic about Strathmore's Agate property in Shirley Basin."
The intercepts shown are at minimum thickness and grade cutoffs of 2 feet and 0.02% eU3O8, and reported at a 0.2 GT (grade times thickness). The geophysical results are based on equivalent uranium (eU3O8) of the gamma-ray probes calibrated at the Department of Energy's Test Facility in Casper, Wyoming. A geophysical tool with gamma-ray, spontaneous potential, resistivity, and drift detectors was utilized. The reader is cautioned that the reported uranium grades may not reflect actual concentrations due to the potential for disequilibrium between uranium and its gamma emitting daughter products.
The drilling is being completed by Single Water Services utilizing a mud-rotary rig and the geophysical logging by Hawkins CBM Logging, the same contractors as utilized in the 2023 drill season. Mr. Terrence Osier, PG, VP Exploration for Strathmore, is the supervising Geologist overseeing the drilling activities. Additional drill sites are targeted for the phase 1 drilling and the results of the exploration, and that from 2023, will continually be analyzed and assist in the layout of additional drill sites proposed for drilling later in the 2024 season.
New Claims Staked
In addition to exploration, the Company has expanded the project area by staking 15 new mining claims contiguous to the current claim group. The new claims cover ground where the mineralization is anticipated to be on trend with recent and historical drilling, and at greater depths and saturated with groundwater, which are ideal for in-situ recovery operations. Strathmore plans to amend the drill permit following the Phase 1 drilling to include the new mining claims and anticipates exploration of the acquired ground in Phase 2 drilling later this year.
University of Wyoming Study Update
The University of Wyoming Dept. of Geology and Geophysics in partnership with the UW Near-Surface Geophysics Instrument Center (UWNSG) is continuing their geophysical characterization of the uranium roll front deposit at the Agate project during the 2024 season, having been onsite this week. Dr. Brad Carr is leading the team of 2-3 graduate students and 12 undergraduate students collecting numerous 2D geophysical profiles over the Agate site. The geophysical methods UWNSG will be utilizing this summer include DC Resistivity, Induced Polarization, Self-Potential, Electromagnetic Induction, Seismic Refraction, and Seismic Reflection. Initial profiling in 2023 highlighted some geophysical anomalies associated with the uranium roll front that they plan to study further and generate 3D data images. The goal of the study is to determine if surface geophysics may assist in the discovery of new uranium roll fronts on the Agate project, in addition to being applied upon success to other uranium exploration projects across Wyoming.
About the Agate Property
The Agate property currently consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the Agate property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization.
About Strathmore Plus Uranium Corp.
Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.
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Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.
Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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