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Tue, May 29, 2012 Strateco's 2012 Drilling Program Yields More Excellent Results
May 29, 2012 08:31 ET
Strateco's 2012 Drilling Program Yields More Excellent Results
BOUCHERVILLE, QUEBEC--(Marketwire - May 29, 2012) - Strateco Resources Inc. ("Strateco") (TSX:RSC)(FRANKFURT:RF9) is pleased to report the results of a second set of holes from its 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.
Six more holes have been drilled on the southern extension of the new MT-34A lens since the last press release April 23, 2012, which reported on the first set of results from the 2012 program.
Two of these holes intersected very high grades over substantial widths. Hole MT-12-010 intersected 0.86% eU3O8over 12.4 metres, including 3.12% eU3O8over 3.1 metres. Hole MT-12-009 intersected 0.63% eU3O8over 9.8 metres, including 1.97% eU3O8over 2.4 metres. Hole MT-12-010 is about 45 metres from Hole MT-12-004, which intersected 0.50% eU3O8 over 25.5 metres, including 2.76% eU3O8 over 2.8 metres, as indicated in the press release of April 23, 2012.
As a measure, 1% U3O8 represents approximately 22 pounds per tonne. The uranium spot price is currently US $52 per pound.
See "Matoush Project-Longitudinal" section at [ www.stratecoinc.com ].
Table 1: Drill Results
| Lens | Hole | Collar | AZ | Dip | From | To | Length | eU3O8** | |
| (º) | (º) | (m) | (m) | (m) | (%) | ||||
| MT-34 Southern Extension | MT-12-005 | 38+09 S | 11+34 E | 279 | -58.1 | 511.6 | 513.3 | 1.7 | 0.05 |
| MT-12-006 | 39+00 S | 11+51 E | 273 | -50.5 | 470.2 | 476.6 | 6.4 | 0.07 | |
| Including | 470.2 | 471.7 | 1.5 | 0.11 | |||||
| Including | 475.2 | 476.5 | 1.3 | 0.17 | |||||
| MT-12-007 | 39+00 S | 11+53 E | 265 | -53.5 | 455.9 | 462.5 | 6.6 | 0.04 | |
| Including | 457.2 | 458.3 | 1.1 | 0.12 | |||||
| MT-12-008 | 38+08 S | 11+39 E | 271 | -56.3 | 491.3 | 493.5 | 2.2 | 0.59 | |
| MT-12-009 | 38+09 S | 11+37 E | 268 | -52.3 | 447.2 | 457 | 9.8 | 0.63 | |
| Including | 452.6 | 455 | 2.4 | 1.97 | |||||
| MT-12-010 | 36+00 S | 12+47 E | 259 | -49.6 | 586.9 | 599.3 | 12.4 | 0.86 | |
| Including | 588.5 | 591.6 | 3.1 | 3.12 | |||||
| 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. |
In all, 7,078 of the 15,000 metres planned for the 2012 program have been drilled to date. Commenting on the 2012 drilling program, Strateco's president and chief executive officer, Guy Hébert, said that: "We are very pleased with the results obtained to date for the drilling program. The planning of the holes shows that our geological team has a good grasp of the Matoush structure. We are confident that this will be a very productive program."
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.
