MONTREAL, QUEBEC--(Marketwire - Dec. 1, 2009) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to provide an update on its 2009 drilling program and its 2010 and 2011 drilling objectives for the Matoush project, located 275 km north of Chibougamau in Quebec's Otish Mountains.
Context
The Matoush uranium structure has been traced by geophysics for a distance of 13.8 km, from Section 148+00S (the border with Cameco's property) to Section 10+00S, towards north.
The Matoush structure crosses three properties:
----------------------------------------- Property Section Interest ----------------------------------------- Eclat 148+00S to 64+50S 100% ----------------------------------------- Matoush 64+50S to 18+50S 100% ----------------------------------------- Eclat Nord 18+50S to 0+00S 100% -----------------------------------------
Mineral resources (see press release dated September 17, 2009) have only been defined on a small portion of the Matoush project, between sections 37+35S and 24+00S, representing a distance of approximately 1.35 km. Since 2006, Strateco has devoted a large proportion of its exploration efforts and financial resources to this section of the Matoush project.
Since September 2009 and for the next two years, 2010 and 2011, Strateco plans to concentrate the bulk of its exploration efforts to the Matoush structure, and more precisely to the ACF-4, which starts at a vertical depth of about 400 metres and extends to a vertical depth of about 850 metres. It was in the ACF-4 that Strateco discovered the MT-22 and MT-34 zones in 2008. The ACF-3, which hosts the AM-15 zone and lies between a vertical depth of 200 and 250 metres, is not expected to be tested by the upcoming drilling program. Even though, the ACF-3 still holds potential to find lenses similar to the AM-15, which holds indicated resources of 4.03 million pounds U3O8.
Exploration Drilling Program
The 125,000-metre drilling program, including the 5,000 metres drilled since September 2009, is aimed at establishing whether the Matoush structure has the potential to contain over 60 million pounds of U3O8. The program budget is in the order of $16 million.
The drill results obtained to date clearly show that the entire length of the Matoush structure (13.8 km) could be mineralized.
Holes are initially drilled on a systematic 200-metre spacing. 17 holes have been completed since systematic exploration began, and about 40 more holes are required to cover the entire structure at a vertical depth of about 420 metres. All the holes drilled during the 2009 drilling campaign on this spacing have intersected the typical alteration envelope seen in the AM-15, MT-22 and MT-34 mineralized zones. Uranium mineralization with various grades and lengths was intersected by the 17 drill holes with the exception of three which gave anomalous readings.
