Strateco begins drilling on Pacific Bay Otish uranium claims

- August 12th, 2008

Strateco Resources Inc. begins its diamond drilling of uranium targets on Pacific Bay Otish claims, district of Quebec. Strateco can earn a 60% interest in the Company’s Otish Mountains claims by spending $3 million, paying the Company $500,000, 200,000 shares of Strateco, and other consideration over four years. At its nearby Matoush deposit, Strateco has outlined a … Continued

Strateco Resources Inc. begins its diamond drilling of uranium targets on Pacific Bay Otish claims, district of Quebec.

Strateco can earn a 60% interest in the Company’s Otish Mountains claims by spending $3 million, paying the Company $500,000, 200,000 shares of Strateco, and other consideration over four years. At its nearby Matoush deposit, Strateco has outlined a drill-indicated mineral resource of 250,000 tonnes grading 0.68 per cent U3O8 (containing 3.73 million pounds U3O8)and an inferred mineral resource estimated to total 1.3 million tonnes (grading 0.44 per cent U3O8) and containing 13.07 million pounds U3O8.

Pacific Bay CEO, David H. Brett says:

“The Strateco team is applying its tremendous Otish Uranium expertise to search for and develop high quality drill targets on our property.”  “With uranium resources growing rapidly at the nearby Matoush Deposit, the potential for another Matoush style uranium deposit on our parallel structure is very encouraging.”

For full details of this press release, click this link. To view Strateco’s company profile, click here. Follow developments in uranium mining and exploration for free. Sign on to the Uranium Investing Newsletter.

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