Strateco/Matoush: a 300% increase of mineral resources

Strateco Resources Inc. reports that the mineral resource estimate of it’s Matoush uranium project has increased by 300% and its located 300 km north of Chibougamau in the Otish Mountains, Quebec.

Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) has updated the NI 43-101 Resource estimate for the Matoush uranium project using drill hole data available as of July 25th, 2008. At a cut-off grade of 0.05% U3O8, Indicated mineral resources are estimated to total 250 thousand tonnes grading 0.68% U3O8 containing 3.73 million pounds U3O8. Inferred mineral resources are estimated to total 1.3 million tonnes grading 0.44% U3O8 containing 13.07 million pounds U3O8.

Mr. Guy Hebert, President 0f Strateco Resources says:

 “Since the beginning of exploration on our Matoush project in 2006, we said and had repeated that our goal is to develop a minimum resource of between 15 and 20 millions pounds U3O8 to justify a mining operation of 2 million pounds per year for at least 10 years. We are there now. The Matoush property is well on its way to becoming a world-class uranium field, with its very high grade, extraordinary potential and localisation in Quebec considered to be among the most favourable region in the world for mining development.”

For full details of this press release, click this link. Uranium Investing News researchers discovered Starteco’s Matoush project described on their website. Follow developments in uranium mining and exploration for free. Sign on to the Uranium Investing Newsletter.