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Strathmore Plus Uranium Corporation (TSXV: SUU) (OTC Pink: SUUFF) ("Strathmore" or "the Company") is pleased to announce it has received a drilling and exploration permit from the State of Wyoming for its Agate project in the Shirley Basin uranium district. The permit is for a planned 100-hole drill program this summer totaling 15,000 feet. The drilling is planned to confirm historical results and extend mineralization into areas sparsely explored in the past. In conjunction with the drilling, Strathmore will conduct near-surface and downhole geophysical research with the University of Wyoming's Near-Surface Geophysical Center to target new drilling locations.
About the Agate Property
The Agate property 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, 55 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 15 to approximately 150 feet deep, much of which is below the water table and likely amenable to in-situ recovery. The average thickness varies from several feet to tens of feet, with grades ranging from 0.02% to 0.18% eU3O8 as noted on the historical gamma logs.
The Agate project was previously explored by Kerr-McGee Corporation in the 1970s, where they drilled 670 holes. Kerr-McGee was the largest producer of uranium in the United States at the time. They also produced deposits from the Shirley Basin, which were 7 miles east of the Strathmore property. Other uranium companies in the basin include Cameco, enCore Energy, UR Energy, and UEC, whose claims border the Agate property. Available Kerr-McGee historical drilling results from the Wyoming Geological Survey include drill hole location maps and 330 geophysical logs which are being digitized and reinterpreted for entry into a modern, verifiable database.
About Strathmore Plus Uranium Corp.
Strathmore has 3 uranium projects in Wyoming, 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. Strathmore received an exploration permit for the Beaver Rim project in October and is now applying for an exploration and drilling permit for Night Owl.
Cautionary Statement: 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161094
