QUEBEC – The most recent 43-101 report received by Strateco Resources of Boucherville, QC, outlines how the inferred resource at Matoush Matoush project, located in the Otish Mountains, has increased by 50% since September 2009. The inferred resource now stands at 2.04 million tonnes grading 0.43% U3O8 containing 19.22 million lb of uranium oxide.
Indicated resources are estimated at 453,000 tonnes at a grade of 0.78% U3O8 for 7.78 million lb of uranium oxide, which is similar to the 2009 estimate. Strateco did not carry out any definition drilling work which would have increased the indicated resource from November 2009 to October 2011. Strateco is planning a 15,000-metre drilling program for 2012, including some 11,000 metres of definition drilling aimed at outlining the indicated resource within the boundaries of the new inferred resource zones.
If everything goes as planned, an underground mine at the Matoush project could begin production by the end of 2016. Please visit www.StratecoInc.com.