QUEBEC - Recent drilling success at the Matoush property 300 km north of Chibougamau has Montreal's STRATECO RESOURCES planning to spend $12 million on exploration there in 2007. Most of the money is earmarked for drilling, to define the resources on which a feasibility study can be based. Three rigs will be on site by the end of February.
Last week, Strateco reported that it had intersected 2.1% U3O8 over 12.4 m, including a 3.3-m section grading 4.7% and a 0.3-m section grading 16.6%. The hole from which these results were logged lies in the northern extension of the AM-15 zone at the upper contact of the ACF facies.
A location map and longitudinal section of the Matoush project is available at www.StratecoInc.com.