Strateco Begins Drilling on its Mont-Laurier Property
MONTREAL, QUEBEC--(CCNMatthews - Jan. 23, 2007) - Strateco Resources Inc. ("Strateco") (TSX VENTURE:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce that drilling has begun on its wholly-owned Mont-Laurier property. The Mont-Laurier property is located approximately 45 kilometres northeast of Mont-Laurier, and is very easily accessible.
The current program began on January 20, 2007 and consists of 3,000 metres of drilling in approximately 35 holes. These are the first holes to be drilled on the property since exploration was carried out in the 1970s. This drilling program follows up on exploration work carried out by Strateco in the summer and fall of 2006, which included an 885 kilometres mag-radiometry survey over the entire property, as well as prospecting, trenching and ground scintillometry surveys.
The program targets three areas of the property, which covers a distance of 16 kilometres along its north-south axis.
The first area of interest to be investigated will be the Lac Hanson Ouest area, which is located in the southern part of the property and corresponds to a radiometry anomaly measuring more than 800 metres by 300 metres. This anomaly was stripped in the 1970s and a few holes were drilled on it. The anomalous area was located and confirmed by Strateco's scintillometry survey conducted in fall 2006. A total of 2,400 metres in 29 holes will be drilled in the Lac Hanson Ouest area over a 100 metres by 100 metres spacing.
The second area, an undrilled zone in the centre of the property, corresponds to the extension of the radiometry response that extends from the southern to the northern sector. This area contains large radioactive white pegmatite blocks discovered by prospecting. Two vertical, 150-metre reconnaissance holes will be drilled to test for new mineralization.
The third area, in the northern part of the property, lies just inside the southern extension of the Tom Dick zone, where intense exploration by SOQUEM in the early 1980s indicated a favourable context for uranium. The potential of this area was confirmed by 12 trenches excavated by Strateco in fall 2006.
Initially, three vertical, 100-metre holes spaced over 300 metres will be drilled.
On the Matoush property, located in the Otish Mountains and wholly-owned by Strateco, drilling resumed on January 11, 2007 following the Christmas break. The first holes of the year are targeting the southern extension of AM-15, and represent a portion of the definition drilling being done prior to a resource calculation. These holes are part of a 30,000 metre program for 2007. As mentioned in the press release dated December 22, 2006, various high-priority targets have already been identified, including the sediment/bedrock (unconformity) contact at a vertical depth of about 900 metres, as well as the top priority target 250 metres south of AM-15, to be drilled on the lake. Industrial pumps have been installed to produce ice thick enough to support drilling.
Strateco has obtained all the necessary permits to repair the winter road for the transportation of large quantities of equipment, including two extra drills, a year's supply of fuel and the materials required to construct a 45-person camp. Work began on January 16, 2007.
In another matter, Management announces that one of its directors, Dr. Claude Hubert, is leaving for personal reasons. Management is sorry Dr. Hubert has left and wishes to thank him for his commitment and involvement with the board of directors. Dr. Hubert will be replaced with Mr. Henri Lanctot, partner at the law firm Gowling Lafleur Henderson LLP. Acting as legal counsel for many years, Mr. Lanctot practises in business law with a particular emphasis on securities, project financing, mergers and acquisitions, joint ventures and corporate counselling in general. In addition, he is very well known in the mining sector. In 1984 he joined Lafleur Brown, the law firm that merged with Gowlings on July 1st, 2000. Called to the Quebec Bar in 1968, he has also been a member of the Canadian Bar Association since then.
Qualified Person
Jean-Pierre Lachance, geologist, is the qualified person as defined by National Instrument 43-101. He has over 30 years of experience in mining exploration.
Forward-Looking Statements
This press release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of Alberta, British Columbia and Quebec, and in the 10-KSB annual report filed with the US Securities and Exchange Commission. The Company does not undertake to publicly revise or update any such statements on the basis of new information, future events or any other event.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
MONTREAL, QUEBEC--(CCNMatthews - Jan. 23, 2007) - Strateco Resources Inc. ("Strateco") (TSX VENTURE:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF) is pleased to announce that drilling has begun on its wholly-owned Mont-Laurier property. The Mont-Laurier property is located approximately 45 kilometres northeast of Mont-Laurier, and is very easily accessible.
The current program began on January 20, 2007 and consists of 3,000 metres of drilling in approximately 35 holes. These are the first holes to be drilled on the property since exploration was carried out in the 1970s. This drilling program follows up on exploration work carried out by Strateco in the summer and fall of 2006, which included an 885 kilometres mag-radiometry survey over the entire property, as well as prospecting, trenching and ground scintillometry surveys.
The program targets three areas of the property, which covers a distance of 16 kilometres along its north-south axis.
The first area of interest to be investigated will be the Lac Hanson Ouest area, which is located in the southern part of the property and corresponds to a radiometry anomaly measuring more than 800 metres by 300 metres. This anomaly was stripped in the 1970s and a few holes were drilled on it. The anomalous area was located and confirmed by Strateco's scintillometry survey conducted in fall 2006. A total of 2,400 metres in 29 holes will be drilled in the Lac Hanson Ouest area over a 100 metres by 100 metres spacing.
The second area, an undrilled zone in the centre of the property, corresponds to the extension of the radiometry response that extends from the southern to the northern sector. This area contains large radioactive white pegmatite blocks discovered by prospecting. Two vertical, 150-metre reconnaissance holes will be drilled to test for new mineralization.
The third area, in the northern part of the property, lies just inside the southern extension of the Tom Dick zone, where intense exploration by SOQUEM in the early 1980s indicated a favourable context for uranium. The potential of this area was confirmed by 12 trenches excavated by Strateco in fall 2006.
Initially, three vertical, 100-metre holes spaced over 300 metres will be drilled.
On the Matoush property, located in the Otish Mountains and wholly-owned by Strateco, drilling resumed on January 11, 2007 following the Christmas break. The first holes of the year are targeting the southern extension of AM-15, and represent a portion of the definition drilling being done prior to a resource calculation. These holes are part of a 30,000 metre program for 2007. As mentioned in the press release dated December 22, 2006, various high-priority targets have already been identified, including the sediment/bedrock (unconformity) contact at a vertical depth of about 900 metres, as well as the top priority target 250 metres south of AM-15, to be drilled on the lake. Industrial pumps have been installed to produce ice thick enough to support drilling.
Strateco has obtained all the necessary permits to repair the winter road for the transportation of large quantities of equipment, including two extra drills, a year's supply of fuel and the materials required to construct a 45-person camp. Work began on January 16, 2007.
In another matter, Management announces that one of its directors, Dr. Claude Hubert, is leaving for personal reasons. Management is sorry Dr. Hubert has left and wishes to thank him for his commitment and involvement with the board of directors. Dr. Hubert will be replaced with Mr. Henri Lanctot, partner at the law firm Gowling Lafleur Henderson LLP. Acting as legal counsel for many years, Mr. Lanctot practises in business law with a particular emphasis on securities, project financing, mergers and acquisitions, joint ventures and corporate counselling in general. In addition, he is very well known in the mining sector. In 1984 he joined Lafleur Brown, the law firm that merged with Gowlings on July 1st, 2000. Called to the Quebec Bar in 1968, he has also been a member of the Canadian Bar Association since then.
Qualified Person
Jean-Pierre Lachance, geologist, is the qualified person as defined by National Instrument 43-101. He has over 30 years of experience in mining exploration.
Forward-Looking Statements
This press release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of Alberta, British Columbia and Quebec, and in the 10-KSB annual report filed with the US Securities and Exchange Commission. The Company does not undertake to publicly revise or update any such statements on the basis of new information, future events or any other event.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
