Strateco Resources Inc.

Published : September 17th, 2009

Significant Increase in Indicated Resources and Grade at Matou

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  

OTC Bulletin Board: SRSIF
Other Recent News

September 17, 2009
Strateco Resources Inc.: Significant Increase in Indicated Resources and Grade at Matoush
MONTREAL, QUEBEC--(Marketwire - Sept. 17, 2009) - Strateco Resources Inc. ("Strateco")(TSX:RSC)(OTCBB:SRSIF)(FRANKFURT:RF9) is pleased to announce that the indicated mineral resources at its Matoush property has doubled in the past 12 months to reach 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8.

Wholly-owned by Strateco, the Matoush property lies 300 km north of Chibougamau in Quebec's Otish Mountains.

Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) has updated the NI 43-101-compliant resource estimate for the Matoush project based on drill results available as of September 1st, 2009 and using similar methods as applied in the previous estimate (Scott Wilson RPA, Sept. 2008). At a cut-off grade of 0.10% U3O8, the indicated mineral resources are now estimated at 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8, and the inferred mineral resources are estimated at 1.16 million tonnes grading 0.50% U3O8 containing 12.78 million pounds U3O8. These resources lie in the AM-15, MT-34 and MT-22 zones, and extend over a strike-length of 1.4 km. The Matoush structure has been traced 11 km to the south and 2.5 km to the north.

The increase in the indicated resources from 3.73 million pounds grading 0.67% U3O8 (Scott Wilson RPA, Sept. 2008) to 7.46 million pounds at 0.78% U3O8 is significant. The indicated resources for the MT-34 zone, which lies in the upper part of the ACF-4 stratigraphic unit, is now estimated at 174,000 tonnes grading 0.89% U3O8 containing 3.42 million pounds U3O8. It should be noted that no indicated resources have yet been estimated for the MT-22 zone due to the current drill hole spacing, which is about 50 metres by 50 metres. This zone will be drilled at a tighter spacing during the underground exploration program.

Mineral reserves have not been estimated for the Matoush project.

Table 1 - Mineral Resource Estimate for Matoush - September 1, 2009

                                            Tonnes       Grade        U3O8
                                          (x 1,000)    (% U3O8)   (x 1,000)
       AM-15                                   262        0.70       4,039
       MT-34                                   174        0.89       3,420
Total Indicated                                436        0.78       7,458

       AM-15                                    33        0.34         249
       MT-22                                   822        0.53       9,526
       MT-34                                   302        0.45       3,003
Total Inferred                               1,157        0.50      12,777


  1. CIM Definition Standards have been followed for classification of
     Mineral Resources.
  2. The cut-off grade of 0.1% U3O8 was estimated using a U3O8 price of
     US$75/lb and assumed operating costs.
  3. High U3O8 grades were cut to 9%.
  4. The Mineral Resource estimate uses drill hole data available as of
     September 1, 2009.
  5. Mineral Resources are not Mineral Reserves and do not have
     demonstrated economic viability.
  6. Totals may not sum correctly due to rounding.
The new estimate confirms that Matoush is a robust deposit, relatively insensitive to cut-off grades between 0.05% and 0.2% U3O8.

Table 2 - Mineral Resource Estimate for Matoush - Different Cut-off Grades

                         Cut-off Grade      Tonnes        Grade       U3O8
                              (% U3O8)   (x 1,000)      (% U3O8)  (x 1,000)
       AM-15                       0.3         190        0.89       3,709
                                   0.2         230        0.77       3,925
                                   0.1         262        0.70       4,039
                                  0.05         264        0.69       4,043
       MT-34                       0.3         139        1.05       3,238
                                   0.2         168        0.92       3,393
                                   0.1         174        0.89       3,420
                                  0.05         174        0.89       3,420
Total Indicated                    0.3         329        0.96       6,947
                                   0.2         398        0.83       7,318
                                   0.1         436        0.78       7,458
                                  0.05         438        0.77       7,463
       AM-15                       0.3          20        0.48         209
                                   0.2          22        0.46         221
                                   0.1          33        0.34         249
                                  0.05          65        0.24         339
       MT-22                       0.3         509        0.72       8,082
                                   0.2         686        0.60       9,067
                                   0.1         822        0.53       9,526
                                  0.05         964        0.47       9,918
       MT-34                       0.3         136        0.80       2,395
                                   0.2         167        0.70       2,570
                                   0.1         302        0.45       3,003
                                  0.05         429        0.34       3,211
Total Inferred                     0.3         665        0.73      10,686
                                   0.2         875        0.61      11,858
                                   0.1       1,157        0.50      12,777
                                  0.05       1,458        0.42      13,468
Management is also pleased to announce that it has increased its 2009 surface exploration program from 30,000 metres to 35,000 metres of drilling.

The 2009 drilling program is ongoing, with two drills working on the property. One of these is assigned to systematic drilling on a 200-metre grid to locate new mineralized zones in the southern extension of the MT-34 zone, in the upper part of the ACF-4 stratigraphic unit. The two most recent holes confirmed mineralization to the south. Hole MT-09-035, drilled 1.0 km south of the edge of the current mineral resources, intersected the mineralized zone over 2.9 metres grading 0.12% eU3O8, lying characteristically at the contact of the Matoush fault. Hole MT-09-036 was drilled 200 metres further south from MT-09-035, and intersected a 4.7 -metre section of mineralization grading 0.26% eU3O8 (see longitudinal sections at

These results confirm the enormous potential for increasing the resource on the Matoush and Eclat properties over a 11.1 km distance along the Matoush fault, to the south of the mineralized envelope hosting the resources. As previously reported, two holes drilled 200 metres apart, last winter in the upper part of the ACF-4 (EC-09-05 and EC-09-06) more than 6 km south of Hole MT-09-036 returned very good results (0.12% eU3O8 over 2.6 metres and 0.11% eU3O8 over 2.1 metres).

The second drill is presently carrying out a 2,000-metre program on the Pacific Bay property, adjacent to Matoush, where Strateco holds an option to acquire a 60% interest (see Pacific Bay's news release dated September 8, 2009, at

Guy Hebert, President and CEO of Strateco, stated: "The Otish Mountains area of Quebec is on its way to becoming a major uranium mining camp, and our Matoush project is the heart of this. When we acquired the property in 2006, no mineral resource had been identified, and we had set ourselves the goal of delineating 15 to 20 million pounds of U3O8 to justify commercial production of 2 million pounds U3O8 per year for 8 to 10 years. We reached that resource goal very quickly. Furthermore, the mineralization on the Matoush property has one of the highest average grades in the world outside of the Athabasca Basin, if not the highest, without the problems associated with that area.

Given the currently-available information and the drilling program presently underway, which will likely exceed 120,000 metres over the next two years focused on the Matoush structure, our objective is now to determine the possibility of reaching 60 million pounds of U3O8.

The environmental studies required to build the mill and tailing ponds are scheduled to begin in 2010. The mill production capacity will be decided based on the resources outlined in 2011. The objective is now to sustain a minimum potential production of 4 million pounds of U3O8 per year.

Due to the growth in mineral resources and grade and the reduction of various estimated operating costs, the scoping study done in the fall of 2008 will be updated in the coming months. We expect the estimated production costs of US$27.33 per pound of U3O8 to lower."

Strateco is eligible for exploration tax credits equal to about 50% of surface exploration expenses up until the Matoush property enters the commercial production phase.

This press release has been read and approved by Jean-Pierre Lachance, geol., Executive Vice President of Strateco Resources Inc. and David A. Ross, P.Geo, Senior Consulting Geologist at Scott Wilson Roscoe Postle Associates Inc. who are the qualified persons as defined under National Instrument 43-101.

This news 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, Ontario and Quebec and in the 10-K annual report filed with the US Securities and Exchange Commission.

CAUTIONARY NOTE TO U.S. INVESTORS -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at


Strateco Resources Inc.
Guy Hebert
President and Chief Executive Officer
450-641-0775 or 1-866-774-7722
Fax: 450-641-1601


Strateco Resources Inc.
Jean-Pierre Lachance
Executive Vice President
450-641-0775 or 1-866-774-7722
Fax: 450-641-1601


Strateco Resources Inc.
Audrey Vezina Angus
Investor Relations
450-641-0775 or 1-866-774-7722
Fax: 450-641-1601

INDUSTRY: Manufacturing and Production - Mining and Metals

. <

Strateco Resources Inc.

ISIN : CA86269M1068
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Strateco Res. is an exploration copper and lead company based in Canada.

Strateco Res. holds various exploration projects in Canada.

Its main exploration properties are QUENONISCA, MISTASSINI, MONT-LAURIER, ECLAT, PACIFIC BAY, MATOUSH and APPLE in Canada.

Strateco Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 10.5 millions as of today (US$ 8.6 millions, € 7.6 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.00, and its lowest recent point on October 31, 2014 at CA$ 0.02.

Strateco Res. has 234 170 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Annual reports of Strateco Resources Inc.
2008 Annual report
2007 Annual report
2006 Annual report
Financings of Strateco Resources Inc.
8/12/2013Strateco Closes a CDN $ 820,000 Financing
8/12/2013Closes a CDN $ 820,000 Financing
2/29/2012Closes Two Private Placements
2/16/2012Strateco Announces Private Placement Financing
2/16/2012Strateco Announces Private Placement Financing
2/16/2012Announces Private Placement Financing
6/23/2011Strateco Closes a CA$3.5 Million Financing
12/23/2010Strateco Closes a $13.0 Million Private Placement
Nominations of Strateco Resources Inc.
7/18/2011Strateco Appoints A New Chief Financial Officer and Treasure...
5/12/2010Appoints Vice President, Finance
3/23/2010Appointment of a New Director
Project news of Strateco Resources Inc.
1/29/2014Strateco Update: Exploration Work and Legal Proceedings
12/17/2013Strateco Enters Into an Agreement With Denison for the Jaspe...
9/23/2013(Matoush)The MDDEFP Minister Has All the Elements he Needs to Authori...
12/20/2012Strateco Buys Back the 2% NSR Royalty on the Matoush Propert...
12/7/2012Strateco: Significant Increase of 58% in the Indicated Resou...
11/1/2012(Matoush)Inc=2E/Matoush Project: Best Drill Result for 2012 2=2E62% U...
10/17/2012(Matoush)Inc=2E: The CNSC Grants the Licence for the Matoush Explorat...
6/9/2012(Matoush)Inc=2E/Public Hearings: The Licencing Process for the Matous...
5/29/2012Strateco's 2012 Drilling Program Yields More Excellent Resul...
4/23/2012Strateco's New 2012 Drilling Program Generating Excellent Re...
4/10/2012(Matoush)CNSC Staff Recommend a Five-Year Licence for the Matoush Ura...
2/17/2012(Matoush)Inc=2E: The Updated Technical Report for the Matoush Uranium...
2/3/2012(Matoush)Inc=2E: Matoush Uranium Exploration Project Gets the Green L...
11/29/2011Strateco Exercises Its Option and Acquires 60% of the Pacifi...
11/29/2011Strateco Exercises Its Option and Acquires 60% of the Pacifi...
8/2/2011(Matoush)Matoush Uranium Project: The Federal Review Panel South Rele...
7/14/2011(Matoush)-Matoush Project Underground Exploration Program: New Develo...
6/2/2011Strateco and Majescor Execute Joint VentureAgreement on the ...
6/2/2011(Mistassini)and Majescor Execute Joint Venture Agreement on the Mistassi...
3/4/2011Strateco Confirms the Presence of High-Grade Mineralization ...
3/4/2011(Matoush)Confirms the Presence of High-Grade Mineralization Between t...
11/26/2010(Matoush)Recieves Strong Support at Public Hearings on the Matoush Ur...
1/13/2011(Matoush)Resumption of Drilling: Matoush/Mistassini/Pacific Bay-Matou...
10/27/2010(Matoush)Public Hearings to Be Held on the Environmental Impact Study...
2/24/2010(Matoush)Updated Scoping Study on Matoush Indicates Stronger Economic...
1/29/2010(Matoush)Matoush: Start of a Major Drilling Program
12/1/2009(Matoush)Ambitious Drilling Program on Matoush
11/12/2009(Matoush)Another Important Step Forward for Strateco's Matoush Uraniu...
9/17/2009(Matoush)Significant Increase in Indicated Resources and Grade at Mat...
7/27/2009(Matoush) Intersects 0=2E99% eU3O8 Over 30=2E6 Metres Including 5=2E9...
7/9/2009(Mistassini)Intersect 0,13% eU308 over 11,0 Metres at Mistassini
7/8/2009(Matoush)Intersects 0.61% eU3O8 Over 25.7 Metres at Matoush
6/4/2009(Mistassini)Strateco and Majescor Announce a Drilling Program on Mistass...
4/22/2009(Matoush)Strateco/Matoush: Discovery of Two New Mineralized Zones
12/19/2008(Matoush)Scoping Study Now Available
11/11/2008(Matoush)Scoping Study on Matoush Indicates Very Strong Economics
11/5/2008(Matoush)Licence Application for Underground Exploration Program at t...
9/23/2008(Matoush)Matoush: NI 43-101 Available on SEDAR
8/7/2008(Matoush)A 300% Increase of the Mineral Resources in 10 Months
Corporate news of Strateco Resources Inc.
11/3/2015Update from Strateco: CCAA Court Protection and Financing fo...
7/13/2015Update on Strateco: $190 Million Lawsuit Against the Quebec ...
6/9/2015Strateco's Trading Platform Change is Postponed
6/9/2015Strateco Obtains an Initial Order Under the Companies' Credi...
6/9/2015IIROC Trading Halt - RSC
5/21/2015Report du changement de plateforme boursière de Strateco
5/21/2015Trading Platform Change is Postponed
5/21/2015Strateco's Trading Platform Change is Postponed
3/19/2015Strateco Announces a Change to its Board of Directors
3/19/2015to Change Trading Platform; Continues With its Cost Reductio...
3/19/2015Strateco to Change Trading Platform; Continues With its Cost...
3/2/2015Strateco Announces a Change to its Board of Directors
1/8/2015SeqUr Becomes a Public Company Following the Distribution of...
12/19/2014Matoush Uranium Project: Strateco Claims $190 Million from t...
12/19/2014Strateco to Distribute its Shares of SeqUr: SeqUr and Deniso...
12/11/2014IIROC Trade Resumption - RSC
12/11/2014Matoush Uranium Project: Strateco Claims $190 Million From t...
12/11/2014IIROC Trading Halt - RSC
11/3/2014Sentient and Toro Energy Sign an Agreement Regarding Stratec...
6/16/2014Strateco Meets Toronto Stock Exchange (TSX) Requirements
6/16/2014TSX Delisting Review - Strateco Resources Inc. (Symbol:RSC)
6/12/2014Strateco Closes a $1.4 Million Financing
6/12/2014Strateco Shuts Down its Matoush Camp to Minimize Operating C...
5/28/2014Strateco Holds its 2014 Shareholders' Annual Meeting
5/20/2014Strateco Calls on the BAPE to Recuse Louis-Gilles Francoeur
12/23/2013Receives CDN $3 Million
10/29/2013Strateco Lifts Stay of Proceedings Against Minister Yves Fra...
10/29/2013Lifts Stay of Proceedings Against Minister Yves Francois Bla...
9/23/2013The MDDEFP Minister Has All the Elements he Needs to Authori...
8/1/2013The Court Rules on the Safeguard Order Sought by Strateco
6/25/2013Inc=2E: The Minister Will No Longer Wait for the Conclusions...
5/15/2013Strateco: $87 Million Impairment Charge from the MDDEFP Mini...
5/15/2013$87 Million Impairment Charge from the MDDEFP Minister's Dec...
4/22/2013Strateco Serves Government With Formal Notice
4/22/2013Serves Government With Formal Notice
3/28/2013Denounces the Government of Quebec's Decision
3/21/2013Restricts Its Petition to the Motion for Mandamus
3/6/2013Reacts Positively to Survey Results
2/19/2013Court Agrees to Strateco's Request for Special Case Manageme...
2/19/2013Court Agrees to Strateco's Request for Special Case Manageme...
2/8/2013Requests Special Case Management of its Motion for Mandamus ...
1/17/2013Strateco Files a Motion for Mandamus and Declaratory Judgeme...
1/17/2013Files a Motion for Mandamus and Declaratory Judgement With t...
12/20/2012Strateco Closes $3,000,000 Bridge Loan
12/20/2012Closes $3,000,000 Bridge Loan
12/7/2012(Matoush)Significant Increase of 58% in the Indicated Resource at the...
8/14/2012Strateco's President to Buy Shares in the Open Market
8/10/2012Acknowledges Cree Grand Council's Resolution and Intends to ...
6/12/2012Matoush Uranium Project: Strateco Drills 3.62% eU3O8 Over 8....
5/29/20122012 Drilling Program Yields More Excellent Results
4/23/2012New 2012 Drilling Program Generating Excellent Results
2/29/2012Strateco Closes Two Private Placements
1/4/2012(Matoush)Inc=2E: Resource at the Matoush Uranium Project Rises Signif...
1/3/2012Strateco Announces a CA $3,000,000 Bridge Loan with SIDEX
1/3/2012Strateco Announces a CA $3,000,000 Bridge Loan with SIDEX
1/3/2012Announces a CA $3,000,000 Bridge Loan with SIDEX
11/29/2011(Pacific Bay)Exercises Its Option and Acquires 60% of the Pacific Bay-Mat...
8/2/2011Strateco's Matoush Uranium Project: The Canadian Nuclear Saf...
8/2/2011Strateco's Matoush Uranium Project: The Canadian Nuclear Saf...
8/2/2011Strateco's Matoush Uranium Project: The Federal Review Panel...
6/23/2011Closes a CA$3.5 Million Financing
3/15/2011Files Form 15F to Terminate Its Reporting Obligations in the...
12/23/2010The Sentient Group Exercises its Participation =?ISO-8859-1?...
11/29/2010Strateco Closes CA $4,000,000 Bridge Loan With SIDEX
11/29/2010Strateco Closes CA $4,000,000 Bridge Loan With SIDEX
11/9/2010Strateco Confirms a New Uranium Lens at Matoush
11/9/2010Confirms a New Uranium Lens at Matoush
10/27/2010Inc=2E: Public Hearings to Be Held on the Environmental Impa...
9/15/2010Strateco Announces a CA $2,500,000 Bridge Loan With SIDEX
5/28/2010Has Held Its 2010 Annual Meeting
12/8/2009Closes C$2.5 Million Financing
6/12/2009Nomination of a New Chief Financial Officer
6/1/2009Drilling Resumes on Matoush
11/11/2008Retains Financial Advisor
10/1/2008 Closes C$8.0 Million Financing
6/5/2007Graduation on TSX
2/20/2007Matoush continues to deliver
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.045
06/12 15:44 -
Prev close Open
0.045 0.040
Low High
0.040 0.045
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.045 12.50%
Volume 1 month var.
292,000 12.50%
24hGold TrendPower© : -35
Explores for Diamonds - Silver - Uranium
Interactive chart Add to compare
Print Compare Export
Last updated on : 12/9/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-7.41%Trend Power :
announces expected non-cash impairment
AU$ 5.03+2.86%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.45+2.37%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.13+1.29%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.14+3.70%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.56-1.75%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.01+2.03%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 3.30-4.35%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.23-2.13%Trend Power :
Closes Bridge Loan Financing
CA$ 2.27+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 5.04-2.70%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.89+0.23%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.26-3.70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.78+8.33%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.42-1.19%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 31.96+0.79%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.14+0.00%Trend Power :