Matoush Uranium Project: Strateco Drills 3.62% eU3O8 Over 8.5 Metres
BOUCHERVILLE, QUEBEC -- (Marketwire) -- 06/12/12 -- Strateco Resources Inc. ("Strateco") (TSX: RSC)(FRANKFURT: RF9) is pleased to report that definition drill hole MT-12-012 has intersected 3.62% eU3O8 over 8.5 metres in the MT-22 lens of the Matoush uranium deposit, wholly-owned by Strateco. This hole is part of Strateco's 2012 planned program of 15,000 metres of drilling, which among other things aims to increase the deposit resource, in particular the Indicated resource, by definition drilling.
Definition drill hole MT-12-012 intersected the Matoush uranium-bearing structure between hole MT-08-003, which returned 1.9% U3O8 over 7.5 metres, including 5.6 % U3O8 over 2.4 metres, and hole MT-08-028, which returned 0.51% U3O8 over 40.4 metres, including 2.26 % U3O8 over 7.4 metres. Hole MT-12-012 lies 32 metres north of hole MT-08-003 and 27 metres south of hole MT-08-028.
All these holes were drilled on the MT-22 lens, discovered by Strateco in 2008. The MT-22 lens contains an estimated 885,000 tonnes at an average grade of 0.52% U3O8, representing 10.1 millions pounds, all in the Inferred resource category.
As a measure, 1% U3O8 represents approximately 22 pounds per tonne. The uranium spot price is currently US $51 per pound.
See "Matoush Project-Longitudinal" section at www.stratecoinc.com.
Table 1: Drill Results
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Lens Hole Collar AZ Dip
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( degrees ) ( degrees )
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MT-22A MT-12-012 27+31 S 10+76 E 276.5 -63.6
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MT-08-003 26+50 S 14+50 E 264.0 -47.0
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Including
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MT-08-028 27+38 S 12+13 E 285.2 -58.2
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Including
------------------------------------------------------------------------
------------------------------------------------------------------------
Lens From To Length(i) eU3O8(ii) U3O8
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(m) (m) (m) (%) (%)
------------------------------------------------------------------------
MT-22A 432.5 441.0 8.5 3.62
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577.5 585.0 7.5 1.91
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581.6 584.0 2.4 5.58
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405.4 445.8 40.4 0.51
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433.4 440.8 7.4 2.26
------------------------------------------------------------------------
Notes:
(i) True widths of the intersections have not been calculated.
(ii) The letter "e" in eU3O8 indicates that this is an equivalent uranium
grade determined using a gamma probe.
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. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.
Contacts:
Strateco Resources Inc.
Guy Hebert
President and Chief Executive Officer
450-641-0775 or 1-866-774-7722
450-641-1601 (FAX)
ghebert@bbhgm.com
Strateco Resources Inc.
Jean-Pierre Lachance
Executive Vice President
450-641-0775 or 1-866-774-7722
450-641-1601 (FAX)
jplachance@bbhgm.com
www.stratecoinc.com
Jason Roy
Consultant, Investor Relations
647-780-2837
514-240-7662
jroy@stratecoinc.com