STRATHMORE PLUS URANIUM CORP. Kelowna, British Columbia--(Newsfile Corp. - July 16, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce a new discovery of uranium in the Middle sand, one mile south of the company's expanding northern trend. All previous drilling encountered uranium mineralization only in the Lower sand. The middle sand was the most prolific producer historically in the Shirley Basin. This exciting southern discovery shows increasing grades and above average thickness.
| Southeast Mineralized Trend (Middle Sand, Wind River Formation) | ||||||||
| Hole ID | Latitude | Longitude | Depth (ft) | Top (ft) | Bottom (ft) | Thickness (ft) | Grade % eU3O8 | Grade x Thickness |
| AG-135-24 | 42.30389 | (106.27831) | 120 | 16.0 | 32.5 | 16.5 | 0.035 | 0.578 |
| AG-137-24 | 42.30365 | (106.27874) | 140 | 17.5 | 28.0 | 10.5 | 0.032 | 0.336 |
| AG-138-24 | 42.30446 | (106.27828) | 120 | 36.5 | 40.5 | 4.0 | 0.062 | 0.248 |
| AG-143-24 | 42.30500 | (106.27869) | 120 | 30.5 | 44.5 | 14.0 | 0.046 | 0.644 |
| AG-147-24 | 42.30580 | (106.27865) | 120 | 29.0 | 44.5 | 15.5 | 0.051 | 0.791 |
Mr. John DeJoia said, "We are excited to hit a mile away. The initial results of the one mile step out to the south has opened a whole new aspect to the agate project. With the discovery of mineralization exhibiting good ISR GT's (grade thickness), in the middle sand of the Wind River Formation, we now have the potential for a much larger area of mineralization development in an additional sand unit of the Wind River. This is much like the main roll system that was successfully mined to the east. The results of exploration at the Agate Project are responding as our geologic model predicted. We are very excited by this latest step out discovery."
AGATE PROJECT:
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3282/216554_d3f0fdd5f4107af6_002full.jpg
Mr. Terrence Osier, VP Exploration said, "We are extremely encouraged by the Agate project as we have greatly expanded the length of the northern trend from the 2023 discovery. We encountered uranium mineralization, one mile south, in the Middle sand of the Wind River Formation, the primary sand mined in Shirley Basin. The company had only encountered mineralization in the Lower sand before this. This Middle sand discovery increases our potential to have stacked roll fronts across portions of the property, which will greatly increase our resource potential. I look forward to ongoing work to model the uranium deposits we've drilled with results to guide our Phase 2 autumn exploration plans."
This summer five core holes are planned to compliment groundwater studies from closely located monitor wells. The core will be used for chemical equilibrium studies and by the University of Wyoming for their ongoing geophysical research at the project. In autumn Phase 2 drilling of an additional 100 exploratory holes is scheduled. Planned drilling intends to expand the northern trend into untested ground, including on recently staked claims, and along the newly discovered, shallow Middle zone into deeper ground to the north. The intent of the exploration is to expand the mineralization on the property into a multi-zone deposit, with the potential of stacked roll fronts.
Note: The tabled geophysical results are based on equivalent uranium (eU3O8) of the gamma-ray probes calibrated at the Department of Energy's Test Facility in Casper, Wyoming. A series E Century Geophysical logging tool with gamma-ray, spontaneous potential, resistivity, and drift detectors was utilized. The reader is cautioned that the reported uranium grades may not reflect actual concentrations due to the potential for disequilibrium between uranium and its gamma emitting daughter products.
About the Agate Property
The Agate property consists of 85 wholly owned lode mining claims covering 1,756 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization. In 2023 and 2024, the Company completed 200 exploration holes on the Project, discovering several areas of potential mineralization. Additional drilling is planned for autumn 2024.
About Strathmore Plus Uranium Corp. Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.
Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward-looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.
Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216554
