MONTREAL -- Strateco Resources Inc. (TSX VENTURE:RSC)(US SEC Registration # 0-49942)
Strateco owns 100% of two properties and has interests in or options on six others located in mining-friendly Quebec. These properties cover 538 claims for a total area of 18,778 hectares. Of particular
The area of the Otish Mountain have recently received an increased amount of activity from mining giant Cameco Corporation Cameco (the worlds largest publicly traded uranium company) has begun an intense ground-staking programcontiguous and south of RSC's Otish Mountain property. RSC acquired the Matoush 51% option and Eclat 100% option earlier in 2005 and are very excited about Cameco's activity. This confirms RSC's belief in the quality of these claims and thus will be planning an aggressive drill program of their own.
An equally exciting prospect is the Mont Laurier. This high potential property has drawn the likes of Nova Uranium (NUC). Nova Uranium and Strateco (RSC) share the promising North East trend in the Mont Laurier area. Nova grab samples ranged from greater than 9.43 lb/ton U3O8 to 0.07 lb/ton U3O8 prompting them to aggressively explore the area and commence a full-scale drill program in the very near future. RSC's promising south extension will soon announce drill plans of their own for this extremely promising property which has previously obtained values of 11.8 lb/ton U308 to 0.7 lb./ton U308.
In the past Allied Mining, Canadian Johns-Manville and Mont Laurier Uranium Mines Inc. have all confirmed the area holds potential for near-surface, large-tonnage, low-grade, uranium deposits amenable to open-pit mining methods. Dramatic price increases (from US$6-$36/lb in the past few years) in uranium have prompted this renewed effort in uranium exploration. The timing is favorable, given the steadily increasing price of uranium and growing demand for alternate energy solutions. The acquisition of the Matoush, Eclat and Mont-Laurier sites would seem further justified given the fervent activity these major mining companies have recently shown on the properties 'next door'.
STRATECO RESOURCES INC. (TSX VENTURE:RSC)