Strathmore Hits First Step Out 800 Feet Away

Rhea-AI Summary

Strathmore Plus Uranium Corporation announces results of additional drilling at Agate project

Positive

• Drilling extends known mineralization at least 800 feet west of discovery hole AG-10-23
• New drill hole AG-16-23 intercepts 21 feet of 0.089% eU3O8
• Exploration ongoing across the property

Negative

• None.

Kelowna, British Columbia--(Newsfile Corp. - October 19, 2023) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce the results of an additional 16 holes drilled at the Agate project in the Shirley Basin Uranium District of central Wyoming. Drilling has extended the known mineralization at least 800 feet west of discovery hole AG-10-23 which encountered 16 feet of 0.081% eU₃O₈ (see press release dated October 16, 2023); new drill hole AG-16-23 intercepted 21 feet of 0.089% eU₃O₈ from 79-100 feet (see table below). The 16 holes were drilled to the north, west, and east of the discovery hole, extending mineralization in each direction. Additionally, new drill holes AG-28-23 and AG-29-23, which encountered mineralization, were drilled 800 feet north of hole AG-16-23; exploration is ongoing across this area of the property.

Phase 1 of exploratory drilling at the Agate project is targeting the Lower "A" sand of the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity, permeability, and transmissivity. Strathmore is exploring an area of the Agate project where historical drilling completed by Kerr McGee Corporation in the 1970s encountered uranium roll-front deposits, saturated with groundwater, from 80-150 feet deep. The intercept results for the 16 holes are reported at a minimum thickness of 2-feet and a grade cutoff of 0.02% eU₃O₈ (equivalent uranium). In addition, those mineralized holes with below cutoff intercepts are included and italicized in the table below.

Hole ID	Latitude	Longitude	Interval (ft)	Thickness (ft)	Grade % eU3O8	Grade x Thickness
AG-13-23	N 42.31551	W-106.28705	88.5-91.0	2.5	0.073	0.183
AG-14-23	N 42.31522	W-106.28698	101.0-107.5	6.5	0.016	0.104
			122.0-124.0	2.0	0.019	0.038
AG-15-23	N 42.31544	W-106.28696	Non-mineralized
AG-16-23	N 42.31473	W-106.28720	79.0-100.0	21.0	0.089	1.869
AG-17-23	N 42.31471	W-106.28667	91.5-99.5	8.0	0.013	0.104
AG-18-23	N 42.31469	W-106.28619	90.0-93.5	3.5	0.012	0.042
AG-19-23	N 42.31445	W-106.28663	76.5-81.5	5.0	0.045	0.225
			89.5-92.5	3.0	0.067	0.201
AG-20-23	N 42.31444	W-106.28715	89.5-95.0	5.5	0.031	0.171
AG-21-23	N 42.31442	W-106.28779	76.5-79.5	3.0	0.020	0.060
AG-22-23	N 42.31469	W-106.28766	83.0-85.0	2.0	0.027	0.054
AG-23-23	N 42.31947	W -106.28754	104.0-112.0	8.0	0.011	0.088
AG-24-23	N 42.31458	W -106.28719	96.5-99.0	2.5	0.021	0.053
AG-25-23	N 42.31532	W -106.28452	74.0-77.5	3.5	0.014	0.049
			91.0-97.5	6.5	0.015	0.098
AG-26-23	N 42.31562	W -106.28460	Non-mineralized
AG-28-23	N 42.31684	W -106.28555	128.5-130.5	2.0	0.011	0.022
			133.5-135.5	2.0	0.011	0.022
AG-29-23	N 42.31693	W -106.28612	120.0-124.0	4.0	0.036	0.144

 

Note: The geophysical results are based on equivalent uranium of the gamma-ray probes calibrated at the Department of Energy's Test Facility in Casper, Wyoming. A geophysical 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.

• Mineralized holes with thicker, higher-grade intercepts are interpreted to be in the Near Interface, Nose (main front), or Near Seepage ground located within the projected roll front system.

• Mineralized holes with thinner, below cutoff grade intercepts are interpreted to be in the Limb/Tails or Remote Seepage ground located behind (altered) or ahead (reduced) of the projected roll front system, respectively.

• Non-mineralized holes are interpreted to be in the Barren Exterior (reduced) ground located ahead of the projected roll front system.

About the Agate Property
The Agate property consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 55 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 25 to approximately 150 feet deep, much of which is 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 exploration holes, delineating several areas of potential mineralization that Strathmore intends to explore during the Phase 1 exploration project.

Strathmore is permitted to drill 100 holes for 15,000 feet in Phase 1 at Agate. The exploratory drilling is being completed by Single Water Services and the geophysical probing by Hawkins CBM Logging, both of Wyoming with extensive experience working in the uranium industry.

About Strathmore Plus Uranium Corp.
Strathmore has three permitted uranium projects in Wyoming, 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: 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 because 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/184525

FAQ

What are the results of the additional drilling at the Agate project?

The drilling has extended the known mineralization at least 800 feet west of the discovery hole AG-10-23.

What were the results of drill hole AG-16-23?

Drill hole AG-16-23 intercepted 21 feet of 0.089% eU3O8.

Is exploration ongoing at the property?

Yes, exploration is ongoing across the property.