Strong uranium grades are leading Strateco Resources (RSC-T, SRSIF-O) to the north side of a new mineralized zone discovered on its Matoush property, in the Otish Mountains of Quebec.
While most of the drilling was done in December on the new zone, it was the last few holes in January that were the most encouraging.
Hole MT-08-003 returned a 5.8- metre intersection grading an estimated 2.86% U3O8, including 3.4 metres grading an estimated 4.48% U3O8.
December drilling included a 2.3- metre intersection grading an estimated 0.62% U3O8 and 5.3 metres of 0.37% U3O8.
The grades are all estimated or equivalent values of U3O8, as determined by down-hole geophysical probing. They were not obtained by drill core assay, but rather by converting gamma radiation measured in situ in the drill hole into U3O8 values. The method assumes that all gamma radiation can be directly attributed to the quantity of uranium present in the rock.
Strateco reports that the best intersections came from the northern end of the deposit, in the direction
of a presumed extension of a vertical fault that has been intersected in the upper levels.
The new zone, where the company drilled on a 100-metre grid, is located about 200 metres below the AM-15 lens at a vertical depth of 300 to 600 metres over a length of 450 metres.
The company says the presence of fuschite alteration and the absence of dykes in the three northernmost holes shows there’s strong potential to find more mineralization.
Strateco, which has four drill rigs on-site, has continued testing the deposit to the north. The company
began a 40,000-metre drill program in early January with 115 “very strategic,” holes planned over the 312-sq.-km property.
The company is also focusing on the Laurent Martin area, a southern extension of the AM-15 lens, about 5 km east. Drilling has already started, with the first hole located on a lake.
Strateco has budgeted $22 million for exploration at Matoush this year.
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