Kelowna, British Columbia--(Newsfile Corp. - September 24, 2024) - Strathmore Plus Uranium Corporation (TSXV: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce that the drill equipment has mobilized to the Beaver Rim Project with exploration to begin Wednesday, September 25. The permit allows for 10,000 feet of drilling, planned to confirm historical results and extend mineralization into areas sparsely explored in the past. In addition, Strathmore has doubled the size of the project by staking 134 mining claims, bringing the project total to 265 claims for 5,475 acres. The new claims are contiguous with the current claim groups, merging and expanding the West and East Diamond properties, and extending the North and South Sage properties into lands with potential for uranium mineralization based on historical mapping and close-spaced drilling noted in the field.
Mr. John DeJoia, Director of Strathmore, said, "I am excited to start drilling on the Beaver Rim property. I have been looking forward to exploration atop Beaver Rim since I was Chief Geologist and Director to Technical Services for Federal American Partners (JV Operator for Tennessee Valley Authority (TVA) in the early to mid-1980's). TVA's historical unmined resource estimated approximately 47,000,000 pounds of uranium remaining in the Gas Hills district. Most of this resource lies immediately north of our Beaver Rim properties. TVA had open pits and an underground mine operation within the Gas Hills district when operations ceased in 1982. TVA had our own internal drilling company and had up to 18 rigs working. The underlying Beaver Rim sediments were suspected as the mineralizing conduit for most of the Gas Hills deposits. I always wanted to explore Beaver Rim, but with our limited financial resources, and the amount of claim maintenance and development drilling required, TVA could never justify exploration efforts outside our mine development areas. When Dev Randhawa and I first started Strathmore Plus a few years ago, this was the first area we targeted for acquisition. Fortunately, we were able to hire Terrence Osier and acquire claims on Beaver Rim. I will be in Wyoming for the start of this drilling project. I've waited over 40 years to explore Beaver Rim."
Beaver Rim Technical Report
The Company has refiled to Sedar a technical report for the Beaver Rim project titled Technical Report on the Gas Hills-Beaver Rim Uranium Exploration Project, Fremont and Natrona Counties, Wyoming, USA. The report was authored by Mark B. Mathisen, C.P.G., of SLR International Corporation, and dated May 31, 2022. The report was required for Company regulatory purposes and inadvertently misfiled at the time in 2022. The report is available at www.sedarplus.ca. An updated report is planned upon completion of the autumn exploration program at the Beaver Rim project.
About the Beaver Rim Project
The Gas Hills uranium district is the largest uranium district in the State of Wyoming; with more than 100 million pounds of uranium being mined between 1954 to1988 when production ceased due to declining prices. Historical and recent reports suggest 50 to100 million pounds of uranium may exist in the Gas Hills district. The Beaver Rim project consists of 265 wholly owned mining claims totaling 5,475 acres. The project area was previously explored by American Nuclear in the 1970s, Cameco between1990 to early 2000's, and most recently by Strathmore Minerals in 2012, where uranium mineralization was encountered at depths of 700-1,000 feet, contained in stacked, Wyoming-type roll front deposits within arkosic-rich sandstones of the Eocene-age Wind River Formation.
The Beaver Rim project lies immediately south and adjacent to Cameco's fully permitted Gas Hills in-situ recovery project. The Beaver Rim - West Diamond claim group lies south of Cameco's Peach deposit, for which Cameco reported mineral reserves and resources of 7.0 million and 2.6 million pounds of uranium, respectively (2002 Annual Report -tonnage and grade % not stated). Additional, historically defined resources controlled by Cameco are noted to trend from their Peach property south beneath the Beaver Rim claims including the West Diamond, East Diamond, North Sage, and South Sage properties. Strathmore is reviewing the greater Beaver Rim area and past exploration as part of its intent to acquire additional properties with the potential to contain uranium mineralization.
About Strathmore Plus Uranium Corp.
Strathmore has three permitted uranium projects in Wyoming: Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium mineralization in typical Wyoming-type roll front deposits based on historical and recent 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 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/224181
SOURCE: Strathmore Plus Uranium Corp.
