Strathmore Acquires New Mexico Uranium Deposits.Business Editors KELOWNA, British Columbia--(BUSINESS WIRE)--March 15, 2004 Strathmore Minerals Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. ) ("the company") is pleased to announce that it has agreed to acquire two significant Uranium Deposits, both located within the Grants Uranium Belt of New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Grants Uranium District is one of the premier uranium districts in the world, and has produced over 340 million pounds of uranium. The company has acquired a 100 per cent interest in the Ram Claims, which are located in the Churchrock Mining District, near the western end of the Grants Uranium Belt; and a 100 percent interest (99 per cent net) in the Roco Honda deposit, which is between the Ambrosia ambrosia (ămbrō`zhə), in Greek mythology, food and drink with which the Olympian gods preserved their immortality. Extraordinarily fragrant, ambrosia was probably conceived of as a purified and idealized form of honey. Lake and Mt. Taylor uranium deposits, within the central part of the Grants Uranium Belt. The deposits are within sandstones of the Jurassic Westwater Canyon Westwater Canyon is a canyon located on the Colorado River in Eastern Utah between Grand Junction, Colorado and Moab, Utah. The inner gorge of the canyon is made up of black Precambrian rock and contains class III and IV rapids which are well sought after by whitewater enthusiasts. Formation. Both deposits may be amenable to mining by in-situ leach In-situ leaching (ISL), also called in-situ recovery (ISR) or solution mining, is a process of recovering minerals such as copper and uranium through boreholes drilled into the deposit. The process initially involves drilling of holes into the ore deposit. methods (ISL ISL - Interface Specification Language. Xerox PARC. Interface description language used by the ILU (Inter-Language Unification) system. Includes descriptions of multiple inheritance, exceptions and garbage collection. E-mail: Bill Janssen <janssen@parc.xerox.com>. ). Based on over 150 drill holes, prior operators previously reported over 6 million pounds of contained U3O8, for the Churchrock Uranium Deposit. The deposit was previously explored by Kerr McGee of New Mexico. The Roco Honda uranium deposit has previously been reported to contain over 12 million pounds of U3O8, at an average grade of 0.31% U3O8. The project has been the subject of an extensive drill program conducted in the late 1970's and early 1980's. Additional work including feasibility studies and mining planning were completed; however, the collapse of uranium prices in 1980 prevented the planned mining operations. As the foregoing resource estimates were completed prior to the implementation of NI 43-101, they should not be relied upon; however, they do provide a historical context and a framework for the continued exploration of the property. It should also be noted that the extensive exploration and development was well documented and the company believes it to be of a very high quality. Subject to regulatory approval, the Company will pay $150,000 US and issue 300,000 shares over two years for the acquisition of both the Churchrock and Roco Honda uranium deposits. Strathmore Minerals Corp. is a Canadian based resource company specializing in the strategic acquisition and development of uranium properties. Strathmore Minerals Corp Common Shares are listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "STM". The foregoing press release was prepared on behalf of the company by Jody Dahrouge, P.Geol. of Dahrouge Geological Consulting Ltd., Edmonton, Alberta. Mr. Dahrouge, is the Qualified Person (QP) for the Churchrock and Roco Honda deposits. Also, the company wishes to reiterate that as the foregoing resource estimates were completed prior to the implementation of NI 43-101, and they should not be relied upon; however, they do provide historical context and a framework for the continued exploration of the property. ON BEHALF OF THE BOARD Dev Randhawa, President Jody Dahrouge, P. Geol. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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