Strathmore Acquires Former Producing Uranium Mine in Wyoming
Kelowna, British Columbia--(Newsfile Corp. - June 1, 2022) - Strathmore Plus Energy Corporation (TSXV: SUU.H) (OTC: SUUFF) ("Strathmore Plus" or "the Company") is pleased to announce that it has acquired by staking the Night Owl claims in the Shirley Basin uranium district of Wyoming. Night Owl was formerly mined by Night Owl Properties & Battle Axe Mining Co. producing 93 tons at a grade of 0.24% U3O8, which was mined at or near surface in the late 1950s to early 1960s. Production at Night Owl ceased due to low uranium prices ($7), not for lack of resource. Wyoming Uranium LLC, to be acquired by the Company, has strategically staked the core of the Night Owl production and the surrounding areas. The Night Owl area has not been properly explored using modern exploration techniques. Production began without drilling along outcrop exposures in the mid 1950s.
Night Owl was originally discovered by aerial surveys using an aircraft-mounted scintillometer followed by surface radiometric surveys and sampling since the mineralization is at or near the surface (like how most Wyoming basins were originally discovered). The mineralization is located/contained within a brecciated zone lying beneath the unconformable contact that separates the much younger Shirley Basin sediments from the Mississippian Madison Formation (limestone) and the overlying Pennsylvanian-Permian Casper Formation (sandstone). The 7- to 10-foot-thick zone of breccia consists of voids filled with silicious materials containing complex uranium minerals, including uranyl phosphates. Historical documents suggest uranium mineralization upward of 1.0% U3O8. Additionally, elevated concentrations of molybdenum, nickel, vanadium, and phosphorous were noted in the historical analysis reports of the Night Owl mineralization.
Battle Axe Mining produced uranium under contract with the Atomic Energy Commission (now the Department of Energy). The Shirley Basin historically produced more than fifty-one million pounds of uranium from the 1960s through the 1990s. Strathmore Plus's co- founder and technical advisor, John DeJoia, during his tenure at Utah international, oversaw the production of close to 20 million pounds of uranium in the Shirley Basin. The Night Owl project is located in Albany/Carbon Counties, Wyoming, approximately 40 miles southeast of Casper, Wyoming. Other companies in the Shirley Basin area include Cameco, enCore, UEC, and Ur Energy.
Mr. DeJoia stated, "Our latest land acquisition is just a few miles from the heart of the Shirley Basin Uranium Mining District. We at Strathmore Plus have stepped outside the standard - roll front model. Although the model was the basis for our search, history played an even bigger role. We staked a property I had visited in the early 1970s and have been intrigued with it ever since. We learned from the historical records that slightly under a hundred tons of uranium mineralization had been produced here, although we knew little of the area's geology. Upon staking, our Vice President and Chief Geologist, Mr. Terrence Osier, confirmed the mineralization was mined at or near the surface. Further reconnaissance by Mr. Osier, also confirmed promising geologic conditions in a zone of brecciated material exposed at the surface which underlies the area at shallow depths. We look forward to surface exploration and shallow drilling to substantiate our theories as to the source of the uranium mineralization and it's potential for future mining."
The Company intends to explore the project utilizing radiometric ground surveys in conjunction with soil sampling and analyses, followed by trenching and exploratory drilling based upon the results of the initial field activities.
About Strathmore Plus Energy Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
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 Energy 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 Energy Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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 Energy Corp., a Qualified Person.
Strathmore Plus Energy Corp.
Telephone: 1 888 882 8177
ON BEHALF OF THE BOARD
Dev Randhawa, CEO
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