NEWS RELEASE!
March 10, 1997
STRATHMORE RESOURCES LTD. ("SMR-V;SHMFF-L")
- 100% Interest in 128 Claims in Green River District
Kenneth Friedman, President and Chief Executive Office of Strathmore Resources Ltd. announces the Company has completed the purchase of a 100% interest in 128 claims in the Tidwell mineral belt of the San Rafael River Mining Area, Green River District. This mining district, in east central Utah, was a major uranium district from 1950 to the late 1970's and has produced more than 3 million pounds of U308 (along with 5 million pounds of V205). Uranium mineralization in the district occurs in eight different horizons, but mining was generally confined to two levels which were close to the surface and relatively dry. While most of the mining was from shallow depths, ten mines produced from underground workings more than 300 metres deep, and two mines had workings more than 3,000 metres deep.
Following a detailed mapping of the district in 1975, the Utah Geological and Mineral Survey (UGMS) estimated a potential for more than 8 million pounds of U308 that could be produced by conventional mining with a cut off grade of 0.12% to 0.15%. This estimate is based on only the top two mineralized horizons, which are above the water table and relatively dry. It is plausible that in situ leaching of these deposits would allow the profitable mining of the six horizons
below the water table and of grades well below the cut-off grade used by the UGMS, resulting in uranium production beyond the 8 million pound estimate.
The purchase price is $75,000 US and 70,000 shares of SMR stock payable to Concept Capital Ltd. No finder's fee will be paid.
Strathmore Resources is a Canadian based growth company specializing in the acquisition and development of low cost uranium properties in the southwest US.
TEL: (800) 647-3303 Kenneth Friedman, President and CEO
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