United States Forest Service Publishes Draft EIS for Strathmore's Roca Honda
KELOWNA, BRITISH COLUMBIA -- (Marketwire) -- 03/18/13 -- STRATHMORE
MINERALS CORP. ("Strathmore" or the "Company") (TSX:STM)(OTCQX:STHJF)
announces that the US Forest Service ("USFS") has published the Draft
Environmental Impact Statement ("DEIS") for the Company's Roca Honda
uranium project in New Mexico. The Roca Honda project is 60% funded
by Strathmore and 40% funded by Sumitomo Corporation of Japan under
the terms of the Roca Honda Resources LLC ("RHR") Joint Venture.
The issuance of the DEIS represents the culmination of over three
years of work by the USFS in association with Mangi Environmental
Group, the third party independent consultant contracted to assist
with the preparation of the DEIS. A number of State of New Mexico
agencies, including the New Mexico Energy, Minerals & Natural
Resources Department, Mining and Minerals Division ("MMD"), also
provided significant input to its preparation.
Notice of availability of the DEIS was published in the Federal
Register, the Daily Journal of the United States Government, on March
15, 2013, and the document has been posted on the USFS and MMD
websites. The publication of the DEIS officially starts the 60 day
public comment period. Two "open-house" public meetings, to be held
in Grants and Gallup, New Mexico, have been tentatively scheduled in
mid-April, to provide an opportunity for the public to discuss the
project, and submit oral and written comments. This process will
ultimately lead to the completion of the Final Environmental Impact
Statement and the Roca Honda mine permit Record of Decision expected
later this year.
A copy of the DEIS has been posted the Strathmore's website:
Roca Honda Project Summary
The Roca Honda Property is situated on public lands managed by the US
Forest Service and the State of New Mexico, in the Grants Uranium
District, New Mexico. This project is 60% funded by Strathmore and
40% funded by Sumitomo Corporation of Japan under the terms of the
RHR LLC Joint Venture.
In October 2009, the RHR LLC Joint Venture submitted a mine permit
application for the proposed underground development of the Roca
Honda Property. In November 2009, the mine permit application was
deemed "administratively complete", by federal and state regulatory
agencies, thereby initiating the technical review process. In
February 2010, Mangi Environmental Group was chosen as the
independent consultant contracted to assist the USFS with the
preparation of the EIS. In August 2012, Roscoe Postle Associates Inc.
("RPA") completed an updated NI 43-101 compliant mineral resource
estimate and Preliminary Economic Assessment ("PEA") for the uranium
resources outlined to date at Roca Honda. The updated NI 43-101
resource estimate prepared by RPA confirms Roca Honda as one of the
highest grade uranium deposits in the United States. In March 2013,
the USFS published the DEIS for public comment.
Summary of Roca Honda Mineral Resources:
Measured and Indicated Resources:
Classification Tons U3O8 Lb U3O8
Measured 284,000 0.395 2,247,000
Indicated 1,793,000 0.405 14,536,000
Total M+I 2,077,000 0.404 16,783,000
Classification Tons U3O8 Lb U3O8
Inferred 1,448,000 0.411 11,894,000
Notes: CIM definitions were followed for Mineral Resources; Mineral
Resources are estimated using a cut-off grade of 0.13% U3O8; a
minimum mining thickness of six feet was used; numbers may not add
due to rounding.
The modeling and estimation of the uranium resources were prepared
under the supervision of Patti Nakai-Lajoie, P.Geo., & Principal
Geologist with RPA at that time. Ms. Nakai-Lajoie is a Professional
Geoscientist in the Province of Ontario and an independent and
Qualified Person as defined in NI 43-101. Ms. Nakai-Lajoie visited
the Roca Honda Property on May 10-12, 2011 and is of the opinion that
the data verification procedures support the geologic interpretations
and confirm the quality of the database. It should be noted that
mineral resources, which are not mineral reserves, do not have
demonstrated economic viability.
Further information is available by referencing the Roca Honda NI
43-101 technical report entitled, "Technical Report on the Roca Honda
Project, McKinley County, New Mexico, USA", prepared for Roca Honda
Resources, LLC, by Roscoe Postle Associates Inc., and dated August
6th, 2012. Report for NI 43-101 Including Updated Minerals Resource
Estimate and Preliminary Economic Assessment.
The technical information in this news release has been prepared in
accordance with the Canadian regulatory requirements set out in NI
43-101 and reviewed by David Miller, CEO for Strathmore Minerals
Corp., a qualified person under NI 43-101.
STRATHMORE MINERALS CORP. is a Canadian based resource company
specializing in the strategic acquisition, exploration and
development of mineral properties in the United States. Headquartered
in Vancouver, British Columbia with a branch administrative office in
Kelowna, the Company also has U.S. based Development Offices in
Riverton, Wyoming and Santa Fe, New Mexico.
STRATHMORE MINERALS CORP. Common Shares are listed on the TSX under
the symbol "STM" and trade on the OTCQX International electronic
trading system in the United States under the symbol "STHJF".
This press release contains "forward-looking information" that is
based on Strathmore Minerals Corp.'s current expectations, estimates,
forecasts and projections. This forward-looking information includes,
among other things, statements with respect to the permitting and
development plans and draft EIS for the Company's Roca Honda
Property. The words "may", "would", "could", "should", "will",
"likely", "expect," "anticipate," "intend", "estimate", "plan",
"forecast", "project" and "believe" or other similar words and
phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause Strathmore's actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking information. Such factors include, but are not
limited to: uncertainties related to the historical resource
estimates, the work expenditure commitments; the ability to raise
sufficient capital to fund future exploration or development
programs; changes in economic conditions or financial markets;
changes in input prices; litigation; legislative, environmental and
other judicial, regulatory, political and competitive developments;
technological or operational difficulties or an inability to obtain
permits required in connection with maintaining, or advancing
projects; and labour relations matters.
This list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on
such forward-looking information. Such forward-looking statements are
made as of the date of this press release and the Company assumes no
obligation to update or revise them to reflect new events or
circumstances, except as required by law.
ON BEHALF OF THE BOARD:
David Miller, CEO
Strathmore Minerals Corp.
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