Caledonia Mining Corporation Plc press release
Strategic Resources Baca Uranium Project Update
NYSE - New York Stock Exchange ยท Jersey
Jun. 20, 2011 (Canada NewsWire Group) --
TSX.V: UVR
REGINA, June 20, 2011 /CNW/ - (TSXV: UVR) - Strategic Resources Inc. ("Strategic") has now completed a 5 hole drilling program on its joint venture Baca Uranium project located in Catron County, New Mexico (see press release of Mar 2, 2011).
In total 1027 feet of core drilling was carried out. Drill holes were probed by Century Geophysical of Tulsa, Oklahoma.
Two of the drilled holes encountered mineralization at depths of less than 80 feet.
| Hole | From (feet) | To (feet) | Interval (Feet) | % eU3O8 | | 16 | 72.5 | 74.5 | 2 | 0.011 | | 19 | 33 | 35 | 2 | 0.014 |
This drilling program demonstrates that mineralization does occur at the contact of an oxidized paleosol and the underlying Crevasse Canyon shale formation as inferred by Dr. R. Chamberlain (New Mexico Bureau of Mines, 1981) in his exploration model for the area.
The map contained within this press release (http://files.newswire.ca/973/Baca.pdf) illustrates that this contact zone deepens on a southerly trend.
In keeping with the Chamberlain model, Strategic Resources believes that uranium mineralization in a roll front type formation has moved downdip further into the regional basin structure that characterizes the project area. Future exploration activity should focus on drill targets located further into this basin structure at depths of between 200 and 500 feet where uranium mineralization is most likely to have accumulated below the ground water table and would be most amenable to in-situ (ISR) recovery.
Under the guidelines of National Instrument 43-101, the Qualified Person responsible for the Baca project and the technical content of this news release is Tony Kovschak, M.Sc. CPG.
About Strategic Resources Strategic Resources is a Canadian based junior exploration company with uranium exploration projects in Catron County, New Mexico, Rare Earth exploration projects in Lincoln County and Socorro County, New Mexico and a Lithium prospect in Malheur County, Oregon. More information about the company is available on line at www.strategicresourcesinc.ca.
Disclaimer: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking statements: _This news release may contain certain forward-looking inferences or statements. These forward-looking inferences orstatements are subject to a variety of risks and uncertainties beyond the Corporation's control or prediction and couldcause actual events or results to differ materially from those anticipated in such forward-looking statements. Although theCorporation believes that the assumptions inherent in the forward-looking statements are reasonable, undue relianceshould not be placed on these forward-looking statements._
Malcolm Bucholtz, President & CEO,Tel: 1.306.525.0852 or 1.505.504.2398 strategicminerals@yahoo.com