Strathmore Plus Energy Corp Stock Price, News & Analysis

Strathmore Plus Uranium Corporation (SUUFF) has announced a non-brokered private placement offering to raise up to $1 million through the sale of 8,333,334 units at C$0.12 per unit. Each unit includes one common share and one purchase warrant, with warrants exercisable at $0.15 per share for 36 months. The proceeds will fund working capital and exploration of the company's Wyoming properties. The offering includes a four-month hold period on securities, and insiders are expected to participate. While insider participation constitutes a related party transaction under MI 61-101, it's expected to be exempt from formal valuation and minority shareholder approval requirements. The closing is subject to receiving subscriptions and regulatory approval.

Strathmore Plus Uranium (SUUFF) has expanded its Agate Project by adding 15 lode mining claims, bringing the total to 100 claims covering ~2,067 acres. Located in the Shirley Basin Uranium District, the project has shown promising results with 90% of 200 exploration holes hitting mineralization. Notable discoveries include a new zone of shallow mineralization with intersections of 14 feet of 0.046% eU₃O₈ and 15.5 feet of 0.051% eU₃O₈. The company's 2025 exploration plan includes up to 100 permitted drill sites and five core holes for groundwater studies. The University of Wyoming is conducting geophysical research at the site, supported by $320,000 in grants, to detect and image uranium roll fronts.

Strathmore Plus Uranium announced successful drilling results at its Beaver Rim project, discovering two uranium roll fronts. Notable intercepts include 7.5 feet grading 0.042% eU3O8 (hole BR-03-24) and 4.5 feet grading 0.024% eU3O8 (hole BR-01-24). The project, located 1-3 miles south of Cameco's Gas Hills project, confirmed the presence of uranium-bearing Puddle Springs Arkose member sediments, varying in thickness from 130-170 feet. The drilling program validated the company's geological model, identifying mineralization above grade cutoff in two holes, with a third hole showing above-background gamma levels. Strathmore plans to continue exploration in 2025.

Strathmore Uranium Corp (TSXV: SUU) (OTCQB: SUUFF) has announced its participation in Red Cloud's 2024 Fall Mining Showcase in Toronto. The event will take place on October 16 & 17, 2024, at the Sheraton Centre Toronto Hotel. Dev Randhawa, Chairman & CEO of Strathmore Uranium, is scheduled to present on October 17th at 4:00 PM Eastern Standard time.

The company invites shareholders and interested parties to attend the conference. Registration details can be found on the Red Cloud Financial Services website. For additional information, interested parties can contact Jamie Bannerman, Corporate Development, at 2508686553 or jamie@rdcapital.com.

Strathmore Plus Uranium (TSXV: SUU) (OTCQB: SUUFF) has commenced drilling at its Beaver Rim Project in Wyoming. The company has doubled the project size by staking 134 new mining claims, bringing the total to 265 claims covering 5,475 acres. The drilling permit allows for 10,000 feet of exploration, aimed at confirming historical results and extending mineralization.

John DeJoia, Director of Strathmore, expressed excitement about exploring Beaver Rim, which he has been anticipating since his time as Chief Geologist for Federal American Partners in the 1980s. He noted that the Gas Hills district, immediately north of Beaver Rim, historically contained an estimated 47 million pounds of uranium.

The company has also refiled a technical report on the Beaver Rim project to Sedar, dated May 31, 2022. An updated report is planned following the completion of the autumn exploration program.

Strathmore Plus Uranium (TSXV: SUU) (OTCQB: SUUFF) has received the final Drill Notice permit from Wyoming to conduct exploratory drilling at the Beaver Rim project in the Gas Hills Uranium District. The permit allows for 10,000 feet of drilling, set to begin on September 16th. The company aims to confirm historical results and extend mineralization into sparsely explored areas.

VP Exploration Terrence Osier expressed excitement about the project, citing previous drilling experience at Beaver Rim in 2012. The area features stacked roll-fronts at depths of 700 to 1,000 feet, with multiple targets across the properties. The company has contracted Lou's Drilling of Riverton and Hawkins CBM Logging of Cody for the exploration campaign, with plans to build on the results in 2025 and beyond.

Strathmore Plus Uranium (TSXV: SUU) (OTCQB: SUUFF) has announced a new uranium discovery in the Middle sand, one mile south of their expanding northern trend at the Agate Project in Shirley Basin. Previous drilling had only encountered uranium in the Lower sand. The Middle sand was historically the most prolific producer in the area.

Key highlights:

• The southern discovery shows increasing grades and above-average thickness
• Five core holes are planned for groundwater studies and geophysical research
• Phase 2 drilling of 100 exploratory holes is scheduled for autumn
• The company aims to expand mineralization into a multi-zone deposit with potential stacked roll fronts

This discovery opens up potential for a larger area of mineralization development in an additional sand unit of the Wind River Formation, similar to the main roll system successfully mined to the east.

Strathmore Plus Uranium (TSX: SUU, OTCQB: SUUFF) announced a significant extension in the mineralized trend at its Agate project in Wyoming. The Phase 1 drilling, encompassing 100 exploration holes, extended the Lower sand's northern trend to 3,700 feet in length. Notable results included 7.5 feet of 0.128% eU3O8 from 103.5-110.0 feet, 15 feet of 0.116% eU3O8 from 82.5-97.5 feet, and 16 feet of 0.067% eU3O8 from 87.5-103.5 feet. Five piezometer wells were completed for groundwater testing, with additional core recovery planned for the summer. The drilling also discovered shallow mineralization in the Middle sand, which has historically produced most of the uranium in the Shirley Basin district. The project area has been expanded by staking 18 new mining claims, bringing the total to 85 claims.

Strathmore Plus Uranium (TSXV: SUU, OTCQB: SUUFF) has appointed Mr. Marion Loomis to its Board of Directors. Mr. Loomis brings a wealth of experience with 38 years at the Wyoming Mining Association, where he served as both Assistant Executive Director and Executive Director. He has played a vital role in reducing uranium severance tax from 41% to 0% in 1989, now at 4%. A University of Wyoming Geology graduate, Loomis has been instrumental in advocating for mining industries in Wyoming. His extensive network and expertise in mining policy are expected to significantly benefit Strathmore.