Strateco has announced that it has found more uranium deposits near Chibougamau in the form of a high-grade lens 1.5 km south of the three known high-grade lenses at the Matoush Project.

According to the company, on November 2 exploration of Hole MT-10-011 was completed and the presence of the new MT-36 lens was confirmed.

In a press release, Strateco CEO and President Guy Hebert stated, “The discovery of a new high-grade uranium lens (MT-36) outside the known uranium-bearing area is extremely important, because it shows that, just as we had always thought, the Matoush Project has the potential to become a world-class uranium mining camp.”

Whether the project will ever become an actual mine is still contingent on the approval of residents in nearby Mistissini and Chibougamau who will be engaged in hearings on the exploration project from November 23-25.