Properties
The Matoush-North Property
The Matoush-North Property is comprised of 59 claim blocks (approximately 3,100 hectares). It is located roughly 10km to the northeast of Strateco's Matoush uranium deposit and is abutted on its entire western margin by the southernmost portion of Consolidated Pacific Bay Minerals' "Rabbit Ears" property. Strateco has selected Pacifc Bay's "Rabbit Ears" area as its first drill target of a joint venture option agreement with the company announced on October 29, 2007. The property is bounded on its entire southern margin by the 52nd parallel, and is not adjoining any claims on its northern or eastern margins.
The Otish-Tichegami Property
The Otish-Tichegami Property is comprised of 256 claim blocks (approximately 13,500 hectares). Portions of these claims have been owned variously by Ashton, Soquem, Uranerz, and Ditem. The property is located due north of Strateco's Matoush uranium deposit, and roughly 5km directly south of the Eastmain Gold deposit. The property's eastern and southeastern margin run in contact with the Melkior-Santoy Otish West uranium joint venture, and the easternmost third of the property is transected by the Eastmain winter road. The northwestern margin of the property is not currently abutted by any existing claims.
The 231-claim Ridgestake Properties
The 231-claim Ridgestake Properties lie in the southwestern portion of the Otish basin. The Ridgestake 1-5 properties (roughly 10,000 hectares) are located directly south of Cameco Corp.'s 100-per-cent-owned claims located on the southern margin of the basin. Ridgestake 1-5 is abutted to the west by Dios Exploration and is roughly 18 kilometres west-southwest of the Cami River deposit controlled by UEM (jointly owned by Areva and Cameco). The Ridgestake properties are bisected by the Eastmain winter road.
Ridgestake 6 (roughly 2,200 hectares) is located approximately 15 kilometres northeast of the Cami River deposit, abutted on its northern margin by claims held in a Golden Valley Mines Ltd./Lexam Explorations Inc. joint venture located in the central portion of NTS grid 22M13.
Otish Basin
The Otish basin is being actively explored for uranium most notably at the Matoush Project where Strateco Resources Inc. has recently announced drill hole intersections of up to 2.13% U3O8 over 15.2m (Strateco Press Release: February 20, 2007). The Matoush fault-type uranium is closely linked to a regional fault that appears to have acted as conduit for uranium bearing fluids. The mineralization generally occurs along the margins of the fault in a highly-fractured and latered environment adjacent to vertical gabbro dykes emplaced within the fault. The uranium mineralization found at Matoush lies well above the basin rim and resembles "Perched bodies" found above the McArthur River and Cigar Lake uranium deposits in the Athabasca basin. The most common uranium mineralization in the Otish Basin is epigenetic with a dominant structural control. The best examples are the Matoush showing in the westcentral part of the basin (currently owned by Strateco), and the Beaver Lake showing (owned by Uranerz, now COGEMA).
Euro Property
The Euro property covers the southwest margins of the Paskwati Proterozoic sedimentary basin which is an outlier located 45 km southwest of the main Otish Basin.
Tonka Property
The Tonka property is underlain primarily with the underlying granite complex along the southern margin of the basin. It is also cut by a major northeast-trending fault.
Gateau Group of Properties
The Gateau Group of properties is located in the western part of the Otish Basin and along its southern contact with the Archean basement rocks. The property consists of four (4) claim blocks: Gateau 1, Gateau 2, Gateau 3, and Gateau 4. Gateau 1 and 2 lie within the Otish Basin and are surrounded by Ditem's Otish Uranium property; Gateau 3 is at the southern edge of the Otish Basin adjacent to Cameco's Camie River property; and Gateau 4 lies within the Otish Basin, east of Strateco's Matoush property. The Gateau property straddles an unconformable contact with the underlying granitic complex and offers good potential for classic unconformity-type uranium mineralization both below and above the unconformity surface. At present, Gateau 3 appears to be one of the best areas on the Gateau property in terms of uranium potential. Drilling on this claim block intersected mafic volcanic rocks and graphitic and sulphide-rich structures near the unconformity with the Otish Basin. On Cameco's adjacent property, graphite is known to be spatially associated with uranium at the Camie River occurrence (0.52% U3O8 over 7.5m, 15.5% U3O8 over 0.5m, and 0.7% U3O8 over 1m). Mafic volcanic rocks are marked by a major E-W magnetic anomaly that transects all of Block C.
