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The Marquez Property comprises 14,582 acres (~ 5,900 Ha), and includes the western extent of the historically known Marquez/Bokum ore body. The property was previously explored during the 1970s and 1980s by Kerr-McGee Resources Corporation, which at the time was one of the largest uranium mining companies in the world. Kerr-McGee drilled in excess of 390 exploratory drill holes (>800,000 feet total drilling) on the main property. In the late 1970s development of the Marquez mine began. Conventional underground production was expected to begin in the early 1980s and the Bokum mill was constructed approximately one mile away on an adjoining property. The Marquez project was abandoned and the mill was subsequently dismantled when demand for uranium and the uranium price declined in the 1980s.
In June 2010, Strathmore completed and SEDAR filed a National Instrument 43-101 technical report for the Marquez property. The Marquez Property is a non-core project that is available for joint venture or sale.
Marquez, New Mexico: NI 43-101 Compliant Resource Estimates
|
| Location |
Previous Operator/Source
(Date of Resource Estimate) |
Resource
Classification |
Tonnage |
Grade % U 3O 8 |
lbs/U 30 8 |
| Marquez, New Mexico |
Kerr McGee (1977)
HM. Alief, 43-101 (2010) |
NI 43-101 Measured
NI 43-101 Indicated
NI 43-101 Measured + Indicated
NI 43-101 Inferred |
999,000
2,612,000
3,611,000
2,160,000 |
0.13
0.13
0.13
0.11 |
2,512,000
6,618,000
9,130,000
4,907,000 |
The NI 43-101 resource estimates presented in the above table were taken from the NI 43-101 report entitled "Marquez Uranium Property, McKinley and Sandoval Counties, New Mexico, National Instrument 43-101 Mineral Resource Report", dated June 10, 2010, and prepared by M. Hassan Alief, C.P.G., AIPG 11134, a qualified and independent person under National Instrument Policy 43-101. It should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability as defined by the NI 43-101 guidelines. The technical information in the above table has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by David Miller, Chief Executive Officer for Strathmore Minerals Corp., PG 363 Wyoming and Society for Mining, Metallurgy & Exploration Registered Member 2205106RM, a Qualified Person under National Instrument 43-101.
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