Strateco Resources also recently made the required option payments to Pacific Bay ($100,000 and 40,000 shares of Strateco Resources) and has now completed the required $750,000 work commitment to keep the option in good standing for the coming year. Strateco Resources has an option to acquire up to 60% interest in a large package of Pacific Bay mineral claims in the Otish Region.
Otish Drilling Results. Strateco Resources’s most recent drilling campaign tested two areas of interest on Pacific Bay claims: four holes on a possible northern extension of the Matoush Fault; and, three holes on the TQ-4 anomaly, around three kilometer east of the Matoush Deposit. Although the four holes tested the northern extension of the Matoush Fault or possible offsets as determined by geophysical anomalies, none encounter the projected structure or evidence of cross-faulting. Although core assays have not yet been received, no significant radioactivity or alteration has been noted to date. Reviews of trace element geochemical and geophysical data will aid significantly to propose new targets in the area.
Three drill holes tested the TQ-4 anomaly, which is the location of north-easterly trending EM conductors in proximity to an area of numerous radioactive boulders. None of these holes intersected radiogenic features.
