Night Owl

Strathmore Plus acquired Night Owl, a former producing Uranium mine in the Shirley Basin Uranium district of Wyoming. Night Owl was formerly mined by Night Owl Properties & Battle Axe Mining Co. producing 93 tons at a grade of 0.24% U₃O₈,which was mined at or near surface in the late 1950s to early 1960s. Production at Night Owl ceased due to low uranium prices ($7), not for lack of resource. Wyoming Uranium LLC, to be acquired by the Company, has strategically staked the core of the Night Owl production and the surrounding areas. The Night Owl area has not been properly explored using modern exploration techniques. Production began without drilling along outcrop exposures in the mid 1950s.

Night Owl was originally discovered by aerial surveys using an aircraft-mounted scintillometer followed by surface radiometric surveys and sampling since the mineralization is at or near the surface (like how most Wyoming basins were originally discovered). The mineralization is located/contained within a brecciated zone lying beneath the unconformable contact that separates the much younger Shirley Basin sediments from the Mississippian Madison Formation (limestone) and the overlying Pennsylvanian-Permian Casper Formation (sandstone). The 7- to 10-foot-thick zone of breccia consists of voids filled with silicious materials containing complex uranium minerals, including uranyl phosphates. Historical documents suggest uranium mineralization upward of 1.0% U₃O₈. Additionally, elevated concentrations of molybdenum, nickel, vanadium, and phosphorous were noted in the historical analysis reports of the Night Owl mineralization.

Battle Axe Mining produced uranium under contract with the Atomic Energy Commission (now the Department of Energy). The Shirley Basin historically produced more than fifty-one million pounds of uranium from the 1960s through the 1990s. Strathmore Plus’s co- founder and technical advisor, John DeJoia, during his tenure at Utah international, oversaw the production of close to 20 million pounds of uranium in the Shirley Basin. The Night Owl project is located in Albany/Carbon Counties, Wyoming, approximately 40 miles southeast of Casper, Wyoming. Other companies in the Shirley Basin area include Cameco, enCore, UEC, and Ur Energy.

Mr. DeJoia stated, “Our latest land acquisition is just a few miles from the heart of the Shirley Basin Uranium Mining District. We at Strathmore Plus have stepped outside the standard – roll front model. Although the model was the basis for our search, history played an even bigger role. We staked a property I had visited in the early 1970s and have been intrigued with it ever since. We learned from the historical records that slightly under a hundred tons of uranium mineralization had been produced here, although we knew little of the area’s geology. Upon staking, our Vice President and Chief Geologist, Mr. Terrence Osier, confirmed the mineralization was mined at or near the surface. Further reconnaissance by Mr. Osier, also confirmed promising geologic conditions in a zone of brecciated material exposed at the surface which underlies the area at shallow depths. We look forward to surface exploration and shallow drilling to substantiate our theories as to the source of the uranium mineralization and it’s potential for future mining.”

First batch of assay results
Uranium concentrations in the four samples tested included 0.326%, 0.283%, 0.226%, and 0.189% Uranium (U). The uranium concentrations are similar to those reported for historically mined ore at the property. Additional metals at notably high concentrations included iron, manganese, phosphorous, and sulfur. Due to accessibility, the highest-grade sample that was tested was one that had a reading of 4800CPS. Further assay results are expected in the coming weeks from samples with off scale Scintillometer readings.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126069