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Wednesday, February 15, 2006

Strathmore (STHJF) Church Rock permitting: on schedule and under budget

Strathmore issued a press release saying they are...

...pleased to update shareholders that the permit application process on its Church Rock uranium property is progressing on schedule and under budget.

Strathmore's Church Rock property comprises two sections of unpatented mining claims on land owned by the United States Federal Government. It is administered by the Federal Bureau of Land Management. The property is located south of the Navajo Reservation boundary. The land does not constitute a dependent Indian community, under either U.S.C. 1151 or by the test case outlined in the United States Supreme Court decision of "Alaska vs Native Village of Venetie Tribal Government," 522 U.S. 520 (1998).

Strathmore's Church Rock property is located adjacent to HRI's proposed Crownpoint uranium extraction project. In January 2006, the Atomic Safety and Licensing Board (ASLB) concurred with the Federal Environmental Impact Statement, further demonstrating that HRI's proposed uranium extraction operations are within regulatory limits and do not pose a health and safety hazard. This significant decision has positive implications for Strathmore's Church Rock permit application.

Strathmore continues to be committed to a coordinated development process that will work closely with all levels of government, regulatory agencies and the public as we proceed with our mine development plans. Strathmore currently plans to develop its mineral resource at Church Rock using environmentally friendly in-situ extraction, or sodium bicarbonate solution mining, techniques that have been globally proven over the past three decades to minimize impacts to human health and the environment.

So they plan to poison the noble Native American land with baking soda! If you're not familiar with in-situ mining techniques, it's really interesting stuff. Very environmentally friendly compared to the alternatives.

UPDATE same day:
Pat pointed out to me that this is a really just a distress release. He's correct.

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