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Strathmore Plus Energy ( (TSE:SUU) ) has shared an announcement.
Strathmore Plus Uranium is advancing its Agate uranium project in Wyoming with a new 2026 exploration drilling campaign set to begin in mid-April, following a successful 2025 program in which about 95% of 45 drill holes intersected uranium mineralization and expanded key mineralized sand trends. The company plans to drill up to 50 additional holes to extend known trends, confirm historical Kerr-McGee work, and support permitting and development, while also strengthening its balance sheet through a $650,000 debt settlement paid in shares, including amounts owed to insiders, which may modestly dilute existing shareholders but reduces outstanding liabilities and aligns management with project progression.
Located in the historically productive Shirley Basin, the Agate project benefits from shallow mineralization considered amenable to in-situ recovery and from proximity to other major uranium operators, potentially enhancing its strategic value as Strathmore refines the geological framework and moves toward a Plan of Operations. The combination of ongoing lab assays, extended drilling, and capital structure cleanup positions the project more competitively in the uranium sector and could influence stakeholder expectations regarding future resource definition and development milestones.
More about Strathmore Plus Energy
Strathmore Plus Uranium Corporation is a uranium exploration and development company focused on in-situ recovery projects in the Shirley Basin Uranium District of central Wyoming. Its flagship Agate property comprises 124 wholly owned lode mining claims over roughly 2,560 acres, targeting shallow, Wyoming-type roll-front uranium mineralization historically explored by Kerr-McGee and proximate to projects owned by Cameco, UEC, and UR-Energy.
Average Trading Volume: 50,797
Technical Sentiment Signal: Sell
Current Market Cap: C$9.92M
See more insights into SUU stock on TipRanks’ Stock Analysis page.