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Hathor Exploration Limited (HAT:TSX-V) is pleased to announce that
the winter diamond drill program is underway at its Russell Project in the
southeastern part of the Athabasca Basin in northern Saskatchewan. Drilling
will follow-up on uranium intersected at Christie Lake in the fall of 2010,
and it will test the nearby Fox Lake and M Zone Extension target areas.
Ground geophysics (gravity) will also be carried out this winter, on the
target named 'Key Lake Trend' located in the southern part of the Property.
Drilling and geophysics will continue until April, for the duration of the
winter season.
Diamond Drilling
Diamond drilling is the focus of the 2011 winter program. Drilling will be
carried out in the northwestern part of the Russell property. Figure 3 shows drill hole locations within the
Christie Lake, M Zone Extension and Fox Lake target areas. The two holes at
Christie Lake will be drilled at the start of the 2011 winter program,
followed by drilling at Fox Lake, which targets basement geologic features
(quartzite ridge) extending northeasterly from the recently discovered
Pheonix deposit. Drill holes will be completed at M Zone Extension pending
results from the first two target areas, and the length of the winter drill
season.
Drill holes at Christie Lake follow-up hole last fall's drill hole CL-10-03
which intersected an occurrence of visible pitchblende mineralization
occurring as disseminations and fracture linings within an intensely
Ca-P-REE-rich, hematite-altered pegmatite in basement rocks some 60 m below
the unconformity (see photo on website). Drilling this winter will move
further up-section, and further into the core of the regional magnetic low
(Figure 4).
Drill targets at Fox Lake (FLT) and M Zone Extension (MZE) integrate a wide
range of data, including a Transient magnetotelluric survey (AMT) completed
last fall (24.2 line-km on 12 lines at FLT and 26.8 line-km on 12 lines at
MZE). Drilling at Fox Lake this winter will specifically target changes in
resistivity and gravity patterns in relation to the northeasterly grain of
basement and magnetic features.
Ground Geophysics
The entire property is covered by numerous airborne geophysical surveys,
augmented locally by ground geophysics, including gravity, resistivity, and
electromagnetics (EM).
A priority target area for the Russell Property is named the Key Lake trend.
Basement geology and airborne magnetic trends trend northeasterly from the
Key Lake uranium mine through the southern part of the Russell Property (Figure 1 and Figure 2). A ground gravity survey will be conducted this winter, roughly
within the target area outlined by the white box northeast of Key Lake in
Figures 3 and 4. This work will help identify specific targets for future
drilling.
Regional Context
Please visit the Company's website at www..hathor.ca for a related set of regional-scale maps.
The Russell property is within the Wollaston-Mudjatic magnetic low
transition zone, commonly referred to as the eastern corridor of the Athabasca Basin.
This corridor accounts for 100% of current uranium production in Canada,
and it has consistently contributed between 20 and 30 % of global primary
uranium supply for the past 30 years. Looking forward, the greatest
endowment of proven resources for future production within the Athabasca is
within the eastern
corridor, in the region immediately surrounding Russell Lake.
The south end of the property is 15 km northeast of the Key Lake mine/mill
complex. The northern end is 12 km southeast of the McArthur River mine.
The Phoenix deposit now estimated at 39 M lbs by Denison Mines is
immediately west of the central part of the Russell Lake property.
Drill targets at Russell Lake are based on the integration of recent
geophysical surveys, updated regional geological surveys, and synthesis of
historical work, as summarized on the Company's website at www.hathor.ca. The Property is vastly underexplored and has seen little previous
drilling relative to surrounding areas. Targets generated during data
compilation in 2010 are for the most part untested, enhancing the overall
exploration potential of Russell Lake.
Property Description
The Russell Project covers both of the properties historically referred to
as Russell Lake and South Russell. Combined, the properties cover
approximately 71,670 ha in one contiguous block of 23 claims. Hathor
controls 100% of the Russell Lake property (45,742 ha), following the
successful acquisition of Northern Continental Resources (see News Release
dated November 23, 2010). The South Russell property is owned 90% by
Hathor, with a cumulative 10% interest held by two parties, and carried to
completion of a feasibility study.
Russell Lake has excellent infrastructure. The McArthur River - Key Lake
haul road and associated power line run along the western margin of the
property. The exploration camp is road-accessible all year round.
Alistair McCready, Ph.D., P.Geo., Hathor's Exploration Manager with
responsibility for all of Hathor's exploration in Saskatchewan, and Michael
Gunning, Ph.D., P.Geo, Hathor's Chief Operating Officer, are Qualified
Persons as defined by National Instrument 43-101 and have reviewed and
approved the technical disclosure contained in this news release.
For more information on Hathor, please visit the company's website: www.hathor.ca or contact Tony Nunziata at 403-560-7040 or Kelsea Murray at
604-684-6707.
______________________________
Stephen G. Stanley,
President & CEO
Hathor Exploration
Limited
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Figure 1. Basement geology map inferred for the southeastern part of the
Athabasca Basin
(from Saskatchewan Energy and Mines). Solid black line outlines Russell
Property.
White polygons outline target areas for detailed uranium exploration. A
ground gravity
survey will be done in the area northeast from the Key Lake uranium mine.
Figure 2. Airborne magnetic map of the southeastern part of the Athabasca
Basin
(from Saskatchewan Energy and Mines). Solid black line outlines Russell
Property.
White polygons outline target areas for detailed uranium exploration. A
ground
gravity survey will be done in the area northeast from Key Lake. Black
lines are
major structural trends. Green lines are conductors.
Figure 3. Map of the northwestern part of the Russell property, showing the
location
of possible drill hole location within the Christie Lake, M Zone Extension
and Fox Lake
target areas. The two holes at Christie Lake will be drilled first to start
of the 2011
winter program, followed by drilling at Fox Lake. Drill holes will be
completed at M Zone
Extension pending the length of the winter drill season, and results from
the first two
target areas.
Figure 4. Resistivity map, 290 m depth slice, for the area drilled in the
fall of 2010
within the Christie Lake target area. Two drill holes will be completed
during the
2011 winter program to follow-up uranium mineralization intersected in hole
CL-10-03,
and more fully test the core of the resistivity low anomaly.
You can also view this News Release on our website at:
http://www.hathor.ca/s/NewsReleases.asp?ReportID=438094
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