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Hathor Exploration Limited (TSX VENTURE:HAT - News) is pleased to provide
the final chemical assays for its 2010 summer drill program on it's Midwest Northeast Property, Athabasca Basin,
Saskatchewan. Key results include:
-- high grade intersections at Roughrider East which extend the strike
length of deposit to 160 m, including a high grade core over 100 metres.
-- The Roughrider deposit itself has been bolstered by new mineralization
intersected outside the extents of the recently upgraded resource of 28
Mlbs U3O8 including 24 M lbs at 11.7% U3O8 average grade (see News
Release dated Nov. 30, 2010). The extension is not material.
Roughrider East was not included in the
recent resource update for the Roughrider deposit itself, and it represents
significant upside potential for the overall resource of the Midwest North
East property.
Aggressive delineation drilling will
continue this winter, on the heels of two of the largest drill programs
completed in the Athabasca last year (44,370 metres
drilled in 129 holes). Figure 1 is a schematic representation of the overall
potential on the Property. Drilling this winter will focus on in-fill and
extension drilling at Roughrider East, and follow-up drilling of alteration
intersected to the northeast of Roughrider, and south of Roughrider East,
along a 700 m resistivity anomaly.
RESULTS
Three rigs completed 18,840 m in 52
holes during the 2010 summer program (Figure 2). Summaries including
down-hole gamma probe results have been release previously for all drill
holes. This News Release provides summary chemical assay data in (Table 1)
for all mineralized drill holes at Roughrider East, excluding drill hole 648
which was previously reported (see News Release dated Oct. 21, 2010), and in
Table 2 for infill drilling at Roughrider Main East.
All figures and tables in this News Release
are also available on the Company's website at www.hathor.ca.
Roughrider East Highlights Reported
Herein:
- Line 60 West (40m West of Hole 648)
(Figure 3)
MWNE-10-656A: 10.5% U3O8 over 16.5 m
including: 22.0% U3O8 over 7.0 m
Overall, 4 mineral zones over 51 metres of altered rock
- Line 40 East (60 m East of Hole 648)
(Figure 4)
MWNE-10-649 : 3.3% U3O8 over 14.5 m
Overall, 8 mineral zones within 150 metres of altered rock
Previously released intersections from
Roughrider East are shown on the following page. Together with the new
results, they confirm 160 m of strike potential at Roughrider East (Line 100
West to Line 60 East), sill open in both directions (Figure 5). Photographs
of massive pitchblende and semi-massive pitchblende-hematite worm rock have
been released previously and are available on the Company's website at
www.hathor.ca.
Summary of Select Holes from Roughrider
East
- Line 100 West
MWNE-10-629: 1.2% U3O8 over 9.5 m
- Line 60 West
MWNE-10-656A: 10.5% U3O8 over 16.5 m
- Line 20 West
MWNE-10-648: 7.8% U3O8 over 63.5 m
including: 24.3% U3O8 over 17.5 m
MWNE-10-604A: 9.2% U3O8 over 8.0 m
MWNE-10-608: 5.3% U3O8 over 15.5 m
MWNE-10-609: 3.7% U3O8 over 25.5 m
MWNE-10-610: 22.5% U3O8 over 12.0 m
MWNE-10-612: 11.8% U3O8 over 19.0 m
- Line 40 East
MWNE-10-649: 3.3% U3O8 over 14.5 m
New Results from Roughrider Deposit
Only 19 of 52 drill holes in the 2010
summer program were completed on the Roughrider deposit itself. Objectives
included closing off mineral zones on some lines, and in-fill drilling of
mineralization outlined by widely spaced holes on other lines. Highlights are
shown below.
- Line 50 East (Figure 5)
MWNE-10-230: 0.24% U3O8 over 12.0 m
including: 1.23% U3O8 over 3.0 m
- Line 20 E
MWNE-10-220: 3.91% U3O8 over 7.5 m
- Line 0 E
MWNE-10-227A: 1.23% U3O8 over 15.0 m
- Line 10 E
MWNE-10-240: 1.62% U3O8 over 13.0 m
Drilling from the 2010 summer program
was not included in the updated mineral resource estimate for the Roughrider
deposit (see News Release dated Nov. 30, 2010). Results from the summer 2010
drill holes do not produce a material change, positive or negative, to the
overall estimate of 28 M lbs.
Midwest Northeast Property
Terra Ventures Inc. owns a qualified 10%
interest in the Property, carried to the completion of a positive feasibility
study on the Roughrider Deposit.
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.
Hathor Exploration Limited
Stephen G. Stanley, President
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.
Contact:
Tony Nunziata
Hathor Exploration Limited
403-560-7040
Kelsea Murray
Hathor Exploration Limited
604-684-6707
www.hathor.ca |