Midwest NorthEast Project Update
Hathor
Exploration Limited (HAT–TSX.V) announces that it has encountered
anomalous uranium mineralization during its winter 2007/2008 Midwest NorthEast
project drill program. The mineralization occurs in hole MWNE-08-12, the 12th
hole of a planned 24-hole program.
Natural gamma emission
radiation in drill core was measured in counts per second (cps) using an Exploranium
GR-110G gamma-ray scintillometer. Drill core from hole MWNE-08-11 intersected a 20 cm
thick zone of elevated radioactivity, ranging from 800 to 1200cps, compared to
a background of 100-200 cps.
In drill hole MWNE-08-12, the
sandstone column is moderately-fractured throughout the lower portions (depths
>130m) with discreet zones of strong- to intense-fracturing. The basal
conglomerate is highly-fractured from 220-226m with up to 25% core loss over
the interval.
The unconformity occurs at 226m
(uncorrected depth), with a 1m thick interval of virtually pure clay lying
immediately beneath the unconformity.
The basement rocks occurring
immediately beneath the unconformity (uncorrected depths from 227 to 242.5m)
show evidence of variable clay alteration to clay replacement, but without any
significantly elevated radioactivity with the host rock being a heterogenous
mix of pelitic gneiss, graphitic pelitic gneiss, granitic pegmatite and
micro-granite.
The
first interval of elevated radioactivity measured from drill core is at 242.5m
(1000 to 3000 cps) and increased radioactivity continues throughout the drill
core until 273.3m. However, the amount of radioactivity over this interval is
highly-variable. It can be summarized as a zone of approximately 30 metres of elevated
radioactivity (1000-1500 cps) with discreet zones of highly-radioactive (5000
cps to >9999 cps (off-scale)) intervals including 244-245.5m;
252-255.8m; 262.4-264.1m; 265.4-270m; and 271-273.3m. The zone also
contains intervals of background radioactivity (200-500cps) from 245.5-252m and
255.8-261m. The geology of the mineralized interval comprises extremely-clay
altered to clay replaced graphitic pelitic gneiss, pelitic to psammopelitic
gneiss, and leucogranite. Hole MWNE-08-12 ended
at 331m.
Because
of the nature of the relatively high-grade mineralization and the corresponding
often poor core recovery in such mineralized zones, the standard operating
procedure is to use a down-hole probe to obtain a radiometric log, with
measurements taken through the drill rods, whereby grade equivalents can be
calculated for a drill hole. Due to the highly-radioactive nature of some of
these intervals, the signal from a single crystal gamma-ray downhole
radiometric probe is saturated throughout parts of the zone. A second probe was
used to verify the high-grade nature of some of the intervals and results are
currently being processed and will be used for future comparison to chemical
results.
Drill
core samples from the uranium mineralized section of the core have been
submitted for analyses to the Geoanalytical Laboratories of the Saskatchewan
Research Council (SRC), with facilities operating in accordance with ISO/IEC
17025:2005 (CAN-P-4E) general requirements for the competence of mineral
testing and calibration laboratories. Chemical results will be released when
received.
Benjamin
Ainsworth, P.Eng., a director of the company and a qualified person as defined
by National Instrument 43-101, has reviewed and approved the technical
disclosure contained in this news release.
Hathor’s 90%-owned Midwest
NE project is located in northern Saskatchewan’s Athabasca
Basin immediately adjacent to the Midwest property of AREVA Resources Canada Inc., Denison
Mines Corp. and OURD Canada Co. Ltd. There, subject to regulatory
approvals, mine site construction is slated to begin in mid-2009 and open-pit
mining of a shallow (depth of about 200 metres) orebody that grades 5.47 per
cent U3O8, 4.37 per cent nickel and 0.33 per cent cobalt
is planned for early 2010. Points North Landing, a regional service centre to
the region, is located about eight kilometres from Hathor's Midwest
NE property and the modern, AREVA-operated McClean
Lake uranium mill
facilities are located approximately 10 kilometres to the east.
Terra
Ventures (TAS-TSXV) owns an 8% production carried interest in the Midwest
Northeast Property.
The
current winter exploration program includes about 8,000 metres and utilizes two
diamond drills contracted from Boart Longyear Inc., a global drilling
company. Hathor has now completed in excess of 3,300 metres of diamond
drilling in 12 of a planned 24 NQ-sized diamond drill holes. Holes
completed to date are a combination of vertical and angled holes that dip
approximately 70 to 80 degrees to the NW or NNW. Uncorrected depth to the
unconformity ranges from about 200 to 226 metres.
With
capital resources of approximately Cdn $20 million, Hathor continues to
aggressively advance its portfolio of eleven Athabasca
region uranium exploration projects. This area accounts for approximately 25%
of the world's annual mine production of uranium. All of this production comes
from unconformity-style uranium ore deposits, the highest-grade uranium ore
deposits in the world.
For
more information on Hathor, please visit the company's website: www.hathor.ca or contact Stephen
Stanley at 604-684-6707.
Hathor Exploration Limited
Stephen G.
Stanley, Director
The
TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release.
Cheers,
Natasha
Dutra, Office Manager
Hathor Exploration Limited
Suite 1910 -
925 West Georgia St.
Vancouver, BC V6C 3L2
T 604-684-6707
F 604-684-9277
www.hathor.ca