Hathor Receives Permits and Secures 2 Drill Rigs for Midwest
NorthEast Uranium Project
Hathor
Exploration Limited is pleased to announce that it has received surface
exploration permits from Saskatchewan Environment, allowing Hathor to proceed
with a diamond drill program on its 90% owned Midwest NorthEast uranium
property located in the Athabasca
Basin
of northern Saskatchewan.
24 drill holes
totalling about 8,000 metres are planned and two diamond drills will be
mobilized to the Midwest NE property by Boart Longyear Inc., a global drilling
company that is also a primary drill services provider for both Cameco
Corporation and AREVA Resources Canada Inc.
To the
immediate southwest of Hathor’s Midwest NE project is the Midwest property of AREVA, 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.
Hathor has finished the primary interpretation of 249 line kilometres
of innovative, 3-D seismic reflection data and integrated it with other geophysical
survey data from the Midwest NE property. As a result of this detailed work,
Hathor has defined what is interpreted to be an extension of the primary
structure associated with the Mae Zone mineralization onto the Midwest NE
property and it is in this area that the majority of Hathor’s drilling is
planned
In
addition to the Midwest deposit uranium resources, exploration by AREVA
resulted in the 2005 discovery of the Mae Zone, approximately three
kilometres northeast of the Midwest deposit and about 900 metres from Hathor's Midwest
NE
property boundary. At their Mae Zone,
drill results grading as high as 14.6 metres of 26.70% U3O8
have been reported. Peter Farmer, CEO of Denison recently stated that:
"The infrastructure for the Midwest project – roads, power, water
treatment and mill expansion – will also be beneficial for the
development of the adjacent Mae Zone,
which has significant expansion potential as was confirmed this summer by
drilling that revealed a new high-grade structure."
Points North
Landing, a regional service centre to the eastern Athabasca 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.
With capital
resources in excess of 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.
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.
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