Hathor Commences Drilling at Its Midwest Northeast Project
Tue Jan 20, 8:45 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2009) - Hathor Exploration Limited (TSX-V: HAT.V) is pleased to announce that all four diamond drill rigs mobilized to its 90% owned Midwest NorthEast uranium property are now drilling.
Sixty holes totaling about 22,000 metres are planned for the winter 2009 drill program with the objective of extending and further defining the Roughrider Zone uranium mineralization which Hathor discovered in February of 2008. Team Drilling LP of Saskatoon, Saskatchewan, is providing drill equipment and services.
Previous to this winter 2009 drill program, Hathor completed 45 drill holes totaling 16,856 metres on the Midwest NorthEast property. To date, highlights of Roughrider Zone U3O8 assayed core-length intervals(i) (using a cut-off grade of 0.05 per cent U3O8) include the following:
- 11.9 metres grading 5.29 per cent U3O8, including 0.2 metres at 40.20 per cent U3O8, in DDH 08-12;
- 15.0 metres grading 10.02 per cent U3O8, including 2.0 metres at 43.85 per cent U3O8, in DDH 08-20;
- 9.0 metres grading 10.06 per cent U3O8, including 3.0 metres at 22.72 per cent U3O8, in DDH 08-21;
- 5.0 metres grading 3.58 per cent U3O8, including 1.5 metres at 10.85 per cent U3O8, in DDH 08-21;
- 9.5 metres grading 2.60 per cent U3O8, including 2.0 metres at 10.39 per cent U3O8, in DDH 08-28;
- 69.0 metres grading 2.33 per cent U3O8, including 9.0 metres at 10.54 per cent U3O8, in DDH 08-30;
- 6.5 metres grading 20.41 per cent U3O8 in DDH 08-32;
- 46.0 metres grading 3.25 per cent U3O8, including 7.0 metres at 11.99 per cent U3O8, in DDH 08-33;
- 6.5 metres grading 8.93 per cent U3O8 in DDH 08-34;
- 18.0 metres grading 4.15 per cent U3O8, including 9.0 metres at 8.22 per cent U3O8, in DDH 08-37;
- 23.0 metres grading 11.23 per cent U3O8, including 7.0 metres at 28.14 per cent U3O8, in DDH 08-40.
(i) The reader is cautioned that all intersections reported are down-hole core-length intervals, and true thickness of mineralization is yet to be determined.
Hathor's management believes that the Roughrider Zone remains open in all dimensions and that, in particular, the potential for classic, unconformity style uranium mineralization occurring at or above the sub-Athabasca unconformity (as suggested by detailed resistivity and gravity geophysical surveys) remains untested. Vertical depth to the unconformity is approximately 210 to 215 metres. The high-grade uranium mineralization encountered in these drill holes occurs in basement rocks that are a heterogeneous mix of variably clay-altered to clay-replaced pelitic gneiss, graphitic pelitic gneiss, granitic pegmatite and microgranite.
For a complete list of assay results and a drill hole location map, please visit Hathor's website at: www.hathor.ca.
Drill core samples will be submitted for U3O8 analyses at the geoanalytical laboratories of the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan, that operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples will be analyzed using ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality controls include the insertion of certified reference materials applicable for the ranges of mineralization encountered and duplicate samples. In addition to the laboratory duplicates, reject repeat analyses will be performed. All samples will also be analyzed for a suite of other elements including nickel, cobalt, copper and lead. Assay results will be released by Hathor as they are received from the SRC.
Points North Landing, a regional service centre to the eastern Athabasca region, is located about eight kilometres from Hathor's Midwest NorthEast property, and the modern, AREVA-operated McClean Lake uranium mill facilities are located approximately 11 kilometres to the east.
Terra Ventures owns a 10% carried interest in the Midwest NorthEast property.
With capital resources of approximately $35 million, Hathor continues to aggressively advance its portfolio of Athabasca region uranium exploration projects. This area accounts for approximately 23 per cent 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.
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.
Contacts
Stephen Stanley
Hathor Exploration Limited
(604) 684-6707
Tony Nunziata
Hathor Exploration Limited
(403) 560-7040
Website: www.hathor.ca |
