Hathor Exploration Limited
TSX VENTURE : HAT

Hathor Exploration Limited
Forum Uranium Corp.
TSX VENTURE : FDC

Forum Uranium Corp.

December 01, 2009 09:00 ET

Forum and Hathor Prepare for $1.65 Million Drill Program on the Henday Project, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2009) - Forum Uranium Corp. (TSX VENTURE:FDC) and Hathor Exploration Limited (HAT:TSX-V) have preparations well underway for the January drill program and geophysical survey on the Henday Lake project in northern Saskatchewan. 

  • 4,500 meter drill program, 18 holes planned
  • $1.65 million budget approved
  • On trend with Areva's Midwest Lake deposit and Hathor's Roughrider Zone. 
  • Shallow drill targets, average depth of 160 meters
  • Amenable to open pit mining

The 7,204 hectare Henday project is located 10 km northeast of Hathor's Roughrider zone where recent drill results have reported 28 m of 12.71 % U3O8 with assays up to 82 % U3O8 (see Hathor News Release dated Sept. 12th, 2009), and the Midwest Lake mine development project owned by AREVA/Denison, (41 million lbs. U3O8 at an average grade of 5.5%). It is Forum's objective to locate similar deposits on this strategically located property.

Figure 1: Location Map of the Henday Project.

To view Figure 1 please visit the following link: http://media3.marketwire.com/docs/hatfigure1.gif

The ellipse shows the planned drill area (Mallen Lake). The drill program will be concentrated along a N70 structure that shows promising gravity lows (see Figure 2) which have been used successfully in identifying the Roughrider Zone.

Permit applications have been submitted and a contract signed with TEAM Drilling for approximately 4,500 metres slated to start in January of 2010. In addition to drilling, a geophysical survey consisting of IP Resistivity and gravity along another high priority structure is planned in preparation for possible drilling in 2011. 

Figure 2: Contoured gravity and EM, Henday Lake Project.

To view Figure 2 please visit the following link: http://media3.marketwire.com/docs/hatfigure2.gif

The reds are gravity highs, the blues are gravity lows, and the white lines are graphitic conductors. Drill targets are outlined by the red ellipses. The existing illite anomaly, discovered by drilling at Mallen Lake in 2008, is located in the northeast corner of the survey.

The 2010 exploration program is being funded 100% by Hathor Exploration as part of their earn-in process. The 2010 exploration program, upon completion, will bring Hathor's ownership of the project to 40%. Under terms of the option, Hathor must spend $3.5 million in exploration over three years to earn a 60% interest in the project. 

Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.

For more information on Hathor, please visit the company's website: www.hathor.ca.

Hathor Exploration Limited
Stephen G. Stanley, Director

Neither 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 Information

  • Hathor Exploration Limited
    Tony Nunziata
    403-560-7040
    or
    Hathor Exploration Limited
    JJ Jennex
    604-684-6707
    www.hathor.ca