Hathor Exploration Limited

Hathor Exploration Limited

April 30, 2008 16:00 ET

Hathor Exploration Limited: Gravity & Resistivity Surveys Increase the Size of Roughrider Zone Target

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Hathor Exploration Limited (HAT-TSX.V) announces that its latest exploration model for Roughrider Zone uranium mineralization at the Midwest NorthEast Property indicates that the Zone trends east-northeast and that gravity and resistivity data strongly indicate drill targets to the east of the currently-known mineralized area. Based on current knowledge of unconformity-related uranium mineralization in the Athabasca Basin and Hathor's geophysical data, it appears that significant targets exist in a continuous zone extending at least 300 metres to the east of the currently-defined Roughrider Zone.

At the Midwest NE property, Hathor has identified coincident gravity and resistivity lows that are associated with uranium mineralization of the Roughrider Zone. Please see maps posted at www.hathor.ca.

Hathor's new exploration model shows the primary drill target is the intersection of the basement-hosted uranium-bearing structures and the unconformity. The centre of this target, located approximately 90 m ENE from the mineralization in discovery hole MWNE-08-12, has not yet been tested and will be the subject of a drill program scheduled to start in June of 2008.

To date, geological exploration of Hathor's 90%-owned Midwest NorthEast property has included geochemical analysis and re-logging of historic drill core including the determination of clay alteration patterns by shortwave infrared reflectance spectroscopy ("PIMA"). Interpretation of this geological information, together with ground and airborne geophysical surveys (including 3D seismic, magnetic gradient and total magnetic field data) lead to the development of a preliminary exploration model that resulted in the discovery of the Roughrider Zone uranium mineralization (see Hathor News Releases dated February 26th and March 3rd, 2008).

Key geological features associated with the footprint of an unconformity-style uranium deposit (e.g. alteration zones) or those that control the location and distribution of mineralization (e.g. the geometry of fault zones, particularly cross-cutting structural features where they intersect the unconformity) have been revealed by Hathor's Roughrider discovery drill program. These have now been augmented by 3D inversions performed on recently completed, high-resolution surface gravity and resistivity data collected in the vicinity of the Roughrider discovery.

Alteration zones that envelope unconformity-associated uranium deposits are characterized by variably developed argillitization, chloritization, silicification, desilicification, and hematization and can be mapped by resistivity and gravity geophysical surveys. At their McArthur River and Cigar Lake mines, Cameco Corporation and AREVA Resources Canada Inc. have shown that zones of low gravity and low resistivity have been very effective at identifying the presence of desilicification and/or clay alteration haloes caused by long-lived hydrothermal systems associated with fault zones (structures) within the basement and/or the basinal sandstones.

The incorporation of Hathor's geophysical data, and geological and geochemical information from the recent discovery drill program, into the already extensive and innovative database has provided a critical new understanding of the Roughrider Zone and its as yet untested expression where it intersects the unconformity.

A NI 43-101 report outlining the geology of the nearby (located about 1,800 metres from the Roughrider Zone), AREVA-controlled Midwest A ("Mae") Zone, states: "The mineralized structures also exhibit structurally controlled roots that go well down into the basement (as far as 70m beneath the unconformity). It was noted during the drill programs that if a mineralized graphitic structure was intersected in the basement, it could be followed up into the overlying sandstone where it would always produce a zone of strong mineralization. This is illustrated by hole MW-703, which intersected 2.2 meters at 0.3% Eu approximately 20 meters beneath the unconformity. This led to the follow-up hole MW-706, which returned the best results of the summer 2006 program."

Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property.

Benjamin Ainsworth, PEng, 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 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.

Contact Information

  • Hathor Exploration Limited
    Stephen Stanley
    (604) 684-6707
    Hathor Exploration Limited
    Tony Nunziata
    (403) 560-7040
    Website: www.hathor.ca