Hathor Exploration Limited

Hathor Exploration Limited

April 25, 2008 08:00 ET

Hathor Exploration Limited: Midwest NorthEast Uranium Project Intercepts 6% Nickel Over 1.7 m

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2008) - Hathor Exploration Limited (HAT-TSX.V) is pleased to announce that it has received geochemical results for basement-hosted mineralization encountered in diamond drill hole MWNE-08-12 at the Roughrider Zone on its 90%-owned Midwest NorthEast project. Significant intersections, listed below, include nickel (Ni) values up to 17.22%, cobalt (Co) to 1.92%, molybdenum (Mo) to 2.35% and copper (Cu) to 0.34%. These results occur within the 46.4 metre zone of uranium mineralization (having U3O8 assay results of up to 40.2%) intersected in drill hole MWNE-08-12 (see Hathor News Release dated March 3, 2008).

Metals such as nickel, cobalt, lead and arsenic are commonly associated with unconformity-associated uranium deposits in the Athabasca Basin.

For example, at the planned open-pit Midwest mine of AREVA Resources Canada Inc., Denison Mines Corp. and OURD Canada Co. Ltd., report NI 43-101 compliant Probable Ore Reserves of 345,500 tonnes at an average grade of 5.47% U3O8, 4.37% Ni, and 0.33% Co. This sandstone-hosted ore deposit, located about 5 km southwest of Hathor's Roughrider Zone, consists primarily of uranium oxides (uraninite and pitchblende) with a suite of Ni-Co arsenides, sulphides and sulpharsenides in a clay matrix.

All samples were analysed by ICP-ES at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration Laboratories. All metal intervals reported below have been taken to a 0.1% cut-off.

From To Interval Grade
(m) (m) (m) (wt.%)
Nickel 244.0 245.7 1.7 6.05
Including 244.5 245.0 0.5 17.22
285.0 287.0 2.0 0.50
Including 286.0 287.0 1.0 0.81

Cobalt 242.0 245.3 3.3 0.38
285.0 287.0 2.0 1.17
Including 286.0 287.0 1.0 1.92

Copper 242.0 245.0 3.0 0.21
250.0 251.9 1.9 0.27
271.4 274.0 3.6 0.34

Molybdenum 242.0 245.0 3.0 0.59
261.5 264.0 2.5 0.58
269.2 273.4 4.2 0.54
Including 272.8 273.4 0.6 2.35

Hathor Exploration's Senior Project Geologist, Dr. Alistair McCready, commented: "These high metal values within the basement, emphasize the potential for significant unconformity-style mineralization to occur at/or above the unconformity such as seen at the AREVA's Mae Zone located 1,800 m to the southwest."

Terra Ventures Inc. (TAS-TSX.V) owns a 10% production carried interest in the Midwest NorthEast property.

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 continues to aggressively advance its portfolio of 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.

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
    Website: www.hathor.ca