Hathor Exploration Limited

Hathor Exploration Limited

March 03, 2010 07:30 ET

Hathor Intersects 81.5 m of 1.59% U3O8 at Roughrider Zone East, Including a 13.5 m Interval of 6.52% U3O8 With Assays as High as 68.1% U3O8

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2010) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce assay results from drill hole MWNE-10-607, the first complete set of drill hole assays from the ongoing 2010 winter drill program at the Company's Midwest NorthEast project in the Athabasca Basin, Saskatchewan. Highlights include:

  • A composite interval of 81.5 m grading 1.59% U3O8.
  • The composite interval includes 41 m of 2.61% U3O8, which itself includes 13.5 m of 6.52% U3O8 with individual assays as high as 68.1% U3O8 (Table 1 below).
  • Alteration is pervasive throughout the composite interval; all core pieces are both altered and anomalous in radioactivity. For example: in the 13.5 metre interval, there are 26 half metre samples, of which only one is less than 500 ppm U3O8, and it is well above background.
    A full list of assay data is available on the Company's website at www.hathor.ca.
  • Similar to Roughrider, arsenic and selenium contents are low.
  • Mineralization spans a vertical extent of 100 m down from the unconformity.
  • There is no preferred host rock to mineralization and alteration; ALL basement rock types are affected, including both the Wollaston Group pelitic gneisses and the overlying hanging wall of granites and pegmatites.

Table 1: Summary assay data for the 81 metre composite intersection in Drill Hole MWNE-10-607(i)

From To Interval U3O8 As Ni Se Mo Co Cu V
(m) (m) (m) (%) (ppm) (%) (ppm) (%) (%) (%) (%)
259.50 341.00 81.50 1.59 30.98 0.007 14.28 0.021 0.003 0.400 0.159
282.50 323.50 41.00 2.61 48.52 0.009 26.13 0.034 0.004 0.649 0.186
293.00 306.50 13.50 6.12 113.56 0.012 50.67 0.043 0.006 1.386 0.194

(i)All intersections are down‐hole; core‐length intervals are best interpreted with respect to geometry
 of the zone on drill fence diagrams.

Dr. Alistair McCready, Hathor's Exploration Manager, said: "These assays confirm the uranium potential that originally excited our exploration team in the field; seeing core box after core box of altered and radioactive core delivered from hole after hole at the new RRZE discovery. I am excited about once again intersecting high grade mineralization associated with massive to semi-massive pitchblende, but the fact that we are now intersecting broad and continuous sections of altered and radioactive rock with proven elevated uranium content throughout gives us something entirely new to be excited about; namely, the potential for broad and continuous composite sections of mineralization, and in three dimensions, large volumes of continuously mineralized rock."

This News Release provides assay data for previously released geology and radioactivity data for drill hole MWNE-10-607 (NR dated February 25, 2010). Drill Hole MWNE-10-607 is shown on both plan maps (Figures 1 & 2) and cross sections (Figure 5) which accompanied the previous release and are posted on the Company's website at www.hathor.ca. As is shown on Figure 2, drill hole MWNE-10-607 is part of the first along-strike step-out drill fence of four holes which is located 25 m along strike to the west of the original discovery at Roughrider Zone East (RRZE) in 2009 at hole MWNE-09-170 (28 m of 12.8 % U308; News Release dated 12 November 2009). Overall, there is the potential for 400 m of along-strike continuity along the controlling 070o structure between RRZE and the western end of the original Roughrider deposit (see Figure 1).

The Midwest Northeast Property is located along strike to the north of the Midwest and Midwest A uranium deposits. The Roughrider deposit is accessed by a 6 km winter road connected to Highway 955. The property is approximately 8.5 km north of the community of Points North, the main service hub for northereastern Saskatchewan (see regional plan map on the Company's website at www.hathor.ca).

Samples were analyzed for U3O8 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). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. The samples were analyzed for a suite of other base metal elements including nickel, cobalt, copper and lead by ICP-ES. Select samples will be analysed for precious metals including gold, platinum, palladium and rhenium. These results will be released upon receipt of all results. Dry bulk density determinations will also be carried out on the drill core.

Terra Ventures Inc. owns a 10-per-cent interest, carried until a decision is made to go to production, in the Midwest NorthEast property.

Benjamin Ainsworth, P.Eng., 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, President

Neither the 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
    Hathor Exploration Limited
    JJ Jennex