FirstGrowth Capital Inc.
TSX VENTURE : FGC

FirstGrowth Capital Inc.

January 08, 2007 08:30 ET

FirstGrowth Capital Enters Into $1.6 Million Contract With Hathor Exploration to Explore for Uranium Using Advanced Seismic Technology

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 8, 2007) - FirstGrowth Capital Inc. (TSX VENTURE:FGC), is pleased to announce that its 98.36% owned subsidiary, Kinetex Inc. ("Kinetex") has entered into a contract valued at over $1.6 Million with Hathor Exploration Limited ("Hathor") (TSX VENTURE:HAT) to provide seismic surveys utilizing "Full Wave 3-Component VectorSeis" technology to explore for uranium in the Athabasca Basin of northern Saskatchewan.

Kinetex has been contracted to perform all data gathering on Hathor's Midwest NE property survey and has mobilized a 30-man crew to the project. This project will be the first true 3-C seismic survey to be undertaken in the Athabasca Basin.

Kinetex will utilize a radio telemetry-based input-output, advanced "VectorSeis®" technology, a newly-developed proprietary system that is state-of-the-art. This efficient, man-portable instrumentation allows for the collection of a large data set, with a marginal environmental footprint, while maintaining consistent, high-density coverage over the region. The seismic work will involve the collection of over 20 million seismic traces of high frequency "Digital 3 Component Full Wave" data imaging.

The principal objectives of this 3-C seismic survey will be: to provide a definitive map of structural features and the basin/basement unconformity; to enhance correlation efforts of previously identified regional north-northeast trending conductors with basement features; and to allow Hathor to better define prospective targets for diamond drilling. By better defining such structural drill targets Hathor will be able to realize significant cost savings in future drill programs.

The University of Saskatchewan and Saskatchewan Research Council ("SRC") personnel will be instrumental in the analyses and interpretation of the seismic data and the use of the SRC's new virtual reality centre will be of significant importance in picking drill targets.

Kinetex is a Calgary-based integrator of applied sciences to the resource industry including both oil & gas exploration and development and mining exploration. One of Kinetex's primary services is targeted implementation and optimization of seismic imaging utilizing the proprietary VectorSeis® Recording System and Digital 3 Component Full Wave imaging.

FIRSTGROWTH CAPITAL INC.

Gilbert Schneider, President

WE SEEK SAFE HARBOUR

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • FirstGrowth Capital Inc.
    Gil Schneider
    President
    (604) 484-5761