Hathor Exploration Limited

Hathor Exploration Limited

September 24, 2009 16:20 ET

Hathor Completes Successful Summer Drill Program on Midwest NorthEast Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2009) - Hathor Exploration Limited (HAT:TSX-V) is pleased to announce that it has completed its summer exploration program at its 90%-owned Midwest NorthEast property, northern Saskatchewan. Fifty-six diamond drill holes have been completed for a total of 20,106 m. A barge-based drill completed 20 holes for 6,724 m, a land-based drill rig at the Roughrider Zone completed 20 holes for 8,056 m, and a land-based reconnaissance drill completed 16 holes for 5,326 m.

Highlights of the successes of the summer program include:

- Discovery of a very important new zone of mineralization (intersected in drill hole MWNE-09-170) located on land and approximately 200 m east of the Roughrider Zone. This mineralization could be an extension of the Roughrider Zone or a second mineralized system within a larger alteration zone.

- Identification of two new large zones of alteration, one of which hosts the new zone of mineralization.

- The second zone of alteration, located around 1.5 km from the Roughrider Zone, was discovered during the reconnaissance drill testing of a number of other targets on the property. This zone will be tested further in the upcoming winter exploration when drilling can be carried out on the ice.

- Completion of two drill holes for metallurgical samples of higher grade uranium within the envelope of the Roughrider zone.

Out of the 20 barge-based drill holes completed, 2 were metallurgical drill holes and 18 were exploration drill holes. From these 18 drill holes, 13 intersected variable amounts of anomalous radioactivity (greater than 500 cps). While 5 did not intersect anomalous radioactivity, all 5 did intersect the alteration package/halo, thus the possibility of these drill holes being near-misses cannot be precluded. Two metallurgical drill holes completed by the barge-based drill rig will be used by Hathor's metallurgical consultants, Melis Engineering Ltd from Saskatoon, to further evaluate the mineral processing characteristics of the Roughrider Zone. Metallurgical results will be released in due course.

The land-based drill, located on the peninsula to the east of the Roughrider Zone was utilized to complete 1) shallow-angled drill holes into the Main Roughrider Zone, and 2) steeply-dipping drill holes targeting the eastern extension of the Roughrider Zone, collectively referred to as the Greater Roughrider Zone. Out of the 20 drill holes completed in the Greater Roughrider Zone, a total of 7 intersected anomalous radioactivity (greater than 500 cps). Out of the remaining 13 drill holes, 10 drill holes intersected alteration within either the sandstone and/or basement rocks. The information gained from both of these drill rigs will be incorporated into Hathor's geological-structural-mineralization model of the Roughrider Zone to plan the next winter drill program on the now enlarged Greater Roughrider Zone.

The 4 westerly-dipping drill holes (MWNE-09-132 through 135) were not drilled at an optimum angle to intersect mineralization but did provide geological evidence for interpreted northwesterly-orientated faults.

The reconnaissance drill rig, in addition to identifying an alteration zone around 1.5 km from the Roughrider Zone, tested a number of targets around the property. While none of these intersected anomalous radioactivity, 7 drill holes did intersect alteration within the sandstone and/or basement rocks. These results and the forthcoming whole rock geochemical analyses will be incorporated into Hathor's 3D model and be used to further refine winter drill targets.

Mineralized samples will be 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. Laboratory method quality control includes the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses will be performed on every 20th sample. Both mineralized and non-mineralized samples will also be analyzed for a suite of other elements including nickel, cobalt, copper and lead. These results will be released upon receipt of all results.

Terra Ventures Inc. owns a 10-per-cent production carried interest 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.

Hathor Exploration Limited

Stephen G. Stanley, Director

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
    J.J. Jennex