Hathor Exploration Limited

Hathor Exploration Limited

September 05, 2007 12:58 ET

Hathor Delineates 94 Kilometres of EM Conductors at Hatchet Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Hathor Exploration Limited (TSX VENTURE:HAT) announces that it has completed a 1,616 line-kilometre airborne geophysical survey over its 100%-owned Hatchet Lake uranium project.

This survey, flown at 200 metre line spacings using Geotech Ltd.'s "VTEM" helicopter-borne, time-domain electromagnetic (EM) system, produced high-resolution EM data covering the major transition zone between rocks of the Western Wollaston and Mudjatik domains. This is the same basement geological setting as the high-grade, eastern Athabasca Basin orebodies that are responsible for about 25% of the world's annual mine production of U3O8.

The VTEM survey delineated approximately 94 line kilometres of generally northeast-trending EM conductors on Hathor's Hatchet Lake claims. Recent advances in the understanding and modelling of the structural geometries and geochemical traps of basement-hosted uranium deposits, such as McArthur River, Millennium, Sue C and Eagle Point continue to emphasize that geological structures (fault zones) are one of the key factors in their formation. Commonly, graphitic (graphite-bearing) rocks are spatially-associated with such favourable structural settings. Graphitic metasediments and graphitic fault zone rocks are expressed geophysically as EM conductors.

Exploration targets on the Hatchet Lake property will be further developed after processing, interpretation and integration of the EM survey data together with all other geological, geochemical and geophysical data sets into a comprehensive GIS project database. The focus will be to find open-pit, structurally controlled, basement-hosted "root zone" uranium deposits. It is expected that additional mapping, prospecting, geochemical and ground geophysical exploration will allow for the identification and prioritization of diamond drill targets. It is also anticipated that many drill targets will have had no previous exploration history, especially those lying beneath swamps and lakes.

The Hatchet Lake mineral dispositions are centred approximately 46 kilometres (29 miles) north-northeast of the Eagle Point mine of Cameco Corporation's Rabbit Lake mine/mill complex. Rabbit Lake, discovered in 1968, is the longest producing uranium operation in Saskatchewan and includes the mined-out original Rabbit Lake, Collins Bay A, B and D open pits as well as the Eagle Point underground mine where 2006 production totalled 5.1 million lbs U3O8.

With capital resources in excess of Cdn $20 million, Hathor continues to aggressively advance its portfolio of exploration projects in the Athabasca area of mining-friendly Saskatchewan and Alberta; the world's premier region for high-grade uranium deposits.

Hathor Exploration Limited

Stephen G. Stanley, Director

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Contact Information

  • Hathor Exploration Limited
    Stephen G. Stanley
    (604) 684-6707
    (604) 684-9277 (FAX)
    Website: www.hathor.ca