Hathor Exploration Limited

Hathor Exploration Limited

May 01, 2007 11:27 ET

Hathor Exploration Limited: Airborne Gravity Survey Starts Over Russell Lake and McArthur River Mine Areas, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 1, 2007) - Stephen G. Stanley, the President of Hathor Exploration Limited (TSX VENTURE:HAT), announces that Hathor, together with its Russell Lake property joint venture partner, Northern Continental Resources Inc. (TSX VENTURE:NCR), have started a 1,426 line-kilometre (at 300 metre line spacing) airborne Three-Dimensional Full Tensor Gravity Gradiometry ("3D-FTG") geophysical survey over portions of the 45,742 hectare Russell Lake property.

This project is being completed together with an approximate 4,120 line-km survey over the adjoining McArthur River mine property of Cameco Corporation and AREVA Resources Canada Inc. Once completed, these companies will share 1,349 line km of data with Hathor in an effort for all parties to better understand the regional geology of eastern Athabasca, an area that accounts for approximately 28% of the world's annual mine production of U3O8.

The 3D-FTG survey is being performed by Bell Geospace Inc. of Houston, TX and utilizes a technology that was initially developed by Bell Aerospace (now part of Lockheed Martin Corp.) for the US Navy at a cost exceeding US $250 million. This technology, which allows for high-accuracy navigational positioning of Trident nuclear submarines, was declassified through "Dual Use Initiatives" in the mid-1990's and has since been adopted by the mining and oil & gas industries where it is now used as an exploration tool.

3D-FTG technology employs one of the most sophisticated instruments ever developed to measure changes (gradients) in the earth's gravity field with extreme sensitivity. These gravity gradients are caused by subsurface density differences in local rock types which can be related to regional- and prospect-level geological features such as structures (fault zones), lithological contacts, alteration zones and variations in Athabasca Group sandstone thickness.

Imaging and modeling these 3D-FTG density features, in combination with geological information from prior drilling, aeromagnetics, seismic survey coverage and other geophysical inputs, is expected to refine the overall geological model of the Russell Lake property and specifically to assist in the selection of drill targets related to unconformity-type uranium mineralization.

With capital resources in excess of Cdn $26 million, Hathor continues to aggressively advance its portfolio of ten exploration projects in the Athabasca area of mining-friendly Saskatchewan and Alberta; the world's premiere region for high-grade uranium deposits.

Hathor Exploration Limited

Stephen G. Stanley, President

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Contact Information

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