Hathor Exploration Limited

Hathor Exploration Limited

April 25, 2007 12:38 ET

Hathor Exploration Limited: Drilling Planned for Wollaston NE Uranium Targets, Athabasca Area, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 25, 2007) - Stephen G. Stanley, the President of Hathor Exploration Limited (TSX VENTURE:HAT), announces that Hathor is pleased to provide an update on the Wollaston NorthEast project, where, as a result of exploration started in 2005, an initial diamond drill program is planned for the fall of 2007 to test high-priority target areas.

The Wollaston NE project is a joint venture between Hathor's wholly-owned subsidiary, Roughrider Uranium Corp. (49%) and the project operator, Triex Minerals Corporation (51%). This property is located approximately 80 kilometres northeast of Cameco Corporation's Eagle Point Mine which is at the northeastern edge of the Athabasca Basin.

The Wollaston NE property covers the same favourable western Wollaston Domain basement geology as all of the major eastern Athabasca uranium deposits that currently account for about 28% of the world's annual mine supply of U3O8. As such, the focus of exploration at Wollaston NE is on the potential for near-surface, basement-hosted, structurally controlled uranium deposits. Analogous deposits include the past-producing Sue C open pit mine (operated by AREVA Resources Canada Inc.) and the Eagle Point deposit of Cameco's Rabbit Lake mine operations.

In 2005, regional- and property-scale geological, geophysical and remotely sensed data sets were acquired from public and private sources, integrated and analyzed to outline areas deemed favourable for structurally-controlled uranium deposition and concentration on the Wollaston NE permits.

This compilation work was followed up in January of 2006 with Fugro Airborne Surveys completing a total of 2,802 line kilometres of helicopter-borne DIGHEM V magnetic and electromagnetic ("EM") surveys over four grids on the Wollaston NE property. These grid areas were all flown, at 100 metre line spacing, to produce high-resolution data covering major boundary zones identified on regional airborne magnetic maps and the location of known mineral occurrences, geochemical anomalies and historically defined EM conductors.

Of the four DIGHEM V grids flown, results from Block A (the farthest to the northeast) show a target of offsets in a 9 km long trend of a 1-2 kilometre wide belt of sub-parallel EM conductors. Block B results, farther along strike to the southwest, show an 18 km long belt of disrupted conductors within a prominent magnetic low. Block C is at Kingston Lake where regional, northeast-trending conductors are offset along a north-south oriented linear feature interpreted as a fault zone. An east-west isoclinal fold structure outlined by high-resolution magnetic data is also truncated along this north-south linear feature. The targets on Block D, to the south of Bannock Lake, are offset zones along two sub-parallel conductors less than one kilometer apart and each about five kilometers long.

In September, 2006, 899 lake sediment samples were collected on the Wollaston NE permits as part of an extensive regional lake sediment geochemical program in which a total of 1,289 samples were collected at a high sample density of approximately 1 sample per 1.5 square kilometers. Two of the three single highest uranium values for lake sediment samples from the regional survey are found just to the northwest of EM conductors on Block D (73 and 52 ppm uranium, respectively) and one sample taken to the south of the conductors contains 31 ppm uranium, approximately ten times background for the survey area.

In 2007, Patterson Geophysics Inc. completed a winter geophysical program of two ground-based resistivity surveys totaling about 30 line-kilometres on the Wollaston NE property over offsets and/or truncations of conductors in Blocks A and B.

Target delineation will continue in June of 2007 with a planned four-week surface program of mapping, prospecting and further geochemistry. It is anticipated that an initial diamond drill program designed to test the highest-priority target areas will start in September or October.

The Wollaston NE Property originally comprised six Prospecting Permits covering 184,475 hectares. Following complete processing, integration, modeling and interpretation of all geological, geochemical and geophysical data sets into the comprehensive GIS project database and, according to Saskatchewan regulations, staking of five mineral claims within the permit holdings has been now completed and filed. The project area is now reduced to 15,173 hectares.

With capital resources in excess of Cdn $26 million, Hathor continues to aggressively advance its portfolio of exploration projects in the eastern Athabasca area of mining-friendly Saskatchewan; the world's premiere region for high-grade uranium deposits. For more information, including maps pertaining to the above, please visit our web site at http://www.hathor.ca.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

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