Hathor Exploration Limited

Hathor Exploration Limited

November 29, 2007 13:09 ET

Hathor Targets 24 Drill Holes at Midwest Northeast Uranium Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that it has finished processing and primary interpretation of 249 line kilometers of 3D seismic reflection data from the Midwest Northeast property. As a result of the very detailed analyses, a 24 diamond drill hole program has been designed to test the uranium potential of one area of the Midwest Northeast property that covers what is interpreted to be an extension of the primary structure associated with the Mae Zone mineralization, 900 metres south from the property boundary, on the adjacent Midwest mine development property operated by AREVA Resources Canada Inc. Drill permits have been applied for and drilling is expected to start in early 2008.

Although commonly used technology in the oil and gas industry, this innovative project is the first to be undertaken for "hard rock" uranium exploration of the Athabasca Basin area of northern Saskatchewan. The second of such 3D surveys in the basin was conducted at the Cameco Corporation-operated Millennium property, located about 16 km to the northwest of Hathor's South Russell project. FirstGrowth Exploration & Development Services Corp. (TSX VENTURE:FGC) provided data acquisition services at both of these projects.

Bright coherent seismic sections have now been generated within all segments of the seismic data volume allowing visual investigation in any direction of the subsurface. Structural features are clearly visible on all section displays to a depth of around 600 m. Work is now underway to enhance signals from the deeper portions of the basement and to map structural features and the surface of the unconformity.

The 3D seismic data reveal the complicated, polyphase deformation history of the subsurface geology including the early stages of ductile folding which were followed by several periods of brittle faulting as the rocks were uplifted closer to the surface. Such seismic information will allow for a more efficient and better targeted drill program. A comprehensive synthesis is now in progress by the Seismology Laboratories at the University of Saskatchewan, which includes correlation of the seismic signatures to all other available geological, geophysical and diamond drillhole information.

The seismic data volume will be presented at the Saskatchewan Research Council's Virtual Reality Centre (one of only 5 such facilities in Canada) during the upcoming 38th annual Saskatchewan Geological Survey Open House to be held the week of December 3rd in Saskatoon.

With cash 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.

Hathor Exploration Limited

Stephen G. Stanley, Director

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Contact Information

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