Hathor Exploration Limited

Hathor Exploration Limited

October 12, 2006 13:57 ET

Hathor to Start Airborne Geophysical Survey of Vedette Lake Uranium Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that it has contracted Aeroquest Limited to perform a 1,554 line kilometer AeroTEM II survey (helicopter-borne time domain electromagnetics) on the Vedette Lake permit in northern Saskatchewan. This 49,998 hectare permit is 100%-owned by Hathor's subsidiary, Roughrider Uranium Corp.

The "Key Lake Mine Road" (Saskatchewan Provincial Highway 914) provides direct, year-round access to the eastern part of the Vedette Lake permit. Between 1983 and 1997, the Key Lake Mine of Cameco Inc. and AREVA Resources Canada Inc. produced approximately 180 million pounds of U3O8 and its mill facilities are now used to process rich uranium ores from the McArthur River Mine.

The Vedette Lake permit straddles the boundary between basement rocks of the Western Wollaston and Mudjatik Domains; the geologic setting of the notable uranium deposits of the eastern Athabasca Basin area. Athabasca Basin sandstones are thought to have once covered these basement rocks prior to their being eroded by Pleistocene glaciation. The level of erosion in relation to the Athabasca Basin unconformity is unknown, but is thought to be within the range of uranium mineralizing processes (up to approx. 350m below the unconformity) as reported at other basement-hosted deposits including Cameco's Eagle Point mine and their Millennium Deposit.

Uranium exploration targets on the Vedette Lake permit are high-grade, basement-hosted root zones associated with unconformity-style mineralization as are found beneath the Athabasca Basin sandstones to the northeast. Uranium and copper-zinc mineralized showings (as reported in Saskatchewan Industry & Resources "Geological Atlas of Saskatchewan") were discovered on the property by intensive prospecting during the late 1970's following the Key Lake discovery.

Geological structures are the key factors in the formation of "root zone" uranium deposits. On the Vedette Lake permit, favourable structural settings are suggested by regional aeromagnetics, where prominent N70 degrees E and east-west linears intersect the northeasterly trending Wollaston-Mudjatik Boundary Zone. The AeroTEM II survey will help to further define these structural features and follow-up geological and geophysical surveys will allow Hathor to formulate targets for diamond drilling.

For more information on Hathor, its subsidiary Roughrider Uranium Corp. and their projects, please visit the company's website: www.hathor.ca.

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