Midwest NorthEast Project –
11.9 Metres of 5.29 % U3O8
Hathor
Exploration Limited (HAT–TSX.V) announces that it has received U3O8
assay results for uranium mineralization encountered in diamond drill hole
MWNE-08-12 on its 90%-owned Midwest NorthEast project (see Hathor news release
NR08-07, dated February 26, 2008). This drill hole intersected 11.9
metres grading 5.29% U3O8 beginning at 261.5 metres. In
addition, individual assays include 20 cm grading 40.2% U3O8
beginning at 251.9 metres.
High-grade
uranium mineralization in hole MWNE-08-12, the 12th hole of a
planned 24-hole program, occurs in basement rocks that are a heterogeneous mix
of variably clay-altered to clay-replaced pelitic gneiss, graphitic pelitic
gneiss, granitic pegmatite and micro-granite.
Ninety-five
(95) split core samples were taken from drill hole MWNE-08-12 over a continuous
interval that extends from 240.6 to
287.0 metres down the hole. The individual sample intervals range from 0.2 to
1.0 m in length, except for one assay that was 0.1 m. True thicknesses of the
mineralized core intervals are not yet known.
All samples
were analysed for
U3O8 (wt%) at the Geoanalytical Laboratories of
the Saskatchewan Research Council (SRC). The facilities used for the analysis
operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements
for the Competence of Mineral Testing and Calibration Laboratories. The samples
were analysed using their ISO/IEC 17025:2005 accredited U3O8 wt% method. Laboratory method
quality control included the insertion of certified reference materials
applicable for the ranges of mineralization encountered. Check assays were
carried out on five samples by the laboratory and two duplicate samples
submitted by Hathor, all with satisfactory reproducibility. All samples are
being analysed for a suite of other elements including Ni, Co, Cu, and Pb.
Summaries of
the U3O8 assays within the 46.4 metre mineralized zone
intersected in drill hole MWNE-08-12 are given in Tables 1 and 2. All
ninety-five assays from the mineralized zone are listed in Table 3 at the end of this news release.
Table 1: Composited intervals in drill hole MWNE-08-12 at a
cut-off value of 0.05 wt% U3O8 and minimum core length of
3.0 metres.
From
(m)
|
To
(m)
|
Interval
(m)
|
U3O8
(wt%)
|
242.0
|
245.3
|
3.3
|
1.16
|
250.6
|
256.0
|
5.4
|
2.07
|
261.5
|
273.4
|
11.9
|
5.29
|
278.0
|
281.0
|
3.0
|
0.058
|
284.0
|
287.0
|
3.0
|
0.207
|
Table 2: Six highest values for individual sample intervals
in drill hole MWNE-08-12.
From
(m)
|
To
(m)
|
Interval
(m)
|
U3O8
(wt%)
|
251.9
|
252.1
|
0.2
|
40.20
|
261.7
|
261.9
|
0.2
|
28.20
|
262.3
|
262.6
|
0.3
|
28.40
|
269.4
|
269.6
|
0.2
|
20.40
|
271.4
|
271.6
|
0.2
|
27.20
|
271.8
|
272.0
|
0.2
|
29.80
|
Hathor Exploration$B!G(Bs Senior
Project Geologist, Dr Alistair McCready,
commented: $B!H(BThe technical importance of this discovery can not be overstated.
This discovery was made using a combination of new innovative exploration
techniques following the re-examination of historic drill core with a fresh
perspective. The mineralization represents a non-traditional,
non-conductive target where no airborne EM anomalies are present, a new style
of target for the Athabasca
Basin. It signifies the
need for exploration methodologies to evolve and utilize modern, cutting-edge
techniques, such as reflection seismic to find structure – the key to these
deposits.$B!I(B
Barry
Cook, P.Eng., of Scott Wilson Roscoe
Postle Associates Inc., a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the technical disclosure contained in this
news release.
Hathor$B!G(Bs Midwest NE project is located in northern Saskatchewan$B!G(Bs
Athabasca Basin
immediately adjacent to the Midwest property
of AREVA Resources Canada Inc., Denison Mines Corp. and OURD Canada Co.
Ltd. There, subject to regulatory approvals, mine site construction is
slated to begin in mid-2009 and open-pit mining of a shallow (depth of about
200 metres) orebody is planned for early 2010. Points North Landing, a regional
service centre to the region, is located about eight kilometres from Hathor's Midwest NE property and
the modern, AREVA-operated
McClean Lake
uranium mill facilities are located approximately 10 kilometres to the east.
The
current Midwest NE winter exploration program includes about
8,000 metres and utilizes two diamond drills contracted from Boart Longyear
Inc., a global drilling company. Hathor has now completed in excess of
4,000 metres of diamond drilling in 14 of a planned 24 NQ-sized diamond drill
holes. Holes completed to date are a combination of vertical and angled
holes that dip approximately 70 to 80 degrees to the NW or NNW. Drill
hole depths to the unconformity range from about 200 to 226 metres. Terra
Ventures Inc. (TAS$B!>(BTSX.V) owns an 8% production carried interest in the Midwest
NorthEast property.
With
capital resources of approximately Cdn $20 million, Hathor continues to
aggressively advance its portfolio of eleven Athabasca
region uranium exploration projects. This area accounts for approximately 25%
of the world's annual mine production of uranium. All of this production comes
from unconformity-style uranium ore deposits, the highest-grade uranium ore
deposits in the world.
For
more information on Hathor, please visit the company's website: www.hathor.ca
or contact Stephen Stanley at 604-684-6707 or Tony
Nunziata, Investor Relations, at 403-560-7040.
Hathor Exploration Limited
Stephen G.
Stanley, Director
The
TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release.
Table 3: Drill hole MWNE-08-12 U3O8 assay results.
From
|
To
|
Core Length (m)
|
U3O8 (wt%)
|
240.6 |
241.0 |
0.4
|
0.011 |
241.0 |
241.5 |
0.5
|
0.007 |
241.5 |
242.0 |
0.5
|
0.030 |
242.0 |
242.5 |
0.5
|
0.331 |
242.5 |
243.0 |
0.5
|
0.064 |
243.0 |
243.5 |
0.5
|
1.76
|
243.5 |
244.0 |
0.5
|
1.28
|
244.0 |
244.5 |
0.5
|
0.042 |
244.5 |
244.6 |
0.1
|
2.07
|
244.6 |
245.0 |
0.4
|
4.63
|
245.0 |
245.3 |
0.3
|
0.142 |
245.3 |
245.7 |
0.4
|
0.032 |
245.7 |
246.5 |
0.8
|
0.008 |
246.5 |
247.0 |
0.5
|
0.002 |
247.0 |
248.0 |
1.0
|
0.002 |
248.0 |
249.0 |
1.0
|
<0.001
|
249.0 |
250.0 |
1.0
|
<0.001
|
250.0 |
250.6 |
0.6
|
0.016 |
250.6 |
250.9 |
0.3
|
1.99
|
250.9 |
251.9 |
1.0
|
0.025 |
251.9 |
252.1 |
0.2
|
40.2
|
252.1 |
253.0 |
0.9
|
0.088 |
253.0 |
254.0 |
1.0
|
<0.001
|
254.0 |
254.2 |
0.2
|
0.020 |
254.2 |
254.4 |
0.2
|
3.67
|
254.4 |
254.7 |
0.3
|
0.199 |
254.7 |
255.0 |
0.3
|
0.012 |
255.0 |
255.6 |
0.6
|
0.007 |
255.6 |
255.8 |
0.2
|
7.60
|
255.8 |
256.0 |
0.2
|
0.579 |
256.0 |
256.5 |
0.5
|
0.002 |
256.5 |
257.0 |
0.5
|
0.002 |
257.0 |
258.0 |
1.0
|
0.004 |
258.0 |
259.0 |
1.0
|
0.012 |
259.0 |
260.0 |
1.0
|
0.014 |
260.0 |
261.0 |
1.0
|
0.010 |
261.0 |
261.5 |
0.5
|
0.007 |
261.5 |
261.7 |
0.2
|
7.84
|
261.7 |
261.9 |
0.2
|
28.2
|
261.9 |
262.1 |
0.2
|
14.1
|
262.1 |
262.3 |
0.2
|
6.98
|
262.3 |
262.6 |
0.3
|
28.4
|
262.6 |
263.0 |
0.4
|
0.785 |
263.0 |
263.4 |
0.4
|
0.052 |
263.4 |
263.8 |
0.4
|
0.015 |
263.8 |
264.0 |
0.2
|
17.3
|
From
|
To
|
Core Length (m)
|
U3O8 (wt%)
|
264.0 |
264.2 |
0.2
|
0.010 |
264.2 |
264.6 |
0.4
|
0.081 |
264.6 |
265.0 |
0.4
|
0.048 |
265.0 |
265.4 |
0.4
|
0.084 |
265.4 |
265.6 |
0.2
|
15.0
|
265.6 |
266.0 |
0.4
|
0.005 |
266.0 |
267.0 |
1.0
|
0.005 |
267.0 |
267.5 |
0.5
|
0.094 |
267.5 |
268.0 |
0.5
|
0.844 |
268.0 |
268.5 |
0.5
|
0.027 |
268.5 |
269.0 |
0.5
|
0.025 |
269.0 |
269.2 |
0.2
|
0.043 |
269.2 |
269.4 |
0.2
|
2.74
|
269.4 |
269.6 |
0.2
|
20.4
|
269.6 |
269.8 |
0.2
|
13.6
|
269.8 |
270.0 |
0.2
|
0.013 |
270.0 |
270.2 |
0.2
|
0.888 |
270.2 |
270.5 |
0.3
|
0.003 |
270.5 |
271.0 |
0.5
|
0.374 |
271.0 |
271.2 |
0.2
|
15.6
|
271.2 |
271.4 |
0.2
|
0.110 |
271.4 |
271.6 |
0.2
|
27.2
|
271.6 |
271.8 |
0.2
|
13.3
|
271.8 |
272.0 |
0.2
|
29.8
|
272.0 |
272.2 |
0.2
|
6.12
|
272.2 |
272.4 |
0.2
|
7.46
|
272.4 |
272.6 |
0.2
|
11.5
|
272.6 |
272.8 |
0.2
|
9.19
|
272.8 |
273.0 |
0.2
|
13.2
|
273.0 |
273.2 |
0.2
|
5.70
|
273.2 |
273.4 |
0.2
|
0.299 |
273.4 |
273.6 |
0.2
|
0.008 |
273.6 |
273.8 |
0.2
|
0.033 |
273.8 |
274.0 |
0.2
|
0.022 |
274.0 |
275.0 |
1.0
|
0.015 |
275.0 |
276.0 |
1.0
|
0.030 |
276.0 |
277.0 |
1.0
|
0.003 |
277.0 |
278.0 |
1.0
|
0.014 |
278.0 |
279.0 |
1.0
|
0.033 |
279.0 |
280.0 |
1.0
|
0.020 |
280.0 |
281.0 |
1.0
|
0.122 |
281.0 |
282.0 |
1.0
|
0.011 |
282.0 |
283.0 |
1.0
|
0.027 |
283.0 |
284.0 |
1.0
|
0.005 |
284.0 |
285.0 |
1.0
|
0.006 |
285.0 |
286.0 |
1.0
|
0.039 |
286.0 |
286.5 |
0.5
|
0.901 |
286.5 |
287.0 |
0.5
|
0.252 |
Cheers,
Natasha
Dutra, Office Manager
Hathor Exploration Limited
Suite 1910 -
925 West Georgia St.
Vancouver, BC V6C 3L2
T 604-684-6707
F 604-684-9277
www.hathor.ca