Gil confirmed that drilling will start on Tuesday Oct 25 on the Keefe Lake Property.

Through interpretation of the sceismic data correlated with Aerotem and Geotem on the Keefe Lake property they have identified 24 high priority targets and will start by drilling 10 of the most prospective targets.

Because of the artificially depressed market conditions for uranium following the economic downturn and Fukushima, Athabaska has been able to acquire several properties in the basin at very low prices.

The Keefe lake property had $3M of geophysical work completed by previous owners, Mega Uranium, including a 2D seismic survey from 2008. They have some of the same geologists/seismologists (Dr. Zoltan Hajnal) interpreting their data that helped Hathor discover the Roughrider deposit. They believe they have identified multiple faults and areas of Hydrothermal Alteration.

Camaco once controlled the Roughrider property and were unable to make the discovery using conventional methods. When Hathor acquired the property they utilized seismic methodology to successfully determine drill locations enabling them to make the discovery.

Athabaska has used the same technology employed by Hathor to lead them to identify these 10 targets. In fact Gil Schneider, President of Athabasca, was previously President of the Company that provided the seismic equipment for the Hathor project. His expertise and experience with seismic technology led him to the decision to form an exploration company.

Athabasca has followed their plan and now it is time to test the theory.

SN