Hole 116: 2.5 Metres Grading 70.34% U3O8 / #10-200: 22.5 Metres Grading 11.3% U3O8 / #30: 69 metres grading 2.33% U3O8 / #10-188B: 7.5 metres grading 29.98% U3O8
ATHABASCA BASIN: WHERE GRADE IS KING!
Message: Re: news out
Great news. Could be even better this winter.
News Releases
| September 23, 2008 Hathor Extends Roughrider Zone Uranium Mineralization a Further 15 Metres to the Northeast |
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| Hathor Exploration Limited (HAT-TSX.V) announces that it has encountered significant basement-hosted uranium mineralization in diamond drill holes MWNE-08-40 and MWNE-08-42 recently completed during the summer 2008 drill program on Hathor's 90%-owned Midwest NorthEast project. Step-out drill hole MWNE-08-42 extends the Roughrider Zone a further 15 metres to the northeast. Hathor's 2008 summer and winter drill programs have now encountered high-grade, basement-hosted uranium mineralization over a distance of 116 metres between drill holes MWNE-08-42 and DDH-08-22, the southwestern-most uranium-bearing drill hole having a mineralized core length of 6.5 metres grading 2.27% U3O8. Stephen Stanley, President of Hathor, stated: "Although we still have not tested what we believe to be our most important drill targets as outlined by our geophysical surveys, Hathor's summer drill program has been a great success. Going into this program, based on the geometry of the planned drill holes, we were not expecting to achieve what we did. We are very excited about getting onto the ice this winter with an aggressive drill program which will continue to expand and define the Roughrider Zone." Drill hole MWNE-08-40 intersected a 66.1 metre core-length interval having radioactivity readings ranging from 300 counts per second ("cps") to greater than 9,999 cps (off-scale). Within this zone, seven individual zones (ranging from 0.1 to 7.0 m) of highly-radioactive (5,000 cps to greater than 9,999 cps) mineralization were encountered. Dr. Alistair McCready, senior project geologist, commented "the mineralization in MWNE-08-40 is estimated visually to be the best we have intersected to date within the Roughrider Zone". For pictures of high-grade uranium mineralization from this drill hole, please visit Hathor's website at www.hathor.ca . MWNE-08-40 was drilled at an azimuth of 308o and a dip of -50o and targeted the northeast strike extension of Roughrider Zone uranium mineralization. The sub-Athabasca unconformity was encountered at a core length of 276 m, corresponding to a vertical depth of approximately 211 m. The hole deviated off-target and came in about 5 m below DDH MWNE-08-34. The hole ended in fresh, unaltered, non-uranium-bearing garnet biotite gneiss at a drill core length of 375 metres. Drill hole MWNE-08-42, drilled at an azimuth of 315o and a dip of -50o intersected a 5.3 metre mineralized core-length interval (from 276.0 to 281.3 m) having radioactivity readings ranging from 200 cps to greater than 9,999 cps (off-scale). Within this zone, a 1.4 m of highly radioactive (5,000 cps to greater than 9,999 cps) mineralization was encountered at a core length of 277.8 m corresponding to a vertical depth of 218 m. The sub-Athabasca unconformity, in drill hole MWNE-08-42, was encountered at a core length of 270.9 m, corresponding to a vertical depth of approximately 214.8 m. This hole ended in fresh, unaltered, garnet cordieritepelitic gneiss at a drill core length of 395.2 metres. Hole MWNE-08-41 was drilled at an azimuth of 315o and a dip of -48o to a depth of 404 m. From 295.1 to 319.0 m, this hole encountered a 23.9 core-length interval of anomalous radioactivity ranging from 200 to 1,500cps. The sub-Athabasca unconformity, in drill hole MWNE-08-41, was encountered at a core length of 285.3 m, corresponding to a vertical depth of approximately 212 m. This hole ended in fresh, unaltered, non-uranium-bearing garnet biotite gneiss at a drill core length of 404 metres. Based upon the intersection of a 20 to 30 wide zone of strongly structurally disturbed and intensely clay-altered sandstone from about 220 to 250 metres core length, this drill hole is interpreted to have overcut a zone of mineralization by 30 to 50 metres. Drill hole MWNE-08-39 was drilled at an azimuth of 308o and a dip of -45o. Although a 0.2 m core interval of 1,000 cps was encountered at a core length of 324 m, this hole is believed to have overcut the target basement mineralization intersected in MWNE-08-34 and MWNE-08-40 due to a decrease in dip to -42o. The sub-Athabasca unconformity, in drill hole MWNE-08-39, was encountered at a core length of 310.5 m, corresponding to a vertical depth of approximately 207 m. This hole ended in fresh, unaltered granodioritic orthogneiss at a drill core length of 406 metres. These orthogneisses are interpreted to represent an Archean thrust-slice that forms part of the hanging wall complex. Scintillometer results for selected drill core intervals from holes MWNE-08-40 and MWNE-08-42 are presented below. For a drill hole location map, please visit Hathor's website at www.hathor.ca . Hathor measures natural gamma emission radiation from drill core in counts per second using a hand-held Exploranium GR-110G gamma ray scintillometer as a reliable guide for directing drill programs. The reader is cautioned that: 1) scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials; and, 2) all intersections are down-hole, core interval measurements and true thicknesses are yet to be determined. For general comparisons of scintillometer cps readings as related to assay results, please review previous Hathor news releases. The summer diamond drill program has now ended. Thirteen drill holes totalling 5,296 metres were completed. Anomalous radioactivity was encountered in eleven of these holes. Hathor's management believes that the Roughrider Zone remains open in all dimensions and that, in particular, the potential for classic, unconformity style uranium mineralization occurring at or above the sub-Athabasca unconformity (as suggested by detailed resistivity and gravity geophysical surveys) remains untested. Uranium, base and precious metal assay analyses are being performed by the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC), having facilities operating in accordance with ISO/IEC 17025:2005 (CAN-P-4E) general requirements for the competence of mineral testing and calibration laboratories. Terra Ventures owns a 10% carried interest in the Midwest NorthEast property. With capital resources in excess of $27 million, Hathor continues to aggressively advance its portfolio of Athabasca region uranium exploration projects. This area accounts for approximately 23 per cent 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. Benjamin Ainsworth, P.Eng., a director of the company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. 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 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. Midwest NorthEast Project -- Drill Hole MWNE-08-40 -- Selected Scintillometer Results
* All intersections are down-hole, core-interval measurements and true thicknesses are yet to be determined Midwest NorthEast Project -- Drill Hole MWNE-08-42 -- Selected Scintillometer Results
* All intersections are down-hole, core-interval measurements and true thicknesses are yet to be determined |
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