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!
AGORACOM NEWS FLASH
Dear Agoracom Family,
I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.
As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.
To this end:
1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.
2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.
Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!
Sincerely,
George et al
Message: Hathor Upgrades Mineral Resource Estimate for Roughrider
| Tuesday, November 30, 2010 Hathor Upgrades Mineral Resource Estimate for Roughrider Uranium Deposit to 28 M lbs U3O8, including High Grade Zone of 24 M lbs at 11.7 % U3O8 |
 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Hathor Exploration Limited (HAT:TSX-V) is pleased to announce the updated and upgraded mineral resource estimate for the Roughrider Uranium Deposit located on its Midwest NorthEast property, Athabasca Basin, Saskatchewan. Details are provided below in Table 1. Other attributes of the Roughrider uranium deposit include:
Table 1 below shows the Mineral Resource Statement ("MRS") for Roughrider as determined by SRK Consulting (Canada) Inc ("SRK") based on an ordinary kriging (OK) estimate. Table 1: Mineral Resource Statement* for the Roughrider Uranium Project, Saskatchewan, SRK Consulting, November 29, 2010.
† Less than 1 ppm ‡ 0.004% Table 2 on the following page provides a comparison, or sensitivity analysis, for the Roughrider estimates by using the inverse distance squared (ID2) interpolation. The similarity of results underscores the robustness of the drill hole and assay data base for Roughrider, and the continuity (predictability) of high grade mineralization at Roughrider. Table 2: Global Model Quantities and Grade Estimates*, Roughrider Uranium Project.
The exploration database for Roughrider is robust. It is based on based on 174 drill holes exceeding 60,000 m completed in five successive summer and winter drill programs starting in 2008 (Figure 1). Drill hole separation varies from less than 10 m in the core zone to approximately 25 m elsewhere in the deposit (Figure 2). The Roughrider data base includes 24,300 sample intervals assayed for U3O8 and other metals (including arsenic, cobalt, copper, molybdenum, and nickel), and more than 420 bulk dry density measurements obtained in the field. Roughrider uranium deposit is a robust, high grade uranium system. As shown on Figure 3, the major attributes of the deposit are concordant and predictable, including: 1) the alteration envelope; 2) mineral deposit outline (120 ppm U3O8); 3) outer low grade mineral resource shell (0.05% to 3% U3O8), and; 4) high grade core zone with grade greater than 3% U3O8 . All attributes have a long axis of approximately 080o to 090o azimuth, with a moderate dip (30o to 40o) to the north. In plan view, the deposit is up to 220 m in length and 100 m in width. In section view, the mineral zones span a thickness of up to 55-60 m. The following data highlight the strength and continuity of mineralization at Roughrider:
Mineral Resource Statement The Mineral Resource Statement for Roughrider was constructed by SRK Consulting (Canada) Inc. A completed technical report prepared following Canadian Securities Administrators' National Instrument 43-101 and Form 43-101F1 guidelines is anticipated for early January, and will be available on SEDAR within 45 days of this News Release. The boundaries for uranium mineralization were modelled by SRK using a preliminary Hathor interpretation of high and low grade domains, and wireframe grade shells generated with LeapFrog software. The Leapfrog grade shells were generated using a three percent U3O8 thresholds for the high grade domain and a 0.10 to 0.05% threshold for the low grade domain. SRK used both the Hathor interpretation and Leapfrog shells to generate a wireframe outline of high and low grade uranium mineralization on vertical sections spaced by 5 to 10 m. SRK generated eleven high grade wireframes and four low grade wireframes that were considered for geostatistical analysis, variography and grade estimation. The database considered for resource estimation consists of 149 drill holes comprising approximately 24,300 sample intervals with chemical assays for U3O8 and other metals (including arsenic, cobalt, copper, molybdenum, and nickel) and approximately 420 specific gravity measurements. All assay intervals within the high grade and low grade wireframe solids were composited to 0.5 m to provide common support for analysis and estimation. SRK evaluated impact of high grade outliers in each zone using cumulative probability plots, histograms and examining the spatial distribution of higher grades with respect to other drill holes and adjacent composites. SRK concludes that no significant assay outliers are present in the database, thus no grade capping of assays was applied. Variogram model radii for resource estimation were restricted to 20x20x2 m for the high grade zones and 20x15x15 m for the low grade zone. A sub-blocked model for the Roughrider project was generated using Datamine Studio 3. The block model coordinates are based on the local UTM coordinate grid (NAD 83, Zone 13). The parent block size is 4 by 4 by 2 m and is sub-blocked to 1.0 m in the X and Y directions and 0.002 m in the Z direction. The estimation strategy for the Roughrider deposit consists of estimating U3O8 and other elements, and specific gravity into a block model informed from composited data and constrained by fifteen resource domains. Uranium oxide (U3O8 ) grades were estimated using three estimation runs. The first estimation run is based on a search ellipse with ranges equal to the largest variogram model structure the second run consists of a search ellipse range equal to twice the variogram range. The third estimation ellipse consist of a search ellipse generally three times the search ellipse range. The bulk of blocks are estimated in the first run. Second and third estimation runs adds only about 18 and 9% more material, respectively. SRK tested four estimation methods for density to ensure that the variability in the data set can be approximately replicated in the estimate. The three estimation methods used are:
All block model estimates were full block estimates with full block values assigned to sub-blocks. Mineral Resources for the Roughrider uranium project have been classified according to the "CIM Standards on Mineral Resources and Reserves: Definition and Guidelines" (December, 2005), by G. David Keller, P. Geo (APGO#1235) an "independent qualified person" as defined by National Instrument 43-101, who has reviewed the technical aspects of this News Release related to the Resource Estimate. Resource classification criteria include drilling density, variography results and estimation run. All blocks in Zone 100 are classified as Indicated because this zone is well informed by drilling spaced at 5 to 10 m and blocks were estimated with U3O8 grades entirely by the first estimation run. Zone 5 is also well informed by data spaced from 5 to 10 m with the exception of the extreme northwest portion of the Zone which is not well informed by drilling. This area was manually assigned an Inferred classification. Zone 2 was classified according to estimation run; first estimation run estimates was classified as Indicated with all other blocks classified as Inferred. All other zones were classified as Inferred because they are informed by limited data. Midwest Northeast Property The Midwest NorthEast Property is well located in the northeastern Athabasca Basin, accessed by a 6 km winter road from Highway 955. The property is 8.5 km north of the community of Points North, the main service hub for northereastern Saskatchewan. It is within 25 km of operating uranium mine, mill and tailings facilities established in the northeast part of the Basin during the past 35 years. Terra Ventures Inc. owns a qualified 10% interest on the Property, carried to the completion of a positive feasibility study on the Roughrider Deposit. Alistair McCready, Ph.D., P.Geo., Hathor's Exploration Manager with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief Operating Officer, are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the technical disclosure contained in this news release. For more information on Hathor, please visit the company's website at www.hathor.ca, or contact Tony Nunziata at 403-560-7040 or Kelsea Murray at 604-684-6707. ______________________________ Stephen G. Stanley, President & CEO Hathor Exploration Limited |
New Message
Please
login
to post a reply