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: New Assay Results Far East Zone: 49meters of 2.22%
Hathor Exploration Limited
TSX : HAT
November 10, 2011 16:43 ET
Hathor Releases New Assay Results for the Far East Zone at Roughrider
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - Hathor Exploration Limited (TSX:HAT) ("Hathor" or the "Company") is pleased to release the final assay results from the 2011 summer drill program at the Far East Zone of the Roughrider Uranium Deposit in the Athabasca Basin, with new data from 2 drill holes (MWNE-11-716 and MWNE-11-718). Assays from drill hole 718 confirm new mineralization near the unconformity at Far East, in a zone much shallower than the main zone outlined by previous drilling.
Table 1 below presents select composited assay data from the two new drill holes; a complete set of composited assay data is provided in Table 2.
|Table 1: Composited Assay Data Highlights for Drill Holes MWNE-11-718 and -716, Far East Zone.|
|GT||Distance below UNC (m)|
|GT – Grade x Thickness; Based on a cut-off of 0.05% U3O8. All intervals are core lengths. Grade values are rounded to two decimal places. GT values have been calculated from original assay numbers which are listed to three decimal places. UNC – unconformity|
Figure 1 is a plan map showing the location of all drill holes completed to date at the Far East Zone. Figure 2 is a cross section with the composite intersections shown above in Table 1 for drill hole MWNE-718; the figure shows the spatial relationship between the original, main zone of mineralization at Far East and the new, shallower zone of mineralization near the unconformity. Both figures are modified from figures in the Company's previous news release dated September 20, 2011.
The recently completed NI 43-101 compliant technical report Preliminary Economic Assessment Technical Report for the East and West Zones, Roughrider Uranium Project, Saskatchewan, filed on SEDAR October 27, 2011, does not include the Far East Zone. The Company is currently evaluating a mineral resource estimate model for the Far East Zone.
2011 Summer Program Summary
The 2011 summer drill program at Roughrider used two drill rigs for nine weeks to complete 9,600 m in 20 drill holes, of which 19 were at the Far East Zone (news releases dated August 15, 2011 and September 20, 2011).
Based on results to date, the Far East Zone will be the focus of the Company's planned exploration drill program at Roughrider for the upcoming winter drill season in 2012.
Sample Analysis and QAQC
All mineralized drill hole intersections are reported as down-hole intervals, not true thickness. True thicknesses are determined within the context of 3D geological models used for exploration and resource modeling.
Samples were chemically analyzed for U3O8 at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. The samples were analyzed for a suite of other base metal elements including nickel, cobalt, copper and lead by ICP-ES. Field and laboratory of select samples show good reproducibility.
Dry bulk density determinations were carried out by Hathor staff on the drill core.
Full details of the Company's QAQC program are documented in the NI 43-101 compliant technical report Technical Report for the Roughrider East Zone, Roughrider Uranium Deposit, Midwest Northeast Project, Saskatchewan, filed on SEDAR on June 29, 2011.
Midwest Northeast Property
The Midwest Northeast Property ('the Property'), which contains the Roughrider Uranium Deposit, is within the eastern corridor of the Athabasca Basin. It comprises 3 mineral leases covering 598 ha, and located approximately 8.5 km north of Points North, the main service hub for northern Saskatchewan.
Subsequent to the successful acquisition of Terra Ventures Inc. (see news release dated August 5, 2011), Hathor owns 100% of the Property and the Roughrider Uranium Deposit.
A NI 43-101 compliant mineral resource estimate for the West Zone titled Technical Report for the Midwest Northeast Project, Roughrider Zone, Saskatchewan, was filed on SEDAR on January 14, 2011. A NI 43-101 compliant mineral resource estimate for the East Zone titled Technical Report for the Roughrider East Zone, Roughrider Uranium Deposit, Midwest Northeast Project, Saskatchewan, was filed on SEDAR on June 29, 2011.
Alistair McCready, Ph.D., P.Geo., Hathor's V.P. Exploration, and Michael Gunning, Ph.D., P.Geo., Hathor's President & Chief Executive Officer, are Qualified Persons as defined by NI 43-101 and have reviewed and approved the technical disclosure in this news release.
Dr. Michael H. Gunning, President & CEO
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