Forum Uranium and Hathor Exploration have intersected a strong alteration halo in both the sandstone and well down into the basement at the Henday Project, Athabasca Basin, Saskatchewan. Furthermore, intermittent uranium mineralization just below the unconformity has been intersected in several holes.
The drill has been left on site and a summer drill program is being planned. It is also significant that the unconformity in the area of this discovery was intersected at a depth of 110mt.
The eight week winter drill program recently completed at Henday totaled 18 holes for 4,061mt. The company said that the size and strength of the alteration encountered is very positive, and extends over 100mt in width and at least 150mt in strike, being open to the south and west.
The alteration extends at least 150mt down into the basement lithologies, similar to Hathor’s Roughrider zone and Cameco’s 56.5 million pound Millennium deposit. The property is located 10km northeast of the Hathor and Fission discoveries along the Midwest Mine trend.
Core samples with radioactivity up to 3,200cps have been sent to the Saskatchewan Research Council for processing and results are expected in four to six weeks.
Basement-hosted mineralization in the Athabasca Basin, such as the Roughrider zone, may occur as a sheet-like structure of mineralization within a larger alteration zone. The size and composition of the alteration zone (bleaching followed by hematization), suggests a similar mineralizing event may have taken place at Henday. The results from a resistivity survey currently underway will be used for planning the orientation of the upcoming drill-holes.
The 2010 winter drill program focused on drilling gravity anomalies along a northeast trending structure where illite clay alteration was detected in the 2008 drill program. The alteration zone and accompanying tectonics and dissolution of the sandstone found in the 2010 drilling is a typical feature around almost all of the deposits in the northeast part of the Athabasca Basin.
Hathor has earned a 20% interest in the Henday property from Forum, and has the option to earn a 60% interest by spending $3.5m in exploration with an additional 10% earned by electing to take the project to a bankable feasibility study.