Also, areas within the bounds of known mineralization that have not been included in the resource estimate will be given similar priority. Hathor Exploration’s objective for the upcoming drill programme is to expand the Inferred Mineral Resource tonnage and to upgrade Mineral Resources from the Inferred to the Indicated category. The resource estimate has been made out of date by subsequent drilling results received from the summer 2009 drill campaign.
The Scott Wilson RPA Mineral Resource Estimate describes a NI 43-101 compliant Indicated Resource of 116,000 tonnes of 2.57% U3O8 and an Inferred Resource of 83,000 tonnes of 3.00% U3O8. The Indicated Resource is thus 6,580,000 lbs U3O8 and the Inferred Resource, an additional 5,470,000 lbs of U3O8. The uranium resource is identified as having low values for common toxic elements such as arsenic and selenium compared to most other deposits in the area. This makes the Roughrider Zone mineralization desirable for blending with such ores to reduce the bulk toxic element content before processing.
High grade zones of uranium mineralization comprise a significant part of the resource estimate as less than 10% of the resource tonnages described in the Mineral Resource Estimate below contain more than 56% of both the indicated and inferred uranium pounds. This large contribution by the high grade zones should also be considered in the context of the notes to the Resource Statement. Note 3. states that the “High U3O8 grades were cut to 30% in the outer zones, and 50% in the high grade zones”. The Indicated Resource has around 20% larger tonnage than the Inferred Resource in a mineralized system that in plan view is described as “200 m. long by 100 m. wide” and lies within a much longer zone of alteration.
Excellent potential exists to increase resources. The mineralized drill hole MWNE 09-170, located around 200 metres to the East NorthEast of the Roughrider Zone, was part of the summer drilling excluded from this estimate. This hole intersected strong alteration, similar to that of the Roughrider Zone, with over 60 metres of mineralization, including several sections of mineralization that caused off-scale readings on the Exploranium GR-110G gamma ray scintillometer used to assess mineralization. Assay results of this core interval will be released as soon as they are received.
