Hathor Exploration has released a new resource estimate that effectively doubles its Roughrider uranium deposit in Saskatchewan’s Athabasca Basin. The company said Tuesday it has identified over 30 million pounds of uranium oxide (inferred) at the East Zone of the property. That works out to 118,000 tonnes of U308 graded at 11.58%.
According to the technical report, exploration consisted of a 21-hole drilling program, with about 368 sample intervals assayed for U308 and other metals, including arsenic, cobalt, copper, molybdenum, nickel and selenium.
The Roughrider deposit is located about 8.5 km north of Points North, Saskatchewan, and is within 25 kilometres of mill and tailings facilities established at Rabbit Lake and McLean Lake, Hathor says on its website, noting that neighbouring properties include Fission/KEPCO’s Waterbury property, Areva’s Midwest deposit, and Cameco’s Tamarack deposit.
Hathor acquired Terra Ventures last month in an all-stock deal valued at about $24 million. Along with a consolidation of the Roughrider and Russell Lake deposits, the deal also gives Terra an option on a 95% interest and a 2% net smelter royalty on Denison Mines and Cameco’s Phoenix property currently being explored by Denison.
Image of mineralization in drill core, Far East Zone, by Hathor Exploration Limited
