Hathor Exploration
Encyclopedia
Hathor Exploration Limited is a junior uranium
exploration company based in Vancouver, British Columbia, Canada, with an exploration office in Saskatoon, Saskatchewan, Canada. The main focus of Hathor's exploration projects are concentrated on properties within the Athabasca Basin
of Northern Saskatchewan
, Canada.
In 2009, Hathor Exploration was reported as having the sixth most significant exploration project in Saskatchewan (based on expenditures) and the 51st out of 100 in Canada at their Midwest NorthEast property in the Athabasca Basin, by Natural Resources Canada.
The name Hathor
Exploration Limited is inspired by the ancient Egyptian goddess, who besides being one of the most important and popular deities throughout the history of Ancient Egypt, was also the patron goddess of miners in ancient Egyptian culture.
under the name of Sixgill Minerals Ltd. on September 26, 1996. Then on May 28, 1997 the company went through one final evolutionary step by changing its name to Hathor Exploration Limited which it has continued operating under to this day.
In 2006 Hathor Exploration completed the acquisition of Roughrider Uranium Corp. which lead to the discovery of the Roughrider Deposit of the Midwest NorthEast property, and then in 2009 acquired Northern Continental Resources Inc. giving the company full control of the previously joint ventured properties of the Russell Lake Project.
Hathor's most prospective properties are located along the eastern border of the Athabasca Basin within the Wollaston Domain geological trend. Currently the most viable of the company's many properties are the assets attributed to the Midwest NorthEast Project and the Roughrider Deposit's multiple zones of uranium mineralization. The Roughrider Deposit's West Zone was discovered in February 2008 with drill hole MWNE-08-12 which showed concentrations of up to 5.29% U3O8 over 3.3m.
As of May 17, 2011, the Roughrider Deposit contained a NI 43–101
compliant combined resource (indicated and inferred) of 57.94 million pounds U3O8 (Resource estimates prepared by SRK Consulting (Canada) Inc., a division of SRK Consulting), where intercepts have shown grades of up to 81.9% U3O8. The resource estimates to date have only included the West and East zones of the Roughrider Deposit and not the recently discovered Far East Zone. The West Zone of mineralization currently accounts for 27.81 million pounds U3O8 at an average grade of between 1.98 % (indicated) & 11.03 % (inferred) U3O8, while the larger East Zone currently accounts for 30.13 million pounds U3O8 of the total estimated resource at 11.58 % U3O8.
With all current resource estimates taken into account, the Roughrider Deposit is currently the third-highest grade uranium deposit in the world, following Cameco's McArthur River and Cigar Lake Deposits.
The Midwest NorthEast property comprises 543 hectares, which is 90% owned by Hathor Exploration Limited, with the remaining 10% owned by Terra Ventures Inc. of Vancouver, British Columbia.
The (RRZ) of mineralization is located in the same region which also accommodates several other significant uranium deposits. Roughly 4 km to the southwest is the Midwest uranium deposit owned by AREVA Resources Canada Inc, Denison Mines Corp. and OURD Canada Co., Ltd. which contains 41.7 million pounds of U3O8 at a grade of 5.47%, and only 900 meters to the southwest is the Midwest A discovery (formerly known as the Mae Zone) which contains an additional 19.5 million pounds of U3O8 at a grade of 1.57%, and is also owned jointly owned by AREVA Resources Canada Inc, Denison Mines Corp. and OURD Canada Co., Ltd.
Hathor Exploration also controls or has significant interests in other properties both inside the confines of the Athabasca Basin and situated outside of the basin within Saskatchewan.
In March 2009, Hathor Exploration spun-out its Eskay Creek precious metals project to form the new company called Standard Exploration Ltd. (until October 7, 2010 known as MAX Minerals Ltd.) which now oversees all aspects of that project.
In December, 2009 Hathor Exploration completed its acquisition of Northern Continental Resources Ltd. where through a financial agreement, Hathor became the owner of 100% of the interest in the Russell Lake property which is located 15 km northeast of the Key Lake
mine/mill complex and 12 km southeast of the McArthur River uranium mine, which was previously divided between the two companies.
Uranium
Uranium is a silvery-white metallic chemical element in the actinide series of the periodic table, with atomic number 92. It is assigned the chemical symbol U. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons...
exploration company based in Vancouver, British Columbia, Canada, with an exploration office in Saskatoon, Saskatchewan, Canada. The main focus of Hathor's exploration projects are concentrated on properties within the Athabasca Basin
Athabasca Basin
This article is about the uranium mining region near Lake Athabasca. Not to be confused with the drainage basin of the Athabasca River.The Athabasca Basin is a region of Northern Saskatchewan and Alberta Canada that is best known as the world's leading source of high grade uranium...
of Northern Saskatchewan
Saskatchewan
Saskatchewan is a prairie province in Canada, which has an area of . Saskatchewan is bordered on the west by Alberta, on the north by the Northwest Territories, on the east by Manitoba, and on the south by the U.S. states of Montana and North Dakota....
, Canada.
In 2009, Hathor Exploration was reported as having the sixth most significant exploration project in Saskatchewan (based on expenditures) and the 51st out of 100 in Canada at their Midwest NorthEast property in the Athabasca Basin, by Natural Resources Canada.
The name Hathor
Hathor
Hathor , is an Ancient Egyptian goddess who personified the principles of love, beauty, music, motherhood and joy. She was one of the most important and popular deities throughout the history of Ancient Egypt...
Exploration Limited is inspired by the ancient Egyptian goddess, who besides being one of the most important and popular deities throughout the history of Ancient Egypt, was also the patron goddess of miners in ancient Egyptian culture.
History
On June 28, 1996 a new company was formed under the Company Act of Alberta, at the time known by the name of Longview Minerals Ltd. Following its inception, the company then moved out of Alberta and was renamed pursuant to the Canada Business Corporations ActCanada Business Corporations Act
The Canada Business Corporations Act, also known as Bill C-44, is a Canadian act respecting Canadian business corporations.-External links:*...
under the name of Sixgill Minerals Ltd. on September 26, 1996. Then on May 28, 1997 the company went through one final evolutionary step by changing its name to Hathor Exploration Limited which it has continued operating under to this day.
In 2006 Hathor Exploration completed the acquisition of Roughrider Uranium Corp. which lead to the discovery of the Roughrider Deposit of the Midwest NorthEast property, and then in 2009 acquired Northern Continental Resources Inc. giving the company full control of the previously joint ventured properties of the Russell Lake Project.
Current Deposits and Properties
Saskatchewan (Athabasca Basin)Hathor's most prospective properties are located along the eastern border of the Athabasca Basin within the Wollaston Domain geological trend. Currently the most viable of the company's many properties are the assets attributed to the Midwest NorthEast Project and the Roughrider Deposit's multiple zones of uranium mineralization. The Roughrider Deposit's West Zone was discovered in February 2008 with drill hole MWNE-08-12 which showed concentrations of up to 5.29% U3O8 over 3.3m.
As of May 17, 2011, the Roughrider Deposit contained a NI 43–101
National Instrument 43-101
National Instrument 43-101 is a mineral resource classification scheme used for the public disclosure of information relating to mineral properties in Canada...
compliant combined resource (indicated and inferred) of 57.94 million pounds U3O8 (Resource estimates prepared by SRK Consulting (Canada) Inc., a division of SRK Consulting), where intercepts have shown grades of up to 81.9% U3O8. The resource estimates to date have only included the West and East zones of the Roughrider Deposit and not the recently discovered Far East Zone. The West Zone of mineralization currently accounts for 27.81 million pounds U3O8 at an average grade of between 1.98 % (indicated) & 11.03 % (inferred) U3O8, while the larger East Zone currently accounts for 30.13 million pounds U3O8 of the total estimated resource at 11.58 % U3O8.
With all current resource estimates taken into account, the Roughrider Deposit is currently the third-highest grade uranium deposit in the world, following Cameco's McArthur River and Cigar Lake Deposits.
The Midwest NorthEast property comprises 543 hectares, which is 90% owned by Hathor Exploration Limited, with the remaining 10% owned by Terra Ventures Inc. of Vancouver, British Columbia.
The (RRZ) of mineralization is located in the same region which also accommodates several other significant uranium deposits. Roughly 4 km to the southwest is the Midwest uranium deposit owned by AREVA Resources Canada Inc, Denison Mines Corp. and OURD Canada Co., Ltd. which contains 41.7 million pounds of U3O8 at a grade of 5.47%, and only 900 meters to the southwest is the Midwest A discovery (formerly known as the Mae Zone) which contains an additional 19.5 million pounds of U3O8 at a grade of 1.57%, and is also owned jointly owned by AREVA Resources Canada Inc, Denison Mines Corp. and OURD Canada Co., Ltd.
Hathor Exploration also controls or has significant interests in other properties both inside the confines of the Athabasca Basin and situated outside of the basin within Saskatchewan.
Corporate Activities
As a result of negotiations regarding either the acquisition and/or management of various properties Hathor Exploration Limited has previously entered into joint venture agreements, with Forum Uranium Corp., Triex Minerals Corporation, Terra Ventures Inc., and ESO Uranium Corp. on various projects across Canada.In March 2009, Hathor Exploration spun-out its Eskay Creek precious metals project to form the new company called Standard Exploration Ltd. (until October 7, 2010 known as MAX Minerals Ltd.) which now oversees all aspects of that project.
In December, 2009 Hathor Exploration completed its acquisition of Northern Continental Resources Ltd. where through a financial agreement, Hathor became the owner of 100% of the interest in the Russell Lake property which is located 15 km northeast of the Key Lake
Key Lake
-See also:* Unconformity uranium deposits* Uranium mining* List of uranium mines...
mine/mill complex and 12 km southeast of the McArthur River uranium mine, which was previously divided between the two companies.
Corporate Governance
Current Corporate Personnel, Directors & Advisors of Hathor Exploration Limited are:- Mike Gunning, PhD, P. Geo.GeologistA geologist is a scientist who studies the solid and liquid matter that constitutes the Earth as well as the processes and history that has shaped it. Geologists usually engage in studying geology. Geologists, studying more of an applied science than a theoretical one, must approach Geology using...
, President, Chief Executive Officer & Director - James P. Malone, Director & Chairman of the Board & Chairman of the Special Committee
- Jay Fredericks, Vice President of Project Development
- Alistair McCready, PhD, P. Geo.GeologistA geologist is a scientist who studies the solid and liquid matter that constitutes the Earth as well as the processes and history that has shaped it. Geologists usually engage in studying geology. Geologists, studying more of an applied science than a theoretical one, must approach Geology using...
, Vice President of Exploration - Andriyko Herchak, CAChartered AccountantChartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...
, Chief Financial Officer - Benjamin Ainsworth, P.Eng, Advisor to the Board, Special Projects and New Business Opportunities
- John Currie, CAChartered AccountantChartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...
, Director & Chairman of the Compensation Committee - Martin Glynn, Director & Chairman of the Audit Committee
See also
- UraniumUraniumUranium is a silvery-white metallic chemical element in the actinide series of the periodic table, with atomic number 92. It is assigned the chemical symbol U. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons...
- Nuclear powerNuclear powerNuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity...
- Prospective/Proposed Uranium Mines