In resources news, Hathor Exploration (TSX: V.HAT, Stock Forum) announced after Tuesday’s market close that it has encountered “significant basement-hosted uranium mineralization” in two diamond drill holes recently completed during the summer 2008 drill program on its 90%-owned Midwest NorthEast project in northern Saskatchewan

The company says drill hole MWNE-08-40 intersected a 66.1 metre core-length interval having radioactivity readings ranging from 300 counts per second to greater than 9,999 cps. Within this zone, seven individual zones of highly-radioactive mineralization were encountered. "The mineralization in MWNE-08-40 is estimated visually to be the best we have intersected to date within the Roughrider Zone," said Alistair McCready, senior project geologist.

Meanwhile, drill hole MWNE-08-42 intersected a 5.3 metre mineralized core-length interval having radioactivity readings ranging from 200 cps to greater than 9,999 cps. Within this zone, a 1.4 m of highly radioactive mineralization was encountered at a core length of 277.8 m corresponding to a vertical depth of 218 m. Step-out drill hole MWNE-08-42 extends the Roughrider Zone a further 15 metres to the northeast, says Hathor.

Hathor says its summer diamond drill program has now ended, with thirteen drill holes totalling 5,296 metres completed, and anomalous radioactivity encountered in eleven holes. Terra Ventures (TSX: V.TAS, Stock Forum) also owns a 10% interest in the property.

Following the news, posters on the Hathor Exploration Bullboard - which was the second most posted board on Stockhouse Wednesday morning - were discussing the results and the issue of trading halts.

mrcashflow commented:

This latest release of news by HAT does not warrant any halt of trading. The results, although very encouraging are still only visual. There is nothing concrete at this point in time to confirm this visual showing. The company is only telling the market they may have found more promising results. I am sure, as others here very well know, this news is positive. HAT continues to expand the size of this resource, and eventually the market will give this company it's true valuation. In the mean time one must have extreme patience during these very turbulent times in the market[sic]…

Shares of Hathor Exploration were up 1.2% to $3.31 Wednesday.

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