This new airborne magnetic data will be used together with recently acquired electromagnetic (EM) and gravity data to identify the best targets for an aggressive diamond drill program planned for this winter.
The Henday property has exceptional potential to host shallow, high-grade uranium deposits and is located along a northeast trend hosting the AREVA-operated Midwest Lake deposit (41 million lbs. U3O8 at an average grade of 5.5%) and Hathor Exploration’s Roughrider Zone. At Henday, the sandstone thickness averages only 160 metres, making such a target amenable to open pit mining operations.
Under terms of the option, Hathor Exploration must spend $3.5 million in exploration over the next three years to earn a 60% interest in the project. Forum is the operator of the Henday project.
