Hudson Provides Project Update and Confirms Warrant Exerciseadmin
HUDSON RESOURCES INC. report that 676 drill core samples and 16 rock samples have been received for analysis by ALS Chemex in North Vancouver. Hudson expects to provide complete assay results within the next 30 days.
The drill core samples represent 1,184m of drill core (average 1.9m intervals) from Hudson’s three primary REE targets (ST1, ST40 and ST19). In addition to drilling, the company continued to carry out reconnaissance work and collected 16 rock samples from a new REE target area south of the known rare earth zones. During September, Hudson completed 1,331m of drilling, comprising nine diamond drill holes completed over ST1, ST40 and ST19. All three target areas underwent surface exploration earlier in the year and yielded significant REE results. The targets are all coincident with large radiometric anomalies. Maps showing drill locations are available on the Company’s website www.hudsonresources.ca.
On September 11, 2009, the holders of the Company’s common share purchase warrants representing 2,760,000 warrants exercisable into common shares at $0.20 per share, were given notice that the 20 day weighted average trading price exceeded the $0.40 threshold provided for under the warrant indenture. As a result, the warrants holders were given until October 13, 2009 to exercise the warrants or else they would expire. Hudson confirms that all 2,760,000 warrants were exercised, resulting in $552,000 being added to Hudson’s treasury.