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12.05.2011
Terra Ventures Inc.: Hathor Intersects 42.8 m at 3.26 % U3O8 to Solidify the Potential of the Far East Zone at Roughrider
Terra Ventures Inc.: Hathor Intersects 42.8 m at 3.26 % U3O8 to Solidify the Potential of the Far East Zone at Roughrider
Vancouver, May 11, 2011 - Terra Ventures Inc. (TSX-V: TAS) is pleased to provide an update on the Midwest Northeast Uranium property in which Terra owns a 10% production carried interest. In a press release dated May 11, 2011 Hathor reported:
“Hathor Exploration Limited (HAT:TSX) is pleased to announce the final assay results from the 2011 winter drill program at the Roughrider uranium deposit in the Athabasca Basin, Saskatchewan. The potential for the Far East discovery is solidified by the number and quality of drill hole intersections. Drilling this summer at Roughrider will focus on the potential of the Far East Zone.
A total of 19,244 metres were completed in 49 drill holes during the winter program (Figure 1), of which 17 were completed at Far East for a total of 7,587 m (Figure 2). Fifteen of seventeen holes at Far East intersected uranium mineralization over significant widths. Summary composite grade and thickness data are highlighted below. Complete uranium assays are in Table 1 which follows the figures; complete chemical analyses are provided on the Company’s website at www.hathor.ca.
 MWNE-11-698: 42.8 m at 3.26 % U3O8
incl. 6.5 m at 10.47 % U3O8
 MWNE-11-687: 45.5 m at 2.05 % U3O8
 MWNE-11-683: 40.5 m at 1.12 % U3O8
 MWNE-11-692A: 21.0 m at 3.42 % U3O8
and 4.0 m at 5.00 % U3O8
 MWNE-11-667: 37.5 m at 1.57 % U3O8
 MWNE-11-694: 51.0 m at 1.69 % U3O8
 MWNE-11-696: 12.7 m at 3.10 % U3O8
The Far East Zone is located 40 m east of the East Zone (Figure 2). Based on a robust geological model, delineation of the Far East Zone advanced rapidly following its discovery in February in drill hole MWNE-11-667. Key attributes of the Far East Zone include:
 Mineralization is continuous for 40 m along strike in a north easterly direction (Figure 2).
 Mineral zone is thick, with six oblique intersections of greater than 30 m in core length (cross section, Figure 3). Apparent thickness averages 20 to 30 metres.
 Mineralization dips moderately to the northeast, similar to the East Zone, and is continuous for 60 metres in the down-dip dimension (long section, Figure 4)
 Mineralization is hosted exclusively within basement rocks, including Wollaston Group pelitic gneiss and graphitic pelitic gneiss, and the Roughrider hanging wall and foot wall wedges of granite and granitic gneiss.
 Overall depth is around 350 m, and generally about 150 m below the unconformity.
 Mineralization is monometallic, with very low base metal contents and extremely low contents of deleterious elements such as arsenic and selenium (Table 1).
 Locally massive and semi-massive uranium mineralization in association with pervasive clay and/or hematite alteration (Photo 1 and Photo 2, drill holes MWNE-11-696 and 694).
 Multiple fluid and fault events evident in mineralization and alteration textures in drill core (Photo 1, MWNE-11-696).
Figure 5 shows the spatial relationship in 3-D between Far East and the original West and East Zones at Roughrider. Mineralization at Far East is open both to the east and to the south, and it represents significant upside to the overall resource potential of the Roughrider uranium deposit. This potential at Far East will be the focus of the upcoming summer drill program at Roughrider.
Winter Program Summary
As previously released, the 2011 winter drill program did not intersect any significant mineralization in reconnaissance holes away from the Roughrider uranium deposit. At the East Zone, infill drill holes contained variable amounts of uranium mineralization. When available, these assays will be incorporated into an updated resource model for the East Zone; a preliminary model based on 2010 data has been developed and is currently being evaluated. Overall, the Company’s objective is to complete in the fall of 2011 an updated resource estimate for the Roughrider uranium deposit that will encompass all three currently identified zones, West, East and Far East.
Property Description
The Midwest Northeast Property is within the main uranium-producing eastern corridor of the Athabasca Basin. The Property comprises 3 claims covering 543 ha. Infrastructure is excellent. The Property is connected to Highway 955 by a 6 km winter road. The property is 8.5 km north of the community of Points North and the Points North commercial airport, the main service hub for northeastern Saskatchewan. It is within 25 km of operating uranium mine, mill and tailings facilities established at Rabbit Lake and McClean Lake during the past 35 years of production in the Athabasca.
Terra Ventures Inc. owns a qualified 10% interest in the largest claim on the Property, carried to the completion of a positive feasibility study and announcement of intent for commercial production. Terra and Hathor recently announced (May 9, 2011) execution of a definitive Plan of Arrangement, which remains subject to a number of conditions including, but not limited to, receipt of all regulatory, court and shareholder approvals, and will result in consolidation of 100% ownership of the Roughrider uranium deposit.
Alistair McCready, Ph.D., P.Geo., Hathor's V.P. Exploration with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's President and Chief Executive Officer, are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the technical disclosure contained in this news release.”
Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, prospective exploration projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability – are the foundation for growth in the uranium business.
- Figure 1. Plan map with locations of all drill holes for winter 2011 drill program at Roughrider.
- Figure 2. Plan map with location of winter 2011 drill holes at Roughrider, including collar locations for vertical holes at Far East Zone, and surface traces of inclined holes at East Zone.
- Figure 3. Cross section, Far East Zone at Roughrider, Grid Line 110 East, view northeast.
- Figure 4. Long section, Far East Zone at Roughrider, view north westerly.
- Figure 5. Three dimensional model for Roughrider Uranium Deposit, viewed north.
- Photo 1. Massive pitchblende mineralization (upper photo), and remobilized breccias textures in uranium mineralization and clay alteration (lower photo), drill hole MWNE-11-696
- Photo 2. Pervasive replacement network of uranium mineralization, clay and hematite alteration, drill hole MWNE-11-694. Lower image is close-up of upper image.
Please find all Figures and Photos under the following link: http://www.irw-press.com/dokumente/TAS_Figures_110511.pdf
- Table 1. Uranium geochemical data, Far East Zone, winter 2011 drilling, Roughrider Project
Please find the table under the following link: http://www.irw-press.com/dokumente/TAS_Tables_110511.pdf
For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
“Gunther Roehlig”
Gunther Roehlig, President
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
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Vancouver, May 11, 2011 - Terra Ventures Inc. (TSX-V: TAS) is pleased to provide an update on the Midwest Northeast Uranium property in which Terra owns a 10% production carried interest. In a press release dated May 11, 2011 Hathor reported:
“Hathor Exploration Limited (HAT:TSX) is pleased to announce the final assay results from the 2011 winter drill program at the Roughrider uranium deposit in the Athabasca Basin, Saskatchewan. The potential for the Far East discovery is solidified by the number and quality of drill hole intersections. Drilling this summer at Roughrider will focus on the potential of the Far East Zone.
A total of 19,244 metres were completed in 49 drill holes during the winter program (Figure 1), of which 17 were completed at Far East for a total of 7,587 m (Figure 2). Fifteen of seventeen holes at Far East intersected uranium mineralization over significant widths. Summary composite grade and thickness data are highlighted below. Complete uranium assays are in Table 1 which follows the figures; complete chemical analyses are provided on the Company’s website at www.hathor.ca.
 MWNE-11-698: 42.8 m at 3.26 % U3O8
incl. 6.5 m at 10.47 % U3O8
 MWNE-11-687: 45.5 m at 2.05 % U3O8
 MWNE-11-683: 40.5 m at 1.12 % U3O8
 MWNE-11-692A: 21.0 m at 3.42 % U3O8
and 4.0 m at 5.00 % U3O8
 MWNE-11-667: 37.5 m at 1.57 % U3O8
 MWNE-11-694: 51.0 m at 1.69 % U3O8
 MWNE-11-696: 12.7 m at 3.10 % U3O8
The Far East Zone is located 40 m east of the East Zone (Figure 2). Based on a robust geological model, delineation of the Far East Zone advanced rapidly following its discovery in February in drill hole MWNE-11-667. Key attributes of the Far East Zone include:
 Mineralization is continuous for 40 m along strike in a north easterly direction (Figure 2).
 Mineral zone is thick, with six oblique intersections of greater than 30 m in core length (cross section, Figure 3). Apparent thickness averages 20 to 30 metres.
 Mineralization dips moderately to the northeast, similar to the East Zone, and is continuous for 60 metres in the down-dip dimension (long section, Figure 4)
 Mineralization is hosted exclusively within basement rocks, including Wollaston Group pelitic gneiss and graphitic pelitic gneiss, and the Roughrider hanging wall and foot wall wedges of granite and granitic gneiss.
 Overall depth is around 350 m, and generally about 150 m below the unconformity.
 Mineralization is monometallic, with very low base metal contents and extremely low contents of deleterious elements such as arsenic and selenium (Table 1).
 Locally massive and semi-massive uranium mineralization in association with pervasive clay and/or hematite alteration (Photo 1 and Photo 2, drill holes MWNE-11-696 and 694).
 Multiple fluid and fault events evident in mineralization and alteration textures in drill core (Photo 1, MWNE-11-696).
Figure 5 shows the spatial relationship in 3-D between Far East and the original West and East Zones at Roughrider. Mineralization at Far East is open both to the east and to the south, and it represents significant upside to the overall resource potential of the Roughrider uranium deposit. This potential at Far East will be the focus of the upcoming summer drill program at Roughrider.
Winter Program Summary
As previously released, the 2011 winter drill program did not intersect any significant mineralization in reconnaissance holes away from the Roughrider uranium deposit. At the East Zone, infill drill holes contained variable amounts of uranium mineralization. When available, these assays will be incorporated into an updated resource model for the East Zone; a preliminary model based on 2010 data has been developed and is currently being evaluated. Overall, the Company’s objective is to complete in the fall of 2011 an updated resource estimate for the Roughrider uranium deposit that will encompass all three currently identified zones, West, East and Far East.
Property Description
The Midwest Northeast Property is within the main uranium-producing eastern corridor of the Athabasca Basin. The Property comprises 3 claims covering 543 ha. Infrastructure is excellent. The Property is connected to Highway 955 by a 6 km winter road. The property is 8.5 km north of the community of Points North and the Points North commercial airport, the main service hub for northeastern Saskatchewan. It is within 25 km of operating uranium mine, mill and tailings facilities established at Rabbit Lake and McClean Lake during the past 35 years of production in the Athabasca.
Terra Ventures Inc. owns a qualified 10% interest in the largest claim on the Property, carried to the completion of a positive feasibility study and announcement of intent for commercial production. Terra and Hathor recently announced (May 9, 2011) execution of a definitive Plan of Arrangement, which remains subject to a number of conditions including, but not limited to, receipt of all regulatory, court and shareholder approvals, and will result in consolidation of 100% ownership of the Roughrider uranium deposit.
Alistair McCready, Ph.D., P.Geo., Hathor's V.P. Exploration with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's President and Chief Executive Officer, are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the technical disclosure contained in this news release.”
Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, prospective exploration projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability – are the foundation for growth in the uranium business.
- Figure 1. Plan map with locations of all drill holes for winter 2011 drill program at Roughrider.
- Figure 2. Plan map with location of winter 2011 drill holes at Roughrider, including collar locations for vertical holes at Far East Zone, and surface traces of inclined holes at East Zone.
- Figure 3. Cross section, Far East Zone at Roughrider, Grid Line 110 East, view northeast.
- Figure 4. Long section, Far East Zone at Roughrider, view north westerly.
- Figure 5. Three dimensional model for Roughrider Uranium Deposit, viewed north.
- Photo 1. Massive pitchblende mineralization (upper photo), and remobilized breccias textures in uranium mineralization and clay alteration (lower photo), drill hole MWNE-11-696
- Photo 2. Pervasive replacement network of uranium mineralization, clay and hematite alteration, drill hole MWNE-11-694. Lower image is close-up of upper image.
Please find all Figures and Photos under the following link: http://www.irw-press.com/dokumente/TAS_Figures_110511.pdf
- Table 1. Uranium geochemical data, Far East Zone, winter 2011 drilling, Roughrider Project
Please find the table under the following link: http://www.irw-press.com/dokumente/TAS_Tables_110511.pdf
For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
“Gunther Roehlig”
Gunther Roehlig, President
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA88102A1093">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA88102A1093</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.