Terra Ventures Inc. (TSX VENTURE: 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
September 28, 2010, Hathor reported:
"Hathor Exploration Limited (TSX VENTURE: HAT) announces the
completion of the 2010 summer drill program at its Midwest
Northeast property in the Athabasca Basin, Saskatchewan. Successful
infill and extension drilling adds numerous intersections of
massive and semi-massive pitchblende to both the Roughrider and
Roughrider East uranium deposits; two examples are below.
- Roughrider East - Hole MWNE-10-656A (Figure 1, Photo 1) - 8.7
m off-scale radioactivity and pitchblende mineralization within
21.5 m of anomalous radioactivity
- Roughrider - Hole MWNE-10-228 (Figure 2, Photo 2) - 2.3 m
off-scale radioactivity and pitchblende mineralization within 11.3
m of anomalous radioactivity
Overall, the Roughrider system remains open. Aggressive drilling
will continue this winter.
2010 Summer Program Summary
The 2010 summer program utilized three drill rigs. A total of
18,840 metres were completed in 52 drill holes (Figure 3). Of
those, 21 holes were completed on Roughrider, including two on an
aero magnetic anomaly 200m to the northeast along-strike. A total
of 31 drill holes were completed on Roughrider east, including two
60 m along-strike to the west in "the Gap", and seven holes in two
transects across the resistivity anomaly to the south.
This News Release covers all drill holes completed at Roughrider
this summer, and the final seven drill holes at Roughrider East not
included in the previous News Release dated Sept. 1, 2010.
Radioactivity summaries of individual drill holes are provided at
the end of this release. Complete scintilometer data are in Table 1
and Table 2 available on the Company's website at
www.hathor.ca.
Roughrider is proving to be a robust uranium mineralizing
system.
From approximately 220 drill holes that pierce the Roughrider
deposit:
-- 125 drill holes have massive to semi massive pitchblende mineralization;
-- there are 607 assays from individual half metre samples with greater
than 3% U308 ;
-- 185 drill holes have anomalous radioactivity.
Drill intersections from 2010 improve significantly the
continuity of mineralization at Roughrider. Figure 4 shows in two
dimensions the continuity of the core zones of mineralization
across the 200 metres of strike at Roughrider. The Company
continues to develop three-dimensional block solid models for
Roughrider based on the rigour of this detailed 2-D section work,
and the new infill results. An updated NI43-101-compliant resource
model for the Roughrider deposit later this fall.
Roughrider East is proving to have significant mineral
potential.
The outline of Roughrider East shown Figure 5 encompasses
mineralization intersected in drill holes across 160 metres of
strike, from Line 100W to Line 60E. Overall, from a total of 53
drill holes:
-- 27 drill holes have visible semi-massive to massive pitchblende.
-- 47 drill holes have anomalous radioactivity
The Company is currently developing a detailed outline of
mineral zones in two-dimensions, on cross-sections spaced 10 m
apart along the core 120m of strike. A three-dimensional block
solid model will be developed for Roughrider East once assays are
received from this summer's drilling; a NI43-101-compliant resource
model for Roughrider East will be considered pending this work.
Figure 6 schematically summarizes the spatial relationship of
alteration and mineralization discovered to date on the property.
Priorities for drilling this winter will include:
-- Systematic drilling of "the Gap" west of Roughrider East where two out
of three drill holes completed to date have intersected uranium
mineralization across 1-2 metres immediately below the unconformity.
-- Further step-out drilling to the east of Roughrider East where
mineralization remains open.
-- Further evaluation of the alteration south and west of Roughrider East
via reconnaissance-scale drill testing of the 700 m resistivity anomaly
along the Midwest Trend.
-- Test the alteration associated with the aeromagnetic anomaly 200m along-
strike to northeast of the Roughrider Deposit.
Individual Drill Hole Radioactivity Summaries:
Roughrider Deposit: Infill Holes.
Drill hole MWNE-10-220, which tested the down-dip extension of
mineralization on Line 20E, intersected 11.1 m of anomalous
radioactivity over a 72.1 m interval (223.0 to 295.1 m), including
a main zone of radioactivity from 237.9 to 245.0 m. This main zone
intersected a total of 1.25 m of off-scale radioactivity (greater
than 9999 cps).
Drill hole MWNE-10-221, which tested the down-dip extension of
mineralization on Line 30E, intersected 0.4 m of anomalous
radioactivity from 254.6 to 255.0 m. The strongest radioactivity
intersected reached up to 6100 cps.
Drill hole MWNE-10-226, an infill hole on Line 10W, intersected
0.3 m of anomalous radioactivity from 225.6 to 225.9 m. The
strongest radioactivity intersected reached up to 950 cps.
Drill hole MWNE-10-227A, an infill hole on Line 10E, intersected
14.4 m of anomalous radioactivity over a 75.6 m interval (from
211.8.0 to 287.4 m), including a main zone of radioactivity from
211.8 to 222.7 m. The main zone intersected a total of 0.5 m of
off-scale radioactivity (greater than 9999 cps).
Drill hole MWNE-10-228, an infill hole on Line 30E, intersected
10.5 m of anomalous radioactivity over a 20.5 m interval (from
223.3 to 253.8 m), including a main zone of radioactivity from
223.3 to 245.7 m. The main zone intersected a total of 1.6 m of
off-scale radioactivity (greater than 9999 cps).
Drill hole MWNE-10-229, an infill hole on Line 30E, intersected
7.2 m of anomalous radioactivity over a 29.8 m interval (from 237.2
to 267.0 m), including two zones of radioactivity from 237.2 to
238.4 m and 254.5 to 262.5 m. The two zones intersected a total of
1.0 m of off-scale radioactivity (greater than 9999 cps).
Drill hole MWNE-10-230, an infill hole on Line 50E, intersected
9.8 m of anomalous radioactivity over a 24.2 m interval (from 248.3
to 272.5 m), including a main zone of radioactivity from 269.9 to
272.5 m. The main zone intersected a total of 0.25 m of off-scale
radioactivity (greater than 9999 cps).
Drill hole MWNE-10-231, was a down-dip infill hole on Line 60E,
intersected 6.0 m of anomalous radioactivity over a 23.4 m interval
(from 246.0 to 269.4 m). The strongest radioactivity intersected
reached up to 8500 cps.
Drill hole MWNE-10-232, was a down-dip extension hole on Line
80E, intersected 0.35 m of anomalous radioactivity at 600 cps.
Drill hole MWNE-10-233A, a down-dip extension hole on Line 50E,
intersected 1.7 m of anomalous radioactivity over a 2.3 m interval
(from 253.7 to 256.0 m). The strongest radioactivity intersected
reached up to 1800 cps.
Drill hole MWNE-10-234 a down-dip extension hole on Line 50E,
intersected 3.25 m of anomalous radioactivity over a 12.95 m
interval (from 245.0 to 257.95 m). The strongest radioactivity
intersected reached up to greater than 9999 cps.
Drill hole MWNE-10-235, an up-dip infill drill hole on Line 80E.
This drill hole did not intersect any significant anomalous
radioactivity.
Drill hole MWNE-10-236, an up-dip drill hole on Line 60E. This
drill hole did not intersect any significant anomalous
radioactivity.
Drill hole MWNE-10-237, an up-dip drill hole on Line 30E,
intersected 0.2 m of anomalous radioactivity over a 2.45 m interval
(from 212.05 to 214.5 m). The strongest radioactivity intersected
reached up to 1200 cps.
Drill hole MWNE-10-238, an up-dip drill hole on Line 50E,
intersected 0.45 m of anomalous radioactivity from 258.5 to 258.95
m. The strongest radioactivity intersected reached up to 700
cps.
Drill hole MWNE-10-239, an up-dip drill hole on Line 0E,
intersected 1.55 m of anomalous radioactivity from 245.0 246.55 m.
The strongest radioactivity intersected reached up to 4000 cps.
Drill hole MWNE-10-240, a down-dip hole on Line 10E, intersected
7.9 m of anomalous radioactivity over a 12.3 m interval (from 227.6
to 239.9 m), including a main zone of radioactivity from 237.65 to
239.9 m. The main zone intersected a total of 0.55 m of off-scale
radioactivity (greater than 9999 cps).
Drill hole MWNE-10-241, a down-dip hole on Line 10E, intersected
9.6 m of anomalous radioactivity over a 15.7 m interval (from 227.4
to 243.1 m), including a main zone of radioactivity from 227.4 to
235.0 m. The main zone intersected a total of 1.25 m of off-scale
radioactivity (greater than 9999 cps).
Drill hole MWNE-10-242B, a magnetic target on Line 40W located
to southwest of the Roughrider deposit, did not intersect any
significant anomalous radioactivity.
Roughrider East; Extension and Infill
Drill hole MWNE-10-652, a 20 m step-out down dip of hole 10-649
on Line 40 E, intersected several discrete zones of variably
anomalous radioactivity. The main zone of anomalous radioactivity
extended from 318.7 to 341.6 m, is found within a wider alteration
zone extending to 372.5 m. The strongest radioactivity intersected
reached up to 1200 cps.
Drill hole MWNE-10-653, a 20 m step-out down dip of hole 10-652
on Line 40 E, did not intersect any significant anomalous
radioactivity.
Drill hole MWNE-10-654, a 20 m down dip of hole 10-651A on Line
60 E, intersected two zones of anomalous radioactivity. The main
zone comprising 17.9 m of anomalous radioactivity is found within a
wider alteration zone of 70.0 m. This main zone contains one 0.2m
interval of off-scale radioactivity (greater than 9999 cps). The
second zone, found below the main zone, is comprised of 2.7 m of
anomalous radioactivity with the strongest intersected
radioactivity of 2500 cps.
Drill hole MWNE-10-655B, which targeted up-dip of hole 10-649 on
Line 50E, intersected several thin discrete zones of anomalous
radioactivity, totalling 3.6 m, over a broader zone of 134.3 m. The
strongest radioactivity intersected reached up to 5000 cps. Due to
drill hole deviation, it pierced the radioactivity on Line 40E. Due
to drill hole deviation, it pierced the radioactivity on Line
40E.
Drill hole MWNE-10-656A, an infill hole between 10-623 and
10-618 on Line 60W intersected two main zones of anomalous
radioactivity and several thin zones of anomalous radioactivity
over a broad zone of 51.7 m. The upper zone comprises 9.6 m of
anomalous radioactivity with the strongest radioactivity
intersected reaching up to 7000 cps. The stronger, lower zone
intersected is the main zone of anomalous radioactivity and totalls
16.9 m of anomalous radioactivity. This zone contained numerous
intervals of off-scale radioactivity (greater than 9999 cps) that
totalled 6.6 m.
Drill hole MWNE-10-657A, an infill hole up-dip of 10-622 on line
60W, intersected several discrete zones of variably anomalous
radioactivity, totalling 4.7 m, over a broader zone of 50.9 m. The
strongest radioactivity intersected was 7000 cps.
Natural gamma emission radiation is measured in counts per
second (cps) using an Exploranium GR-110 hand-held gamma-ray
scintillometer. The reader is cautioned that scintillometer
readings are not directly or uniformly related to uranium grades of
the rock sample measured, and should be used only as a preliminary
indication of the presence of radioactive materials. All
intersections are down-hole, core-length intervals and true
thickness of mineralization is yet to be determined.
Terra Ventures Inc. owns a qualified 10% interest on the
Property, carried to the completion of a positive feasibility study
on the Roughrider Deposit.
Alistair McCready, Ph.D., P.Geo., Hathor's Exploration Manager
with responsibility for all of Hathor's exploration in
Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief
Operating 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, advanced stage 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.
On behalf of the board of directors of
TERRA VENTURES INC.
Gunther Roehlig, President
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.
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.
Contacts: Terra Ventures Inc. Ryan Johnson Investor Relations
1-866-683-0911 www.terrauranium.com
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