VANCOUVER, April 11 /PRNewswire/ - 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 April 11, 2011, Hathor reported:
"Hathor Exploration Limited (TSX: HAT) is pleased to announce the completion of the 2011 winter drill program at Roughrider in the Athabasca Basin, Saskatchewan, and in particular, the confirmation of a third mineral zone in the Roughrider system, named Far East and located east of the previously discovered East Zone. Highlights and key attributes of the Far East Zone include:
- Elevated radioactivity in 15 of 17 drill holes completed at Far East around discovery hole MWNE-11-667, which intersected 1.57% U308 over 37.5 m (Feb. 24, 2011 News Release).
- Nearly continuous radioactivity over drill lengths up to 50 m
- Off-scale radioactive intervals in 13 of the 15 drill holes with anomalous radioactivity, and off-scale radioactive intervals totalling up to 8.9 m in a single hole
- Semi-massive and massive pitchblende mineralization in replacement, vein, fracture lining and breccias textures
- Locally pervasive alteration surrounding basement-hosted mineralization, and also at the unconformity above
- Drill intersections span 45 metres of strike, in an easterly direction, across mineral zones dipping moderately north-northeast; intersections of 30-50 metres are oblique to true thickness
- Mineralization is basement-hosted, up to 200 m below the unconformity, and not restricted to Wollaston Group lithologies
Figure 1 shows all drill holes completed during the winter program. Figure 2 is a more detailed plan map which provides detail of the infill holes completed at East Zone, and delineation holes at Far East Zone. Figure 3 is a cross section along Line 110E, showing three drill hole intersections, and the relationship between alteration and mineralization, including the extensive alteration at the unconformity above; Figure 4 is a zoom in of the same section view as in Figure 3, showing better the detail of radioactive zones. Figure 5 is a long section, with drill hole MWNE-11-683 for cross-reference with the cross sections. Styles of uranium mineralization are shown in Photo 1, Photo 2, Photo 3 and Photo 4.
Overall, the Roughrider Far East zone remains open (untested) to the east, and it will be the focus of an aggressive follow-up drill program this summer. It represents a material development in the resource potential of the overall Roughrider uranium system, as shown in Figure 6.
2011 Winter Program Summary
The 2011winter program utilized three drill rigs. A total of 19,244 metres were completed in 49 drill holes (Figure 3). A breakdown of holes is as follows:
|- Roughrider Far East Zone (Line 80E to Line 130E)||17 drill holes||7,587 m|
|- Roughrider East Zone Infill (Line 100W to Line 70E)||14 drill holes||5,200 m|
|- "Gap" between Roughrider West and East Zones:||9 drill holes||2,768 m|
|(From 110W to 180W)|
|- Reconnaissance, Resistivity and Magnetic targets||9 drill holes||3,689 m|
This News Release covers all drill holes completed at Roughrider this winter. Infill drill holes at East Zone contained variable amounts of mineralization. These assays, when available will be incorporated into the resource model currently being developed and evaluated for the East Zone. Drill holes in the "Gap" contained local radioactivity and trace uranium mineralization, but did not return any material intersections. In addition to a basement target, pervasive alteration at the unconformity was intersected in several of the drill holes. Reconnaissance drill holes on resistivity and magnetic targets elsewhere on the property did not produce any material radioactive intersections, but improved the geological and exploration models for the Roughrider system and the Midwest uranium trend; follow-up drilling this summer will be considered once all geochemical data are in-hand.
Radioactivity summaries of individual drill holes are provided at the end of this release. Complete assays for complete drill holes will be released when available.
Individual Drill Hole Radioactivity Summaries:
Roughrider Far East Zone (80E to 120E)
MWNE-11-661 intersected several zones of discrete radioactivity within a broader interval (233.7 to 395.6 m). The main zone of radioactivity was intersected between 296.0 and 305.4 m, with a total of 1.1 m of radioactivity 'greater than 9999 cps' (>9999 cps) radioactivity.
MWNE-11-663 intersected radioactivity in very discrete zones from 327.0 - 384.6 m. The main zone of radioactivity is between 374.4 and 384.5 m. A total of 0.7 m of radioactivity >9999 cps was intersected in this hole.
MWNE-11-665 intersected intermittent radioactivity between 256.1 and 377.4 m, with three separate zones identifiable. The upper zone extends from 256.1 to 258.0 m, with radioactivity reaching up to 2500 cps. The second zone extends from 298.7 to 303.5, with radioactivity reaching up to 7500 cps. The third, and main zone, extends from 361.6 to- 364.5 m with radioactivity reaching up to >9999 cps.
Assay results from drill hole MWNE-11-667 were previously released on 24th February 2011. This drill hole intersected two core intervals of 16.5 m and 18.0 m of 2.14 % and 1.30 % U3O8 respectively, separated by 3.0 m with an average grade of 0.01 % U3O8, for a composite of 1.57 % U3O8 over 37.5 m.
MWNE-11-671A intersected three main zones of anomalous radioactivity with a broader zone from 237.8 - 404.8 m. The first zone is from 237.8 to 241.8 m, with radioactivity reaching up to 3000 cps. The second zone is from 251.45 to 254.7 m, with radioactivity reaching up to 8000 cps. The third zone is fracture-hosted radioactivity from 404.0 to 404.8 m, with radioactivity up to 1200 cps.
MWNE-11-673 intersected five zones of anomalous radioactivity between 313.0 and 406.3 m. The first zone, from 313.0 - 321.8 m, intersected maximum radioactivity of 9000 cps. The second zone, from 338.9 - 339.3 m, intersected maximum radioactivity of 2200 cps. Zone three, from 349.9 - 351.0 m, intersected maximum radioactivity of 1400 cps. Zone 4, from 399.3 to 401.0 m, has the highest radioactivity of >9999 cps. The fifth zone, from 405.9 to 406.3 m, intersected maximum radioactivity of 750 cps.
MWNE-11-683 intersected numerous of anomalous radioactivity between 216.4 and 393.7 m, including two main broad zones, from 346.1 to 358.15 m, and from 360.0 - 372.3 m. A total of 5.0 m of radioactivity > 9999 cps was intersected in the drill hole, with 2.55 m intersected within the zone that extends from 360.0 to 372.3 m.
MWNE-11-687 intersected several zones of anomalous radioactivity between 317.8 and 394.4 m. The main zone of anomalous radioactivity is from 369.0 to 381.6 m. A total of 4.25 m of radioactivity >9999 cps was intersected in the hole, with 1.25 m of >9999 cps radioactivity within the main zone.
MWNE-11-691A intersected a thin discrete zone of fracture-hosted radioactivity between 409.5 and 409.85 m. The maximum radioactivity intersected in this zone was 550 cps.
MWNE-11-692A intersected several zones of anomalous radioactivity between 291.2 and 397.2 m. The main zone of radioactivity is from 321.6 to 339.8 m. A total of 5.2 m of radioactivity >9999 cps was intersected in this hole, with approximately 3.25 m within the main zone.
MWNE-11-693 intersected several zones of anomalous radioactivity between 317.5 - 396.05 m. Within this broad interval, three zones are identified, the first from 336.0 to 344.2 m, the second from 346.95 to 356.4 m, and the third from 363.05 to 375.3 m. These three zones intersected a total of 1.6 m, 2.45 m and 1.3 m of radioactivity >9999 cps, respectively.
MWNE-11-694 intersected several zones of anomalous radioactivity within a broader interval from 235.3 - 391.1 m. A total of 1.5 m of off scale radioactivity was intersected in this hole. The main zone of radioactivity is between 339.75 and 342.5 m. This zone intersected 0.6 m of radioactivity >9999 cps. The footwall to the main zone contains several discreet fracture-hosted zones of anomalous radioactivity, with maximum radioactivity of 2700 cps.
MWNE-11-695 intersected several zones of radioactivity between 218.7 and 398.3 m. A total of 7.05 m of radioactivity > 9999 cps was intersected. The first broad zone of radioactivity is from 348.0 to 358.15 m and intersected a total of 1.5 m of radioactivity >9999 cps. The second and main zone of radioactivity is from 363.0 to 380.5 m, and intersected a total of 3.4 m of radioactivity >9999 cps. The third broad zone is from 385.7 - 393.65 m and intersected a total of 2.05 m of radioactivity >9999 cps.
MWNE-11-696 intersected several zones of anomalous radioactivity between 305.55 and 392.8 m. The main zone of radioactivity is between 356.15 and 360.8 m. A total of 2.65 m of radioactivity >9999 cps was intersected in this hole, with 0.65 m within the main zone. The remainder of the intense radioactivity is intersected in veins and fracture-hosted zones.
MWNE-11-698 intersected several zones of anomalous radioactivity between 226.6 and 403.8 m. There are three main broad zones of anomalous radioactivity, the first is from 336.25 to 340.35 m, the second zone is from 343.55 to 351.25, and the third zone is from 352.75 to 361.2 m. The three zones contain 0.45 m, 3.4 m, and 4.25 m of radioactivity >9999 cps, respectively.
MWNE-11-699 and MWNE-11-697A did not intersect any anomalous radioactivity.
Roughrider East Zone Infill (100W to 70 E)
MWNE-11-659B intersected three discrete zones of anomalous radioactivity: an upper zone from 254.8 to 256.4 m in granitic gneiss; a main zone from 298.9 to 301.1 m within granitic gneiss; and a thin lower zone of radioactive fault breccia within weakly graphitic pelitic gneiss from 367.2 to 367.5 m. Maximum radioactivity intersected was >9999 cps over 0.1 m.
MWNE-11-660D intersected numerous zones of elevated to highly anomalous radioactivity from 236.8 to 284.7 m. The maximum radioactivity intersected in this drill hole was 3500 - 6500 cps from 273.6 to 273.8 m.
MWNE-11-662 intersected anomalous radioactivity from 253.4 to 265.9 m. The main zone of radioactivity is from 265.15 to 265.9 m, and reached a maximum of radioactivity >9999 cps from 265.6 to 265.7 m.
MWNE-11-664 intersected intermittent anomalous radioactivity from 241.9 - 298.5 m. The main zone of radioactivity is from 272.2 to 281.0 m within granitic gneiss. A total of 1.65 m of radioactivity > 9999 cps was intersected in this hole with 1.35 m within the main zone.
MWNE-11-666 intersected numerous discrete and one zones of radioactivity over a 65.5 m interval (238.45 to 303.95 m). The main, broad zone of radioactivity is between 249.8 and 261.1 m, in which the radioactivity is commonly ≥ 5000 cps. A total of 0.75 m of radioactivity >9999 cps was intersected.
MWNE-11-668 intersected several zones of anomalous radioactivity between 247.2 and 297.35 m. A total of 0.25 m (270.6 to 270.85 m) of radioactivity >9999 cps was intersected.
MWNE-11-669A intersected two discrete zones of weak, fracture hosted radioactivity, 247.0 to 247.65 m and 270.2 to 270.5 m. Maximum radioactivity intersected was 700 cps.
MWNE-11-678 intersected numerous discrete uranium mineralized zones through the basement. The total extent of the uranium is found from 255.0 - 346.8 m. One stronger interval of radioactivity was intersected from 307.4 - 307.7 m.
MWNE-11-680 intersected several thin and one larger zones of radioactivity within a broader intersection of 119.2 m (239.3 - 358.5 m). The main zone of radioactivity extends from 262.5 to 300.9 m. This zone intersected a total of 5.05 m of radioactivity > 9999 cps. The several, thin fracture-hosted zones of radioactivity above and below the main zone have a maximum radioactivity of 2800 cps.
MWNE-11-682 intersected one zone of continuous anomalous radioactivity (266.4 to 269.5 m). Radioactivity is generally 3000 cps, with one interval of 8000 to 9000 cps (267.0 - 267.1 m).
MWNE-11-685 intersected several zones of radioactivity over a broader intersection (317.8 to 394.4 m). The main zone of radioactivity is from 281.45 to 285.3 m, with the strongest radioactivity (3000 to 6500 cps) intersected between 282.8 and 283.0 m.
MWNE-11-689 intersected several zones of anomalous radioactivity between 322.3 and 418.8 m. The main zone of radioactivity is from 322.3 to 324.9 m and intersected 0.1 m of radioactivity >9999 cps.
MWNE-11-670 and MWNE-11-690 did not intersect any anomalous radioactivity.
The Gap (110W to 180W)
MWNE-11-672, MWNE-11-674, MWNE-11-676, MWNE-11-677, MWNE-11-681, MWNE-11-679, MWNE-11-684, MWNE-11-686, and MWNE-11-688 did not intersect any material (>500 cps) radioactivity.
MWNE-11-516 to MWNE-11-521A, which tested a resistivity low to the south of the Roughrider Deposit, did not intersect any anomalous radioactivity.
MWNE-11-522 and MWNE-11-523, which tested a distal area to the northeast of Roughrider Deposit, did not intersect any elevated or anomalous radioactivity.
MWNE-11-675, located approximately 300m to the east of the East Zone, did not intersect any elevated radioactivity.
Natural gamma emission radiation is measured in counts per second (cps) using a SuperSCINT RS-120 hand-held gamma-ray scintillometer. While the upper detection limit of the RS-120 scintillometer is greater than that of the Exploranium GR-110, for continuity purposes, all values than are >9999 cps are continued to be classified as "off-scale". 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.
The Midwest Northeast Property is within the main uranium-producing eastern corridor of the Athabasca Basin. The Property comprises 3 Mineral Leases 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.
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 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.
On behalf of the board of directors of
TERRA VENTURES INC.
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.
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.
SOURCE Terra Ventures Inc.