Vancouver, March 29,
2010 - 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 March 29,
2010 Hathor reported:
"Hathor Exploration
Limited (HAT:TSX-V) announces the first update, detailing 15 drill
holes, for its 2010 winter drilling program on the Roughrider uranium
deposit at its Midwest Northeast property in northern Saskatchewan.
The Company is extremely pleased with the success of the on-going delineation
drilling.
The 2010 winter drill
program has two objectives: 1. Infill and fully delineate the Roughrider
uranium deposit in order to increase the Initial Resource Model, and;
2. Follow-up on the 2009 discovery at Roughrider East, located 200 m
east of the Roughrider uranium deposit, as shown in Figure 1 on the
Company's website at www.hathor.ca. Both objectives are returning
positive results.
The winter drill program
is ongoing, at the time of writing, 41 drill holes have been completed
on the Roughrider uranium deposit for a total of approximately 13,000
metres, with up to ten additional holes to be completed by the anticipated
demobilization at the end of March. This is in addition to some 12,000
metres already completed at Roughrider East, where drilling is also
ongoing.
Results for drilling
on the Roughrider uranium deposit will be released in four separate
areas, as shown on Figure 2; radioactivity and general geology data
first, to be followed up with assay data when available. This
news release reports on the first area to be completed, Area 3, as shown
on Figure 2. It includes a total of 15 drill holes for a total
of approximately 4,600 metres. The remaining drilling in the current
program will occur exclusively in the other three areas. Results
from those areas will be reported in subsequent releases.
The drill holes in
Area 3 are from the central area of the Roughrider uranium deposit.
They span lines 40E to 70E. As shown on Figure 2, Area 3 is mostly within
the lower grade mineralization shell (<5% uranium oxide), bounded
to the northeast and southwest by the high grade shell (>5% uranium
oxide), as defined by the Initial NI43-101 compliant resource model
("Initial Resource Model") completed by Scott Wilson Roscoe Postle
Associates Inc. (RPA) in December of last year, based on drilling prior
to the summer of 2009. (SEDAR and the Company's website at www.hathor.ca).
The potential to increase
the Initial Resource Model for the Roughrider uranium deposit is underscored
by the highlights bulleted below.
- Intersections of semi-massive
uranium mineralization within the lower grade shell of the Initial Resource
Model.
For example: Hole MWNE-10-179; 22.2 m of nearly continuous elevated
radioactivity, including 5.1 m of >9999 cps (off-scale radioactivity).
* See cross section in Figure 3, and uranium mineralization in
Photo 1.
- Intersections of new
uranium mineralization in two separate areas shown as unmineralized
within the Initial Resource Model.
For example: Hole MWNE-10-187a; 9.3 m of nearly continuous elevated
radioactivity, including 1.8 m of >9999 cps.
* See plan map in Figure 2, and uranium mineralization in Photo
2.
- Intersections of semi-massive
mineralization adjacent to and outside of the Initial Resource Model.
For example: Hole MWNE-10-192; 18.8 m of nearly continuous elevated
radioactivity, including 3.8 m of >9999 cps.
* See cross section in Figure 4, and uranium mineralization in
Photo 3.
A summary of drill
hole results is provided below. A capsule description of the radioactivity
results for each of the 15 holes are in Table 1. Complete scintillometer
data sets for the 15 holes are in Table 2 (see www.hathor.ca).
Summary of Area
3 drill holes:
Line 40E: Drill holes
10-192 and 10-191, were designed to test the mineralization inferred
to be down-dip from drill hole 09-47A. Both drill holes successfully
intersected anomalous radioactivity. This radioactivity, however, was
both much stronger and much wider than that modelled in the Initial
Resource Model. Drill hole 10-195, an infill drill hole between drill
holes 09-47A and 09-44, successfully intersected off-scale radioactivity
within an area previously modelled as lower grade.
Line 50E: Drill holes
10-179, 10-182, and 10-185A, planned as infill holes within the lower
grade mineralization (<5% uranium oxide), successfully intersected
wide intersections of anomalous radioactivity and variable amounts of
off-scale mineralization. Further drilling is still required to
the west of 161C.
Line 60E: Drill holes
196 and 198 successfully intersected off-scale radioactivity within
an area that had been defined by the Initial Resource Model as not having
any mineralization due to a lack of drill information. This area is
now considered infilled. Drill hole 10-177, intended to test the thickness
of the mineralization acutely intersected in drill hole 08-30, successfully
intersected anomalous radioactivity and achieved its aim. Drill holes
10-173 and 10-174 were designed to test for mineralization at the down-dip
northern extent of the deposit. While 10-174 did intersect radioactivity
from 249.80 to 250.80 m within the basement, including intervals of
>9999 cps, these drill holes did not intersect the intended target;
more drilling is required to fully delineate the northern limit of the
deposit.
Line 70E: Drill holes
10-187A and 10-189 were designed to test the inferred mineralization
down dip from 09-88 and 09-110C. Drill hole 10-187A successfully intersected
a thick package of anomalous radioactivity. In contrast, drill hole
10-189, located further down-dip, only intersected a thin zone of anomalous
radioactivity. Drill hole 10-211, successfully identified uranium mineralization
within the second smaller hole internal to the Initial Resource Model
(see Figure 2).
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 10% carried interest in the Midwest NorthEast property.
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.
For further particulars
about Terra Ventures, please contact Gunther Roehlig, President, 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
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While these forward-looking
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the Company does not intend to update any of the forward-looking statements
to conform these statements to actual results.