Terra Ventures Inc. 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 21,
2010, Hathor reported:
"Hathor Exploration Limited (HAT: TSX-V) is pleased to release
the final batch of scintillometer data for its 27,000 m winter drill
program for 2010 at its Midwest Northeast property in northern
Saskatchewan. This release covers the final 14 drill holes completed
on the Roughrider East discovery.
First pass drilling at Roughrider East successfully identified
anomalous radioactivity and visible pitchblende in each of five drill
fences completed on 20 metre step-outs from the original discovery
hole at Roughrider East, providing a preliminary strike extent of
some 100 m back towards the Roughrider uranium deposit. A series of
core pictures from three drill holes (Photos 1, 2, 3, 4, 5 & 6) show
hematite-illite-pitchblende "worm rock" intersected in
three separate holes on fences 60 m, 80 m and 100 m west respectively
of the discovery hole at Roughrider East. Detailed follow-up drilling
will be planned once all geochemical data are obtained.
Summary Data
Figure 1 shows the 400 m strike length covering the Roughrider
uranium deposit and the Roughrider East discovery. Of the 77 holes
drilled for 26,928 metres during the 2010 winter program (see News
Release dated April 13, 2010), 30 holes were on Roughrider East for a
total of 11,951 m (Figure 2). Preliminary results for drill holes
MWNE-10-600C to MWNE-10-615 at Roughrider East were released on
February 25 and March 3, 2010. This release covers drill holes
MWNE-10-616 to MWNE-10-629. Assay results for complete holes at
Roughrider East will be released when available.
The exploration strategy at Roughrider East this winter was
two-fold:
1. High density drilling (6 or 8 holes) on one or two drill fences to start
the program, in order to both prove the initial discovery, and to
provide sufficient data to identify the geological controls on
mineralization. Successful results on both objectives were released Feb.
25 and March 3.
2. Low density drilling (2 or 3 holes) on lateral step-out fences (20m) in
order to provide a first-pass test of the strike potential of the
discovery. This new release describes these results.
Anomalous radioactivity was intersected in 25 of the 30 holes drilled
at Roughrider East this winter. Off-scale radioactivity was
intersected in 14 of the 30 holes drilled at Roughrider East this
winter.
Overall, uranium intersections in the final four fences are not as
broad as those seen on the detailed fences completed first (e.g. 81.5
m of 1.59 % U3O8, including a 13.5 m interval of 6.52 % U3O8 in Hole
MWNE-10-607; see News Release dated March 3, 2010). However, the
"first-pass" nature of this low density drilling is
illustrated in the cross-sections in Figure 3, Figure 4 & Figure 5
which show that on each fence, mineralization is not fully tested,
open in all three directions: 1. up dip; 2. down dip, and; 3. at the
unconformity.
Mineralization and alteration is hosted in basement pelitic gneisses
and Hudsonian pegmatites, 50 m below the unconformity on average.
Anomalous radioactivity within a wider zone of alteration was
intersected over the following lengths from each of the 4
fences:
-- 23.9 m over 69.15 m in hole MWNE-10-624B on 40 m step out fence from
Hole 170
-- 8.75 m over 21.7 m in hole MWNE-10-622 on 60 m step out fence from Hole
170
-- 9.7 m over 18.4 m in hole MWNE-10-626A on 80 m step out fence from Hole
170
-- 3.7 m over 9.3 m in hole MWNE-10-629 on 100 m step out fence from Hole
170
Detailed follow-up drilling is required to fully test the extent of
mineralization seen on each fence, and to fully evaluate the level of
continuity evident on the plan maps in Figures 1 and 2. Two drill
rigs have been left on site to be used for continued drilling planned
for this summer.
Overall Potential
The distance between the east end of Roughrider and the 100 m
step-out at Roughrider East is approximately 100 m, as shown on
Figure 1. Drill hole MWNE-09-156, a shallow angle hole designed to
test the Roughrider deposit from land intersected immediately below
the unconformity visible pitchblende mineralization which graded 1.16
% U3O8 over 1m, within a broader zone of alteration approximately 75
m wide. The alteration spans the unconformity (231 m), from the lower
Athabasca sandstone to the upper basement rocks (from 177 to 258 m).
There are elevated uranium and pathfinder element values in
geochemical samples across 40 metres of the interval, from
approximately 210 to 250 m. This drill hole has not been followed-up,
and underscores the potential for 400 m of continuity spanning the
Roughrider uranium deposit and Roughrider East.
Further, and also shown on Figure 1. The potential eastward from the
2009 discovery drill hole MWNE-09-170, has yet to be tested.
A capsule description of the radioactivity results for each of the
final 14 holes completed at Roughrider East is below. Complete
scintillometer data sets for the drill holes are in Table 1 at the
Company's website at www.hathor.ca.
Individual Drill Hole Radioactivity Summaries: Roughrider East Zone
Drill hole MWNE-10-616, collared at -70 degrees to 155 degrees,
intersected 3.7 m of anomalous radioactivity (greater than 500 cps)
over a zone of 9.7 m. The most intense radioactivity occurs at 327.5
m. The anomalous zone includes a total of 0.2 m of strong
radioactivity, reaching a maximum of 5000 cps.
Drill hole MWNE-10-617, collared at -85 degrees to 155 degrees,
intersected 7.1 m of anomalous radioactivity (greater than 500 cps)
over two zones of 14.4 m and 8.9 m. The anomalous zones include a
total of 0.4 m of strong radioactivity (5000 to 9998 cps), reaching a
maximum of 5000 cps.
Drill hole MWNE-10-618A, collared at -65 degrees to 155 degrees,
intersected 7.9 m of anomalous radioactivity (greater than 500 cps)
over a zone of 27.0 m. The most intense radioactivity occurs at 290
m. The anomalous zone includes a total of 0.4 m of strong
radioactivity (5000 to 9998 cps), reaching a maximum of 7000 cps.
Drill hole MWNE-10-619, collared at -78 degrees to 155 degrees,
intersected 2.7 m of anomalous radioactivity (greater than 500 cps)
over a zone of 21.4 m. The most intense radioactivity occurs between
279.9 and 280.2 m. The anomalous zone includes a total of 0.1 m of
off-scale radioactivity (greater than 9999 cps) and 0.2 m of strong
radioactivity (5000 to 9998 cps).
Drill hole MWNE-10-620, collared at -60 degrees to 155 degrees,
intersected 1.1 m of anomalous radioactivity (greater than 500 cps)
over a zone of 1.5 m. The strongest radioactivity encountered in this
hole reached a maximum of 1000 cps.
Drill hole MWNE-10-621, collared at -77 degrees to 153 degrees,
intersected 3.8 m of anomalous radioactivity (greater than 500 cps)
over a zone of 37.0 m. The most intense radioactivity occurs at 256.2
m, though the mineralization is spread between 4 distinct zones. The
anomalous zones include a total of 0.2 m of strong radioactivity
(5000 to 9998 cps) and reach a maximum of 5000 cps.
Drill hole MWNE-10-622, collared at -65 degrees to 155 degrees,
intersected 8.75 m of anomalous radioactivity (greater than 500 cps)
over a zone of 21.7 m. The most intense radioactivity occurs between
263.6 and 267.0 m. The anomalous zone includes a total of 0.5 m of
off-scale radioactivity (greater than 9999 cps) and 0.55 m of strong
radioactivity (5000 to 9998 cps).
Drill hole MWNE-10-623, collared at -74 degrees to 155 degrees,
intersected 1.3 m of anomalous radioactivity (greater than 500 cps)
over a zone of 8.2 m. The most intense radioactivity encountered
reaches a maximum of 1000 cps.
Drill hole MWNE-10-624B, collared at -85 degrees to 155 degrees,
intersected 23.9 m of anomalous radioactivity (greater than 500 cps)
over two zones, of 10.75 m and 58.4 m. The most intense radioactivity
occurs between 270.75 and 271.35 m, and between 294.1 and 297.0 m.
The anomalous zones include a total of 0.4 m of off-scale
radioactivity (greater than 9999 cps) and 0.9 m of strong
radioactivity (5000 to 9998 cps).
Drill hole MWNE-10-625, collared at -65 degrees to 155 degrees,
intersected 8.15 m of anomalous radioactivity (greater than 500 cps)
over a zone of 25.8 m. The most intense radioactivity occurs between
281.0 and 287.5 m. The anomalous zone includes a total of 0.35 m of
off-scale radioactivity (greater than 9999 cps), and 0.1 m of strong
radioactivity (5000 to 9998 cps).
Drill hole MWNE-10-626A, collared at -85 degrees to 155 degrees,
intersected 9.7 m of anomalous radioactivity (greater than 500 cps)
over a zone of 18.4 m. The most intense radioactivity occurs between
272.8 and 277.9 m. The anomalous zone includes a total of 1.8 m of
off-scale radioactivity (greater than 9999 cps), and 0.85 m of strong
radioactivity (5000 to 9998 cps).
Drill hole MWNE-10-627, collared at -70 degrees to 155 degrees,
intersected 1.7 m of continuous anomalous radioactivity (greater than
500 cps). The anomalous zone includes a total of 0.2 m of strong
radioactivity (5000 to 9998 cps), reaching a maximum of 6500 cps.
Drill hole MWNE-10-628, collared at -63 degrees to 155 degrees,
intersected 1.5 m of anomalous radioactivity (greater than 500 cps),
over a zone of 3.5 m. The most intense radioactivity encountered
reaches 1200 cps.
Drill hole MWNE-10-629, collared at -63 degrees to 155 degrees,
intersected 3.75 m of anomalous radioactivity (greater than 500 cps)
over a zone of 9.3 m. The most intense radioactivity occurs between
272.4 and 274.2 m. The anomalous zone includes a total of 0.4 m of
off-scale radioactivity (greater than 9999 cps), and 0.05 m of strong
radioactivity (5000 to 9998 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, carried to the
completion of a feasibility study 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.
On behalf of the board of directors of
TERRA VENTURES INC.
Gunther Roehlig, President