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 June 16, 2010, Hathor reported:
"Hathor Exploration Limited (HAT:TSX-V) is pleased to announce strong initial results from ongoing metallurgical test work for the Roughrider uranium deposit on it's Midwest Northeast property, northeastern Athabasca Basin, northern Saskatchewan.
Composite samples from six mineralized drill holes in the central part of the deposit were used for leach tests, solvent extraction and uranium precipitation. Figure 1 shows the hole locations. Hole numbers are: MWNE-08-12, 24, 28, 30, 32 and 33. The samples used for the leach tests were grouped into three composites designed to provide a range of head grades. Table 1 below summarizes composite head grades achieved, and leach recoveries obtained.
Table 1. Geochemical Analyses and Summary Leach Results
| Analyte |
Unit |
Composite 1 |
Composite 2 |
Composite 3 |
| |
|
|
2 |
3 |
| U3O8 |
wt% |
6.11 |
2.68 |
0.62 |
| Ag |
g/t |
34 |
3.1 |
12 |
| As |
wt% |
0.052 |
0.15 |
0.0065 |
| Co |
wt% |
0.022 |
0.021 |
0.0036 |
| Cu |
wt% |
0.077 |
0.12 |
0.042 |
| Mo |
wt% |
0.24 |
0.071 |
0.17 |
| Ni |
wt% |
0.025 |
0.066 |
0.0078 |
| Pb |
wt% |
1.98 |
0.085 |
0.045 |
| Se |
wt% |
0.0029 |
0.0016 |
<0.0001 |
| Zn |
wt% |
0.046 |
0.018 |
<0.004 |
Sample
Length |
|
24.1 m |
22 m |
31.5 m |
U3O8
Recovery |
|
98.9% |
98.1% |
97.5% |
The composites confirm that Roughrider, on a deposit scale, contains low levels of deleterious elements such as arsenic, selenium and base metals. This is a significant positive attribute for the deposit with respect to milling.
The optimum leach conditions determined for Roughrider are similar to optimized mill parameters typical of northern Saskatchewan uranium operations. They include:
- leach temperature of 50 deg. C,
- 12 hour leach retention time,
- free sulphuric acid concentration of 20 g/L
- oxidation potential of approximately 500 mV with sodium chlorate oxidant addition of 1 to 5 kg/t.
Preliminary analysis of the uranium product from the leach test program showed that uranium produced from Roughrider mineralization would meet typical refinery and enrichment product quality specifications for market grade yellow cake. A small sample of yellow cake from this metallurgical programme is displayed on the Hathor website.
In addition to leach tests, four composite samples from one drill hole (drill hole MWNE-09-85) were used to establish a work index for grinding (ball mill work index). The Work Index tests show that the Roughrider mineralization has a low energy requirement compared to other northern Saskatchewan uranium ores. Ball mill Bond Work Index values ranged from 7.2 to 11.1 kWh/t for four different rock types tested.
Metallurgical work is currently ongoing. Results reported here are summarized in the 43-101 compliant, independent technical report completed on the Roughrider uranium deposit by Scott Wilson Roscoe Postle Associates Inc. (dated December 18, 2009, and files on SEDAR). Results yet to be reported include: mineralogical examination; confirmation leach tests; uranium upgrading and product precipitation, and; characterization of tailings and effluent treatment.
Melis Engineering Ltd, recognized specialists in uranium processing, have concluded that "Uranium from the Roughrider mineralization can be recovered under relatively mild leach conditions producing a product of acceptable quality using typical northern Saskatchewan uranium process conditions. Testwork is continuing to further define process and waste treatment parameters".
Ownership
Terra Ventures Inc. owns a qualified 10% interest in the Midwest Northeast property, carried through the completion of a positive feasibility study.
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 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, President