Projects

The 2,166 acre Lac Kachiwiss property is Terra's most advanced property at this time due to its historic exploration and historic resource estimate. The mining community has increasingly recognized the potential for large tonnage, low-grade uranium deposits in Quebec.

This property was explored by Getty Mineral Company Ltd., a wholly owned subsidiary of Getty Oil, from 1975-1978, and they advanced the property to a historic resource estimate based on 28 diamond drill holes. It was abandoned in 1979 when the Three Mile Island disaster in the eastern United States resulted in the price of uranium dropping excessively. Low-grade uranium deposits are usually not economically viable in times of low uranium prices, but the property is of interest again now due to the strong uranium market.

The Lac Kachiwiss property is located 20 kilometers away from the Sept-Iles port and is within 5 kilometers of power and the Labrador railway. The Sept-Iles port is used for shipping iron ore, and the port has associated infrastructure for ore transportation. Access to the property for exploration is affected by the winter season, as are many properties in Canada. The topography changes 200 meters on the property, and the majority of the identified mineralized zone occurs on a rugged hill.

Lac Kachiwiss is referred to as a "Rossing-type" uranium deposit. The Rossing Uranium Mine, located in Namibia, Africa, is a large tonnage, low-grade uranium mine that has been operating since 1976. Total production plus current reserves is estimated to be 300 million tonnes at 0.33-0.77 lbs U3O8/tonne (0.015%-0.03% U3O8). Low-grade deposits may not be economical to develop and produce in times of low uranium prices and a weak market, but they are of interest now in today's strong uranium market. Quebec's North Shore is known to have a number of low-grade uranium deposits hosted in pegmatite rocks, similar to the geology of the Rossing Mine. Getty Minerals exploration identified disseminated uranium mineralization within pegmatite rocks. Getty Mines Ltd defined a deposit area based on 28 diamond drill holes. It was noted that there was potential to increase the deposit size, as it is open to the east, west, and at depth. Previous work by Getty Mines Ltd. suggests that the configuration of the mineral zone is such that open-pit mining could be suitable, if a mine was developed.

This property has a historic resource estimate of 18.3 million tons (16.1 million metric tonnes) grading 0.31 lbs U3O8/ton (0.015% U3O8) as calculated by Getty Minerals Company in 1978. This is a contained value of 5.67 million pounds of uranium (non 43-101 compliant).