Terra Ventures Inc.

Terra Ventures Inc.

March 05, 2010 11:15 ET

Terra Ventures Inc.: Hathor Completes the First Drill Fence at the Roughrider Zone East Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2010) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide an update on the Roughrider Zone East Discovery in which Terra owns a 10% production carried interest. In a press release dated March 5, 2010, Hathor reported: Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce the completion of the first 25 m step-out drill fence at the Roughrider Zone East (RRZE) discovery. The drill fence comprises seven holes, with scintillometer counts provided herein for the final three holes. Geology and scintillometer data have been released previously for the first four holes, as have geochemical assays for the first drill hole for which a complete set of assays has been received.

The drill fence of seven drill holes includes MWNE-10-607, MWNE-10-609, MWNE-10-610, and MWNE-10-612 reported on previously, and three new holes reported here, namely MWNE-10-613, MWNE-10-614 and MWNE-10-615. New scintillometre data are included on the Company's website. Highlights of the final three holes of the fence include:

  • Hole 615 intersected 85.1 m of continuously altered rock, including a 23.1 m interval of continuously anomalous radioactivity (>500 cps) with one zone off-scale, and one additional zone of off-scale radioactivity in the lower part.
  • Hole 613 intersected strong alteration and local pitchblende mineralization immediately below the unconformity, which increases the potential for unconformity and/or sandstone-hosted mineralization elsewhere within RRZE.
  • Hole 613 intersected two broad zones of radioactivity totalling 32.6 m within the basement packages; continuous alteration and nearly-continuous radioactivity spans 90.7 metres overall, with off-scale radioactivity occurring in one interval in the upper part and two intervals in the lower part.

This drill fence substantiates the potential of the RRZE discovery. The fence has established a significant leap in understanding the nature and potential extent of the Roughrider East Zone since the initial discovery at the end of the 2009 summer drill season in hole MWNE-09-170 (28 m of 12.8% U308; News Release dated 12 November 2009).

The drill fence of seven holes constitutes a 25 m step-out to the west towards the original Roughrider discovery from Hole 170, along the strike of the 070o structure which controls the mineralizing system. Overall, this fence demonstrates the potential for continuity along 400 m of strike between RRZE and the western end of the original Roughrider deposit.

This drill fence not only proves the existence of very high grade zones of massive and semi-massive pitchblende first discovered at RRZE in Hole 170 drilled last year, but it also identifies the potential to outline, in three dimensions, a large volume of consistently altered and mineralized rock. As shown on the cross section in Figure 5 on the Company's website., the drill fence defines:

  • Continuously altered, radioactive and mineralized rock spans a vertical distance of up to 100 m down from the unconformity
  • Pitchblende mineralization has now been intersected immediately below the unconformity, and occurs locally from the base to the top of the 100 m vertical zone.
  • Continuously altered, radioactive and mineralized rock forms a northerly dipping structural panel that is up to 80 metres wide. One composite section through the panel contains 81.5 m of 1.59 % U3O8 (News Release Dated March 3, 2010).
  • A robust fluid system that is not restricted to any specific rock type or structure; both Wollaston Group pelitic gneisses and Hudsonian pegmatites are mineralized.

The Company has posted a series of core photos (RRZE Hole 613 - Photo Transect) that provides a transect of local pitchblende mineralization which spans the entire 90.7 m length of altered core intersected in Hole 613.

Individual Drill Hole Radioactivity Summaries

Drill hole MWNE-10-613, collared at -75o to 155o, intersected several broad zones of anomalous radioactivity from 218.50 to 309.20 m. An 18.90 m wide upper zone intersected a continuous section, except for 0.1 m, of anomalous radioactivity from 235.30 to 254.20 m. A lower zone intersected anomalous 13.70 m of anomalous radioactivity within a 16.20 m wide zone of alteration from 293.00 to 309.20m. The strongest intersection of mineralization is from 302.10 to 306.0 m. In addition to these two main zones, a thin zone of radioactivity was intersected approximately 1.5 m below the unconformity which is located at 217.00 m. This interval is the shallowest and the closest to the unconformity intersected to date. Several examples of altered "proto worm rock" were observed in this area, interestingly, micro-scale visible pitchblende grains were visible, however, the rock on a gross scale was not anomalous (cps <500). The factors demonstrate that mineralizing fluids circulated close to the unconformity, thus increasing the potential for unconformity-hosted mineralization elsewhere in RRZE.

Drill hole MWNE-10-615, collared at -78o to 155o, intersected numerous zones of variable radioactivity totalling 23.1 m within a larger 85.1m wide zone of alteration.

Drill hole MWNE-10-614, collared -69o to 155o, was designed to test a 25 m down dip extension from 10-612. This drill hole did not intersect any anomalous radioactivity.

Natural gamma emission radiation is measured in counts per second (cps) using an Exploranium GR-110G 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-per-cent interest, carried until a decision is made to go to production, in the Midwest NorthEast property.

Benjamin Ainsworth, P.Eng., a qualified person as defined by National Instrument 43-101, has 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

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.

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.

Contact Information

  • Terra Ventures Inc.
    Gunther Roehlig
    Toll Free: 1-866-683-0911 or 1-604-683-0911
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