Terra Ventures Inc.
TSX VENTURE : TAS

Terra Ventures Inc.

February 25, 2010 12:24 ET

Terra Ventures Inc.: Hathor Intersects Off-Scale Radioactivity in Seven Holes at Roughrider Zone East

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2010) - Terra Ventures Inc. (TSX VENTURE: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 February 25, 2010, Hathor reported: "Hathor Exploration Limited (HAT: TSX-V) is pleased to announce that the Company's high-grade discovery made at the end of the 2009 summer drill program has been extended. Highlights include:

  • High success rate for follow-up holes at Roughrider Zone East (RRZE), with 9 of 13 holes intersecting significant radioactivity.
  • Numerous zones of off-scale radioactivity up to 7 m wide within much broader zones of up to 75 m wide of pervasively altered and continuously radioactive rock.
  • Off-scale radioactive zones commonly correlate with core intervals of massive pitchblende
  • Significant vertical extent of radioactivity and alteration, up to 100 m, double that seen at the original Roughrider deposit. 
  • The first step-out drill fence of four holes defined a 25 m strike extension to the west; RRZE and RRZ have the potential for continuity along 400 m of strike on the controlling 070o structure. 

Highlights by Drill Hole Include:

  • Hole 610: Intersected 32.2 m of >500 cps, including 7.0 m of off-scale (>9999 cps) radioactivity, within a broader zone of 76.4 m of pervasive alteration and elevated radioactivity.
  • Hole 607; Intersected 44.7 m of >500 cps, including 3.85 m of off-scale (>9999 cps) radioactivity, within a broader zone of 81.4 m pervasive alteration and elevated radioactivity.
  • Hole 612: Intersected 19.2 m of pervasive alteration and elevated radioactivity, including 4.9 m of off-scale (>9999 cps) radioactivity. 
  • Hole 609: Intersected 24.2 m of pervasive alteration and elevated radioactivity which included several greater than 1 m wide zones of off-scale (>9999 cps) radioactivity which total 7.5 m in length.
  • Hole 608: intersected 26.9 m of pervasive alteration and variable radioactivity, including 3.35 m of off-scale (>9999 cps) radioactivity.

The Roughrider East Zone, RRZE, was discovered at the end of the 2009 summer drill program in drill hole MWNE-09-170 (28 m of 12.8% U3O8; News Release dated 12 November 2009). It is located some 200 m to the east along-strike from the original Roughrider deposit (RRZ). The current program has confirmed significant vertical extent to the discovery, with anomalous radioactivity in the basement extending for 100 m downwards from the unconformity. Width is also significant, with the zone of intense alteration and elevated radioactivity extending across more than 75 metres. Finally, the first complete drill fence has established a 25 m strike extension of the RRZE westward towards RRZ. Hathor now recognizes the potential for in excess of 400 m of strike length continuity between drill hole MWNE-09-170 at RRZE and the current western boundary of RRZ. The new discovery, named RRZE (Roughrider Zone East), remains open in all directions; drilling will continue with two rigs at RRZE until the end of the winter season. All intersections are down-hole, core-length intervals and true thickness of mineralization is yet to be determined.   

The objectives of the current winter drill program at RRZE were to confirm the high grade mineralization discovered in drill hole MWNE-09-170, establish the geological controls on mineralization, and begin delineation drilling of the new zone. All three objectives have been met, and mineralization is now being successfully traced back towards the RRZ. A plan map on the Company's website at www.hathor.ca shows the location of the new discovery at RRZE in relation to the Roughrider Zone (Figure 1).

A total of 13 drill holes for 6,015.6 m have been completed to date at RRZE in follow up to MWNE-09-170. Nine of the drill holes have intersected anomalous radioactivity over significant widths (from 20 to 60 metres), seven of which include numerous zones of off-scale radioactivity. A detailed plan map of the RRZE on the Company's website at www.hathor.ca shows the location of the holes completed to date, including radioactive zones (Figure 2). 

Drill holes MWNE-10-607, MWNE-10-609, MWNE-10-610, and MWNE-10-612 successfully provide a 25 m strike extension to the west towards Roughrider from 09-170, the original discovery hole for RRZE. These drill holes clearly delineate a zone of pervasively altered, radioactive and variably mineralized rock within a panel up of 80 metres wide of basement Wollaston Group pelitic gneisses and Hudsonian pegmatites. The zone dips moderately to the north-northwest and trends 070o. Further, the drill fence indicates that the zone has a vertical extent of up to 100 metres, more than double the vertical extent currently known at the original RRZ.

The three cross-sections shown on the Company's website at www.hathor.ca cover Roughrider (Figure 3, & Figure 4) and RRZE (Figure 5). Section locations are shown on Figure 1. Overall, the sections provide the framework to understand the potential of the new discovery at RRZE in light of:

  1. the significant structural thickness (width) of the basement-hosted zone;
  2. the significant vertical extent of alteration and radioactivity below the unconformity, and;
  3. the along-strike potential of the combined Roughrider and new RRZE zones. 

Dr. Alistair McCready, Hathor's Exploration Manager, said: "I find it extremely positive that we have drilled the RRZE from a number of different orientations and each time intersected wide intervals of anomalously radioactive, pervasively altered and variably mineralized rock within which, in every hole, we also intersect numerous sub-intervals of off-scale radioactivity, irrespective of the orientation of the hole. Further, pervasive alteration and replacement is irrespective of rock types. Together, these features underscore the robustness and prospectivity of the system in three dimensions between and including the Roughrider and new RRZE zones. Overall, the Roughrider system is open along strike in both directions." 

The Midwest Northeast Property is located along strike to the north of the Midwest and Midwest A uranium deposits. The Roughrider deposit is accessed by a 6 km winter road connected to Highway 955. The property is approximately 8.5 km north of the community of Points North, the main service hub for northereastern Saskatchewan (see regional plan map on the Company's website at www.hathor.ca). 

Individual Drill Hole Radioactivity Summaries

Drill hole MWNE-10-610, collared at -68o to 155o, intersected 32.2 m of anomalous radioactivity (>500 cps) over a broader zone of 76.4 m. The most intense radioactivity occurs from 286.1 to 295.7 m. This 9.6 m section contains 7.0 m of off-scale radioactivity (>9999 cps) and 1.7 m of strong radioactivity (5000 to 9998 cps). Numerous other intersections of strong and off-scale radioactivity are also present over the mineralized section.

Drill hole MWNE-10-607, collared at -70o to 335o, intersected 44.7 m of anomalous radioactivity (>500 cps) over a broader zone of 81.4 m within the basement rocks from 259.6 to 341.0 m. The anomalous zone comprises 22.7 m that ranges between 500 to 1000 cps, 15.7 m of between 1000 to 5000 cps, 2.45 m of between 5000 and 9998 cps, and 3.85 m of off-scale radioactivity (>9999 cps). Due to the strong alteration intersected, this drill hole was reduced to BQ-sized drill core at ca. 282 m.

Drill hole MWNE-10-612, collared at -72o to 155o from the same set up as MWNE-10-610, intersected 14.3 m of anomalous radioactivity over a broader zone of 19.2 m. This interval includes 4.9 m of off-scale (>9999 cps) and 1.5 m of strong (5000-9998 cps) radioactivity.

Drill hole MWNE-10-609, collared at -73o to 090o, intersected a 24.2 m wide zone of anomalous radioactivity (>500 cps) over the interval 276.0 to 326.5 m (50.5 m). Within this interval, several zones of radioactivity are recognized, and variable amounts of strong (5000-9998 cps) and off-scale (>9999 cps) radioactivity totaling 7.5 m are present throughout the interval. Although this drill is easterly-dipping, this radioactivity was intersected within same 10m wide sections as 607 and 610 (sections 20W and 30W). 

Drill hole MWNE-10-608, collared at -70o to 090o from the same set up as MWNE-10-609, intersected 9.1 m of variably anomalous radioactivity over a broader zone of 26.9 m from 292.20 to 325.70 m depth. The strongest radioactivity is a 3.7 m interval from 293.90 to 297.60 m, that contains 3.35 m of off-scale (>9999 cps) radioactivity. Although dipping to the east, this drill hole intersected radioactivity within the same 10 m wide section line (0E) as MWNE-09-170. The drill hole additionally intersected anomalous radioactivity from 330.90 to 331.60 and from 359.30 to 360.80 m.

Drill hole MWNE-10-602A, collared at -78o to 155o, intersected a 5.6 m wide upper zone of anomalous radioactivity, from 260.5 to 266.1 m, that contains 2.8 m of off-scale (>9999) radioactivity and 0.9 m of strong (5000-9998 cps) radioactivity and, and a 5.3 m lower zone from 303.7 to 309.0 m that contains 0.7 m of off-scale (>9999 cps) and 0.9 m of strong (5000-9998 cps) radioactivity. In addition to these zones, numerous other smaller zones of variably anomalous radioactivity are present.

Drill hole MWNE-10-604A, collared at -83o to 155o, intersected 8.0 m of anomalous radioactivity, from 288.8 to 296.5 m, including 1.9 m of off-scale (>9999 cps) radioactivity.

Drill hole MWNE-10-611, collared at -70o to 155o, intersected 1.65 m of anomalous radioactivity reaching up to 5700 cps. This drill hole is interpreted to be intersected the footwall of the system.

Drill hole MWNE-10-600C, collared at -70o to 155o, intersected multiple narrow zones of anomalous (up to 1400 cps) radioactivity within a broader zone of alteration.

Drill holes MWNE-10-601 and MWNE-10-603, collared at -65o to 156.5o and -73o to 155o, respectively, did not intersect anomalous radioactivity. Both of these drill holes intersected strong alteration, including approximately 15m of intense to massive clay alteration in 10-601. Based on knowledge gained from the Roughrider Zone, both of these drill holes are considered to be near misses.

Drill hole MWNE-10-606A, collared at -74o to 155o approximately 100 m to the NNW of 602A, was drilled to provide additional information about the geology and structure in the area. This drill hole did not intersect any anomalous radioactivity. 

Drill hole MWNE-10-605, collared at -65o to 335o, was designed to test the possibility of N-S steeply dipping mineralization. This drill hole did not intersect any anomalous radioactivity. However, in light of the apparent 070 trend of the mineralization seen in 10-607, 10-609 and 10-610, this drill hole is interpreted to have over-shot the E-W target zone.

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. The reader is cautioned that due to the variation in diameter between NQ- (48 mm) and BQ-sized (36.5 mm) drill core, any correlation of CPS data between these drill cores should done so with caution. 

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."

On behalf of the board of directors of

TERRA VENTURES, INC

"Gunther Roehlig"

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.

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