Terra Ventures Inc.
TSX VENTURE : TAS

Terra Ventures Inc.

April 21, 2010 11:20 ET

Terra Ventures Inc.: Hathor Plans Detailed Follow-up Drilling as Roughrider East Gives 100 m of Strike Extent to Uranium Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 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 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

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.
    Ryan Johnson
    Investor Relations
    Toll Free: 1-866-683-0911 or 1-604-683-0911
    1-604-683-7161 (FAX)
    www.terrauranium.com