Terra Ventures Inc.
TSX VENTURE : TAS

Terra Ventures Inc.

June 16, 2010 10:06 ET

Terra Ventures Inc.: High Grade Uranium Intersections at Roughrider Bolstered by Recoveries of Up to 98.9% in Metallurgical Leach Tests

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 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 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 (http://hathorexplorationltd.createsend4.com/t/r/l/nuygy/itlrkttkk/j) 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 less than 0.0001
Zn wt% 0.046 0.018 less than 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.

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 (604) 683-0911
    (604) 683-7161 (FAX)
    www.terrauranium.com