Terra Ventures Inc.
TSX VENTURE : TAS

Terra Ventures Inc.

July 07, 2009 09:33 ET

Terra Ventures Inc.: Hathor Commences Drilling and Adds Third Drill Rig at Its Midwest NorthEast Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2009) - 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 July 7, 2009, Hathor reported: "Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce that a summer drill program at its 90%-owned Midwest NorthEast property, northern Saskatchewan, has started.

This summer's exploration drill program is anticipated to complete about 10,000 metres using three diamond drills:

- Drill 1 is a land-based, helicopter-portable, drill rig that will test the Roughrider Zone with shallow-dipping holes. This approach is similar to that undertaken last summer.

- Drill 2 is a barge-based drill rig that will be testing the Roughrider Zone with vertical holes.

- Drill 3 is a land-based, helicopter-portable drill rig that will be testing other targets on the property that are outside the Roughrider Zone.

Both land- and barge-based drills are drilling HQ-sized holes that will allow the flexibility to drill a number of metallurgical holes, which will help in the downstream characterization of the Roughrider Zone mineralization. TEAM Drilling LP has been contracted to complete this summer drill program. Mr. Stephen Stanley, President of Hathor, stated: "We are very happy to continue the successful relationship between Hathor and Team Drilling, a company having ownership by the Athabasca Basin area communities of northern Saskatchewan."

VIH Helicopters Ltd. from Sidney, BC, Canada's oldest privately-owned helicopter operator, having a record of providing high-quality service to the mineral exploration sector for over 50 years, has been selected to provide helicopter support.

The Geoanalytical Laboratories of the Saskatchewan Research Council will be carrying on with the assaying and geochemical analyses of samples. The Laboratories have carried out an upgrading of their facilities which already include a reputation as a World Leader in this kind of work.

Points North Landing, a regional service centre to the eastern Athabasca region, is located about eight kilometres from Hathor's Midwest NorthEast property, and the modern, AREVA-operated McClean Lake uranium mill facilities are located approximately 11 kilometres to the east. Hathor is taking advantage of this well run infrastructure to use as a cost effective base of operations for the program.

Previous to this summer 2009 drill program, Hathor completed 134 drill holes totaling ca. 40,000 metres on the Midwest NorthEast property. A full listing of U3O8 assay results, detailed drill collar information, select pictures of altered and uranium-mineralized drill core and scintillometer results (cps values) from its Midwest NorthEast exploration program are available on Hathor's website: www.hathor.ca.

Terra Ventures Inc. owns a 10-per-cent production carried interest 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

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
    President
    Toll Free: 1-866-683-0911 or (604) 683-0911
    (604) 683-7161 (FAX)
    www.terrauranium.com