VANCOUVER, April 11 /CNW/ - Terra Ventures Inc. (TSX-V: 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 11, 2011, Hathor reported:
"Hathor Exploration Limited (TSX: HAT) is pleased to announce the
completion of the 2011 winter drill program at Roughrider in the
Athabasca Basin, Saskatchewan, and in particular, the confirmation of a
third mineral zone in the Roughrider system, named Far East and located east of the previously discovered East Zone. Highlights
and key attributes of the Far East Zone include:
Elevated radioactivity in 15 of 17 drill holes completed at Far East around discovery hole MWNE-11-667, which intersected 1.57% U308 over 37.5 m (Feb. 24, 2011 News Release).
Nearly continuous radioactivity over drill lengths up to 50 m
Off-scale radioactive intervals in 13 of the 15 drill holes with anomalous radioactivity, and off-scale radioactive intervals totalling up to 8.9 m in a single hole
Semi-massive and massive pitchblende mineralization in replacement,
vein, fracture lining and breccias textures
Locally pervasive alteration surrounding basement-hosted mineralization,
and also at the unconformity above
Drill intersections span 45 metres of strike, in an easterly direction, across mineral zones dipping moderately
north-northeast; intersections of 30-50 metres are oblique to true
Mineralization is basement-hosted, up to 200 m below the unconformity,
and not restricted to Wollaston Group lithologies
Figure 1 shows all drill holes completed during the winter program. Figure 2 is a more detailed plan map which provides detail of the infill holes
completed at East Zone, and delineation holes at Far East Zone. Figure 3 is a cross section along Line 110E, showing three drill hole
intersections, and the relationship between alteration and
mineralization, including the extensive alteration at the unconformity
above; Figure 4 is a zoom in of the same section view as in Figure 3, showing better the detail of radioactive zones. Figure 5 is a long section, with drill hole MWNE-11-683 for cross-reference with
the cross sections. Styles of uranium mineralization are shown in Photo 1, Photo 2, Photo 3 and Photo 4.
Overall, the Roughrider Far East zone remains open (untested) to the
east, and it will be the focus of an aggressive follow-up drill program
this summer. It represents a material development in the resource
potential of the overall Roughrider uranium system, as shown in Figure 6.
2011 Winter Program Summary
The 2011winter program utilized three drill rigs. A total of 19,244 metres were completed in 49 drill holes (Figure 3). A breakdown of holes is as follows:
- Roughrider Far East Zone (Line 80E to Line 130E)
17 drill holes
- Roughrider East Zone Infill (Line 100W to Line 70E)
14 drill holes
- "Gap" between Roughrider West and East Zones:
9 drill holes
(From 110W to 180W)
- Reconnaissance, Resistivity and Magnetic targets
9 drill holes
This News Release covers all drill holes completed at Roughrider this
winter. Infill drill holes at East Zone contained variable amounts of
mineralization. These assays, when available will be incorporated into
the resource model currently being developed and evaluated for the East
Zone. Drill holes in the "Gap" contained local radioactivity and trace
uranium mineralization, but did not return any material intersections.
In addition to a basement target, pervasive alteration at the
unconformity was intersected in several of the drill holes.
Reconnaissance drill holes on resistivity and magnetic targets
elsewhere on the property did not produce any material radioactive
intersections, but improved the geological and exploration models for
the Roughrider system and the Midwest uranium trend; follow-up drilling
this summer will be considered once all geochemical data are in-hand.
Radioactivity summaries of individual drill holes are provided at the
end of this release. Complete assays for complete drill holes will be
released when available.
Individual Drill Hole Radioactivity Summaries:
Roughrider Far East Zone (80E to 120E)
MWNE-11-661 intersected several zones of discrete radioactivity within a
broader interval (233.7 to 395.6 m). The main zone of radioactivity
was intersected between 296.0 and 305.4 m, with a total of 1.1 m of
radioactivity 'greater than 9999 cps' (>9999 cps) radioactivity.
MWNE-11-663 intersected radioactivity in very discrete zones from 327.0
- 384.6 m. The main zone of radioactivity is between 374.4 and 384.5
m. A total of 0.7 m of radioactivity >9999 cps was intersected in this
MWNE-11-665 intersected intermittent radioactivity between 256.1 and
377.4 m, with three separate zones identifiable. The upper zone
extends from 256.1 to 258.0 m, with radioactivity reaching up to 2500
cps. The second zone extends from 298.7 to 303.5, with radioactivity
reaching up to 7500 cps. The third, and main zone, extends from 361.6
to- 364.5 m with radioactivity reaching up to >9999 cps.
Assay results from drill hole MWNE-11-667 were previously released on 24th February 2011. This drill hole intersected two core intervals of 16.5 m
and 18.0 m of 2.14 % and 1.30 % U3O8 respectively, separated by 3.0 m
with an average grade of 0.01 % U3O8, for a composite of 1.57 % U3O8
over 37.5 m.
MWNE-11-671A intersected three main zones of anomalous radioactivity
with a broader zone from 237.8 - 404.8 m. The first zone is from 237.8
to 241.8 m, with radioactivity reaching up to 3000 cps. The second
zone is from 251.45 to 254.7 m, with radioactivity reaching up to 8000
cps. The third zone is fracture-hosted radioactivity from 404.0 to
404.8 m, with radioactivity up to 1200 cps.
MWNE-11-673 intersected five zones of anomalous radioactivity between
313.0 and 406.3 m. The first zone, from 313.0 - 321.8 m, intersected
maximum radioactivity of 9000 cps. The second zone, from 338.9 - 339.3
m, intersected maximum radioactivity of 2200 cps. Zone three, from
349.9 - 351.0 m, intersected maximum radioactivity of 1400 cps. Zone
4, from 399.3 to 401.0 m, has the highest radioactivity of >9999 cps.
The fifth zone, from 405.9 to 406.3 m, intersected maximum
radioactivity of 750 cps.
MWNE-11-683 intersected numerous of anomalous radioactivity between
216.4 and 393.7 m, including two main broad zones, from 346.1 to 358.15
m, and from 360.0 - 372.3 m. A total of 5.0 m of radioactivity > 9999
cps was intersected in the drill hole, with 2.55 m intersected within
the zone that extends from 360.0 to 372.3 m.
MWNE-11-687 intersected several zones of anomalous radioactivity between
317.8 and 394.4 m. The main zone of anomalous radioactivity is from
369.0 to 381.6 m. A total of 4.25 m of radioactivity >9999 cps was
intersected in the hole, with 1.25 m of >9999 cps radioactivity within
the main zone.
MWNE-11-691A intersected a thin discrete zone of fracture-hosted
radioactivity between 409.5 and 409.85 m. The maximum radioactivity
intersected in this zone was 550 cps.
MWNE-11-692A intersected several zones of anomalous radioactivity
between 291.2 and 397.2 m. The main zone of radioactivity is from
321.6 to 339.8 m. A total of 5.2 m of radioactivity >9999 cps was
intersected in this hole, with approximately 3.25 m within the main
MWNE-11-693 intersected several zones of anomalous radioactivity between
317.5 - 396.05 m. Within this broad interval, three zones are
identified, the first from 336.0 to 344.2 m, the second from 346.95 to
356.4 m, and the third from 363.05 to 375.3 m. These three zones
intersected a total of 1.6 m, 2.45 m and 1.3 m of radioactivity >9999
MWNE-11-694 intersected several zones of anomalous radioactivity within
a broader interval from 235.3 - 391.1 m. A total of 1.5 m of off scale
radioactivity was intersected in this hole. The main zone of
radioactivity is between 339.75 and 342.5 m. This zone intersected 0.6
m of radioactivity >9999 cps. The footwall to the main zone contains
several discreet fracture-hosted zones of anomalous radioactivity, with
maximum radioactivity of 2700 cps.
MWNE-11-695 intersected several zones of radioactivity between 218.7 and
398.3 m. A total of 7.05 m of radioactivity > 9999 cps was
intersected. The first broad zone of radioactivity is from 348.0 to
358.15 m and intersected a total of 1.5 m of radioactivity >9999 cps.
The second and main zone of radioactivity is from 363.0 to 380.5 m, and
intersected a total of 3.4 m of radioactivity >9999 cps. The third
broad zone is from 385.7 - 393.65 m and intersected a total of 2.05 m
of radioactivity >9999 cps.
MWNE-11-696 intersected several zones of anomalous radioactivity between
305.55 and 392.8 m. The main zone of radioactivity is between 356.15
and 360.8 m. A total of 2.65 m of radioactivity >9999 cps was
intersected in this hole, with 0.65 m within the main zone. The
remainder of the intense radioactivity is intersected in veins and
MWNE-11-698 intersected several zones of anomalous radioactivity between
226.6 and 403.8 m. There are three main broad zones of anomalous
radioactivity, the first is from 336.25 to 340.35 m, the second zone is
from 343.55 to 351.25, and the third zone is from 352.75 to 361.2 m.
The three zones contain 0.45 m, 3.4 m, and 4.25 m of radioactivity
>9999 cps, respectively.
MWNE-11-699 and MWNE-11-697A did not intersect any anomalous
Roughrider East Zone Infill (100W to 70 E)
MWNE-11-659B intersected three discrete zones of anomalous
radioactivity: an upper zone from 254.8 to 256.4 m in granitic gneiss;
a main zone from 298.9 to 301.1 m within granitic gneiss; and a thin
lower zone of radioactive fault breccia within weakly graphitic pelitic
gneiss from 367.2 to 367.5 m. Maximum radioactivity intersected was
>9999 cps over 0.1 m.
MWNE-11-660D intersected numerous zones of elevated to highly anomalous
radioactivity from 236.8 to 284.7 m. The maximum radioactivity
intersected in this drill hole was 3500 - 6500 cps from 273.6 to 273.8
MWNE-11-662 intersected anomalous radioactivity from 253.4 to 265.9 m.
The main zone of radioactivity is from 265.15 to 265.9 m, and reached a
maximum of radioactivity >9999 cps from 265.6 to 265.7 m.
MWNE-11-664 intersected intermittent anomalous radioactivity from 241.9
- 298.5 m. The main zone of radioactivity is from 272.2 to 281.0 m
within granitic gneiss. A total of 1.65 m of radioactivity > 9999 cps
was intersected in this hole with 1.35 m within the main zone.
MWNE-11-666 intersected numerous discrete and one zones of radioactivity
over a 65.5 m interval (238.45 to 303.95 m). The main, broad zone of
radioactivity is between 249.8 and 261.1 m, in which the radioactivity
is commonly ≥ 5000 cps. A total of 0.75 m of radioactivity >9999 cps
MWNE-11-668 intersected several zones of anomalous radioactivity between
247.2 and 297.35 m. A total of 0.25 m (270.6 to 270.85 m) of
radioactivity >9999 cps was intersected.
MWNE-11-669A intersected two discrete zones of weak, fracture hosted
radioactivity, 247.0 to 247.65 m and 270.2 to 270.5 m. Maximum
radioactivity intersected was 700 cps.
MWNE-11-678 intersected numerous discrete uranium mineralized zones
through the basement. The total extent of the uranium is found from
255.0 - 346.8 m. One stronger interval of radioactivity was
intersected from 307.4 - 307.7 m.
MWNE-11-680 intersected several thin and one larger zones of
radioactivity within a broader intersection of 119.2 m (239.3 - 358.5
m). The main zone of radioactivity extends from 262.5 to 300.9 m.
This zone intersected a total of 5.05 m of radioactivity > 9999 cps.
The several, thin fracture-hosted zones of radioactivity above and
below the main zone have a maximum radioactivity of 2800 cps.
MWNE-11-682 intersected one zone of continuous anomalous radioactivity
(266.4 to 269.5 m). Radioactivity is generally 3000 cps, with one
interval of 8000 to 9000 cps (267.0 - 267.1 m).
MWNE-11-685 intersected several zones of radioactivity over a broader
intersection (317.8 to 394.4 m). The main zone of radioactivity is from
281.45 to 285.3 m, with the strongest radioactivity (3000 to 6500 cps)
intersected between 282.8 and 283.0 m.
MWNE-11-689 intersected several zones of anomalous radioactivity
between 322.3 and 418.8 m. The main zone of radioactivity is from
322.3 to 324.9 m and intersected 0.1 m of radioactivity >9999 cps.
MWNE-11-670 and MWNE-11-690 did not intersect any anomalous
The Gap (110W to 180W)
MWNE-11-672, MWNE-11-674, MWNE-11-676, MWNE-11-677, MWNE-11-681,
MWNE-11-679, MWNE-11-684, MWNE-11-686, and MWNE-11-688 did not
intersect any material (>500 cps) radioactivity.
MWNE-11-516 to MWNE-11-521A, which tested a resistivity low to the south
of the Roughrider Deposit, did not intersect any anomalous
MWNE-11-522 and MWNE-11-523, which tested a distal area to the northeast
of Roughrider Deposit, did not intersect any elevated or anomalous
MWNE-11-675, located approximately 300m to the east of the East Zone,
did not intersect any elevated radioactivity.
Natural gamma emission radiation is measured in counts per second (cps)
using a SuperSCINT RS-120 hand-held gamma-ray scintillometer. While the
upper detection limit of the RS-120 scintillometer is greater than that
of the Exploranium GR-110, for continuity purposes, all values than are
>9999 cps are continued to be classified as "off-scale". 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 Midwest Northeast Property is within the main uranium-producing eastern corridor of the Athabasca
Basin. The Property comprises 3 Mineral Leases covering 543 ha.
Infrastructure is excellent. The Property is connected to Highway 955
by a 6 km winter road. The property is 8.5 km north of the community
of Points North and the Points North commercial airport, the main
service hub for northeastern Saskatchewan. It is within 25 km of
operating uranium mine, mill and tailings facilities established at
Rabbit Lake and McClean Lake during the past 35 years of production in
Terra Ventures Inc. owns a qualified 10% interest in the largest claim
on the Property, carried to the completion of a positive feasibility
study and announcement of intent for commercial production.
Alistair McCready, Ph.D., P.Geo., Hathor's V.P. Exploration with
responsibility for all of Hathor's exploration in Saskatchewan, and
Michael Gunning, Ph.D., P.Geo, Hathor's Chief Executive Officer, are
Qualified Persons as defined by National Instrument 43-101 and have
reviewed and approved the technical disclosure contained in this news
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, prospective exploration projects and no risk carried
interest projects - combined with technical expertise and management's
fundraising ability - are the foundation for growth in the uranium
On behalf of the board of directors of
TERRA VENTURES INC.
Gunther Roehlig, President
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(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
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
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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.
SOURCE Terra Ventures Inc.
For further information:
For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company's website at www.terrauranium.com.