🕐13.11.09 - 09:02 Uhr
Hathor Intersects 28 m of 12.71 % U3O8 with Assays Up To 82 % U3O8 Located 200 M
etres from Roughrider Zone
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Terra Ventures
November 12, 2009
TSX-V Symbol: TAS
NEWS RELEASE
HATHOR INTERSECTS 28 M OF 12.71 % U3O8 WITH ASSAYS UP TO 82 % U3O8 LOCATED
200 METRES FROM ROUGHRIDER ZONE
Vancouver, November 12, 2009 - 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
November 12, 2009, Hathor reported: "Hathor Exploration Limited (HAT:TSX-V)
is pleased to announce U3O8 results from the 2009 summer drill program,
including the newly-discovered mineralization located 200 metres away from
the current resource estimate, at its 90%-owned Midwest NorthEast property,
northern Saskatchewan.
Of particular significance are results from drill hole MWNE-09-170, which
intersected high grade mineralization approximately 200 m northeastwards
from the Roughrider Zone (RRZ), as defined by the resource estimate (see
Hathor news release of 5th November 2009).
The high-grade uranium
mineralization in this drill hole occurs within a broader (135.5 m)
mineralized core intersection.
It comprises two distinct high-grade core
intersection intervals of 10.0 m and 8.0 m of 13.44 % and 27.66 % U3O8
respectively (Table 1), separated by a 10.0 m core intersection with an
average of grade of < 0.05 % U3O8 (cut-off grade).
In a mining scenario,
where the two mineralized zones and the zone of internal dilution are
extracted together, this equates to an average grade of 12.71% U3O8 over the
core-length of 28 m.
Table 1.
Summary assay data for high grade mineralization in drill hole
MWNE-09-170
DDH
From
(m)
To
(m)
Interval
(m)
Grade
(U3O8 %)
Max.
Grade
(U3O8 %)
GT**
MWNE-09-170
302.5
312.5
10.0
13.44
55.30
134.44
Includes
309.5
311.5
2.0
44.03
MWNE-09-170
322.5
330.5
8.0
27.66
81.90
221.25
Includes
326.5
329
2.5
71.56
* All intersections are down-hole, core-length intervals and true thickness
of mineralization is yet to be determined.
** "GT" or "Grade x Thickness" is the product of the Interval and the U3O8
Mineralized Grade for that Interval.
Dr.
Alistair McCready, Hathors Senior Project Geologist, said: "Its
exceptionally encouraging to see DDH #170, effectively a 200 metre step-out
from the Roughrider Zone, return such high-grade results.
The assay interval
grading about 82 % U3O8 is second only to the 84 % U3O8 in DDH #116, which
is collared about 450 metres away from DDH #170.
There is a world of
opportunity to find more high-grade mineralization, both between these holes
and extending outward from them, and from the recently-completed resource
study, we know that high-grade can most certainly add a lot of uranium
pounds with very little tonnage increases."
Eighteen of the drill holes reported here, from the currently defined RRZ
area, intersected uranium mineralization (using a 0.05 wt% U3O8 cut-off
grade).
Highlights of U3O8 assayed core-length intervals* from eight of
these are shown in Table 2.
The other ten drill holes contain uranium
mineralization ranging from 0.07 % U3O8 over 0.5 metres to 0.90 % U3O8 over
9.0 metres.
It is important to note that the majority of the non-mineralized
drill holes do not intersect the current resource estimate nor are they
located within the target areas identified for further drilling this winter.
Two drill holes (MWNE-09-171 and MWNE-09-172), although well-mineralized,
were metallurgical test holes and do not yet have reported assays.
Of the thirty-one drill holes outside of the resource estimate, six of these
were reconnaissance drill holes that intersected typical
mineralization-related alteration that led to the discovery of MWNE-09-170.
Five drill holes were part of the reconnaissance program in which similar
alteration is drill defined a further 1,000 m northeast of the MWNE 09-170.
The alteration envelope has potential to continue from the western limits of
the claim boundary to beyond these most northeasterly drill intersections of
alteration with mineralization, a distance of over 1500 meters.
These drill
holes are currently being analysed by ICP-ES methods for a large suite of
elements, including uranium by partial and total digestion, and uranium
pathfinder elements.
These results will be used to help target further
drilling, especially in areas where alteration was intersected in either the
basement or sandstone rocks.
For a complete list of drill hole assay
intervals and photo including assay grades of DDH #170 please visit Hathors
website.
Table 2.
Summary assay data for mineralization within the RRZ vicinity.
DDH
From
(m)
To
(m)
Interval
(m)
Grade
(U3O8 %)
Max.
Grade
(U3O8 %)
GT**
MWNE-09-133
363.0
369.0
6.0
11.25
54.70
67.51
MWNE-09-137
360.0
363.5
3.5
13.58
39.50
47.54
MWNE-09-139
216.0
221.0
5.0
2.30
19.20
11.49
MWNE-09-168
213.5
235.5
22.0
0.48
2.96
10.51
MWNE-09-166
216.0
223.5
7.5
0.74
1.63
5.55
MWNE-09-166
231.5
236.0
4.5
0.73
3.73
3.29
MWNE-09-161C
243.5
246.0
2.5
0.72
2.48
1.80
MWNE-09-169
218.5
222.5
4.0
0.37
2.16
1.48
* All intersections are down-hole, core-length intervals and true thickness
of mineralization is yet to be determined.
** "GT" or "Grade x Thickness" is the product of the Interval and the U3O8
Mineralized Grade for that Interval.
Samples were analyzed for U3O8 at the Geoanalytical Laboratories of the
Saskatchewan Research Council (SRC).
The facilities used for the analysis
operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E).
The samples were
analyzed using ISO/IEC 17025:2005-accredited U3O8 method.
Laboratory method
quality control included the insertion of repeat samples and certified
reference materials applicable for the ranges of mineralization encountered.
Additional repeat analyses were performed on every 20th sample.
All repeat
samples had good reproducibility, including those in the very high- grade
assay ranges.
All samples are being analyzed for a suite of other elements
including nickel, cobalt, copper and lead.
Select samples are being analyzed
for gold, platinum and palladium.
These results will be released upon
receipt of all results.
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 Companys combination of strategic land positions, advanced
stage projects and no risk carried interest projects - combined with
technical expertise and managements fundraising ability - are the
foundation for growth in the uranium business.
For further particulars about Terra Ventures, please contact Gunther
Roehlig, President, at 1-866-683-0911 or visit the Companys website at
www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
"Gunther Roehlig"
Gunther Roehlig, President
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