Terra Ventures Inc. (TSX VENTURE: TAS)(FRANKFURT: G7K) 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 December 8, 2010, Hathor reported:
"Hathor Exploration Limited (TSX VENTURE: HAT) is pleased to
provide the final chemical assays for its 2010 summer drill program
on its Midwest Northeast Property, Athabasca Basin, Saskatchewan.
Key results include:
-- high grade intersections at Roughrider East which extend the strike
length of deposit to 160 m, including a high grade core over 100 metres
-- The Roughrider deposit itself has been bolstered by new mineralization
intersected outside the extents of the recently upgraded resource of 28
Mlbs U308 including 24 M lbs at 11.7% U3O8 average grade (see News
Release dated Nov. 30, 2010). The extension is not material.
Roughrider East was not included in the recent resource update
for the Roughrider deposit itself, and it represents significant
upside potential for the overall resource of the Midwest North East
property.
Aggressive delineation drilling will continue this winter, on
the heels of two of the largest drill programs completed in the
Athabasca last year (44,370 metres drilled in 129 holes). Figure 1
is a schematic representation of the overall potential on the
Property. Drilling this winter will focus on in-fill and extension
drilling at Roughrider East, and follow-up drilling of alteration
intersected to the northeast of Roughrider, and south of Roughrider
East, along a 700 m resistivity anomaly.
RESULTS
Three rigs completed 18,840 m in 52 holes during the 2010 summer
program (Figure 2). Summaries including down-hole gamma probe
results have been release previously for all drill holes. This News
Release provides summary chemical assay data in (Table 1) for all
mineralized drill holes at Roughrider East, excluding drill hole
648 which was previously reported (see News Release dated Oct. 21,
2010), and in Table 2 for infill drilling at Roughrider Main
East.
All figures and tables in this News Release are also available
on the Company's website at www.hathor.ca.
Roughrider East Highlights Reported Herein:
-- Line 60 West (40m West of Hole 648) (Figure 3)
MWNE-10-656A 10.5% U308 over 16.5 m
including: 22.0% U308 over 7.0 m
(ii) Overall, 4 mineral zones over 51 metres of altered rock
-- Line 40 East (60 m East of Hole 648) (Figure 4)
MWNE-10-649 3.3% U308 over 14.5 m
(ii) Overall, 8 mineral zones within 150 metres of altered rock
Previously released intersections from Roughrider East are shown
on the following page. Together with the new results, they confirm
160 m of strike potential at Roughrider East (Line 100 West to Line
60 East), sill open in both directions (Figure 5). Photographs of
massive pitchblende and semi-massive pitchblende-hematite worm rock
have been released previously and are available on the Company's
website at www.hathor.ca.
Summary of Select Holes from Roughrider East
-- Line 100 West
MWNE-10-629: 1.2% U308 over 9.5 m
-- Line 60 West
MWNE-10-656A 10.5% U308 over 16.5 m
-- Line 20 West
MWNE-10-648: 7.8% U3O8 over 63.5 m
including: 24.3% U3O8 over 17.5 m
WNE-10-604A: 9.2% U3O8 over 8.0 m
MWNE-10-608: 5.3% U3O8 over 15.5 m
MWNE-10-609: 3.7% U3O8 over 25.5 m
MWNE-10-610: 22.5% U3O8 over 12.0 m
MWNE-10-612: 11.8% U3O8 over 19.0 m
-- Line 40 East
MWNE-10-649 3.3% U308 over 14.5 m
New Results from Roughrider Deposit
Only 19 of 52 drill holes in the 2010 summer program were
completed on the Roughrider deposit itself. Objectives included
closing off mineral zones on some lines, and in-fill drilling of
mineralization outlined by widely spaced holes on other lines.
Highlights are shown below.
-- Line 50 East (Figure 6)
MWNE-10-230: 0.24% U308 over 12.0 m
including: 1.23% U308 over 3.0 m
-- Line 20 E
MWNE-10-220: 3.91% U3O8 over 7.5 m
-- Line 0 E
MWNE-10-227A: 1.23% U308 over 15.0 m
-- Line 10 E
MWNE-10-240: 1.62% U3O8 over 13.0 m
Drilling from the 2010 summer program was not included in the
updated mineral resource estimate for the Roughrider deposit (see
News Release dated Nov. 30, 2010). Results from the summer 2010
drill holes do not produce a material change, positive or negative,
to the overall estimate of 28 M lbs.
Midwest Northeast Property
Terra Ventures Inc. owns a qualified 10% interest in the
Property, carried to the completion of a positive feasibility study
on the Roughrider Deposit.
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
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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.
Contacts: Terra Ventures Inc. Ryan Johnson Investor Relations
1-866-683-0911 www.terrauranium.com
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