erra Ventures partner Hathor drills 15 m of 12% U3O8
Terra Ventures Inc (C:TAS)
Shares Issued 3,354,056
Last Close 2/27/2009 $0.56
Monday March 02 2009 - News Release
Mr. Gunther Roehlig reports
HATHOR DRILLS 15 METRES of 12% U3O8 AT ROUGHRIDER ZONE
Terra Ventures Inc. is providing an update on the Midwest Northeast uranium property in which Terra owns a 10-per-cent production carried interest.
In a press release dated March 2, 2009, Hathor reported: "Hathor Exploration Limited (TSX-V: HAT) is pleased to announce initial winter 2009 drill program assay results that grade up to 70.7% U3O8 from the Roughrider Zone on its 90% owned Midwest NorthEast uranium property.
Hathor's winter 2009 drill program began in January and assay results for 16 drill holes have been received. Ten of the 16 drill holes were in-fill, grid-drilling that targeted the Roughrider Zone. Nine of these holes intersected uranium mineralization.
Highlights from U3O8 assayed core-length intervals* (using a 0.05 % U3O8 cut-off grade) include:
Drill hole MWNE-09-56:
15.0 metres grading 12.03 % U3O8 from 229.0 to 244.0 m core length including:
4.0 metres grading 39.03 % U3O8 from 236.0 to 240.0 m core length, and
0.5 metres grading 70.70 % U3O8 from 239.5 to 240.0 m core length
3.0 metres grading 0.94 % U3O8 from 259.5 to 262.5 m core length
Drill hole MWNE-09-55:
16.5 metres grading 1.91 % U3O8 from 232.0 to 248.0 m core length including:
2.5 metres grading 7.29 % U3O8 from 243.0 to 245.5 m core length
0.5 metres grading 0.13 % U3O8 from 256.5 to 257.0 m core length
1.0 metres grading 0.53 % U3O8 from 264.5 to 265.5 m core length
2.0 metres grading 3.59 % U3O8 from 268.0 to 270.0 m core length
1.5 metres grading 0.10 % U3O8 from 279.0 to 280.5 m core length
1.0 metres grading 0.13 % U3O8 from 286.5 to 287.5 m core length
2.5 metres grading 0.11 % U3O8 from 302.5 to 305.0 m core length
0.5 metres grading 0.31 % U3O8 from 310.5 to 311.0 m core length
Drill hole MWNE-09-44:
0.5 metres grading 0.12 % U3O8 from 216.0 to 216.5 m core length
0.5 metres grading 0.21 % U3O8 from 218.5 to 219.0 m core length
1.5 metres grading 2.60 % U3O8 from 238.5 to 240.0 m core length
13.5 metres grading 2.60 % U3O8 from 247.0 to 260.5 m core length including:
3.0 metres grading 9.08 % U3O8 from 256.0 to 259.0 m core length
1.0 metres grading 0.22 % U3O8 from 293.0 to 294.0 m core length
Drill hole MWNE-09-52:
3.0 metres grading 6.18 % U3O8 from 241.5 to 244.5 m core length
Drill hole MWNE-09-60:
2.5 metres grading 0.11 % U3O8 from 249.0 to 251.5 m core length
2.5 metres grading 1.19 % U3O8 from 259.5 to 262.0 m core length
1.5 metres grading 0.34 % U3O8 from 275.5 to 277.0 m core length
Drill hole MWNE-09-43A:
0.5 metres grading 0.08 % U3O8 from 221.5 to 222.0 m core length
1.0 metres grading 0.21 % U3O8 from 251.5 to 252.5 m core length
4.0 metres grading 0.12 % U3O8 from 259.5 to 263.5 m core length
Drill hole MWNE-09-47A:
1.0 metres grading 0.13 % U3O8 from 230.5 to 231.5 m core length
0.5 metres grading 0.11 % U3O8 from 234.0 to 234.5 m core length
6.0 metres grading 0.44 % U3O8 from 238.0 to 244.0 m core length
3.5 metres grading 0.23 % U3O8 from 246.0 to 249.5 m core length
3.0 metres grading 0.42 % U3O8 from 256.5 to 259.5 m core length
1.0 metres grading 0.35 % U3O8 from 283.5 to 284.5 m core length
1.0 metres grading 0.40 % U3O8 from 309.0 to 310.0 m core length
Drill hole MWNE-09-48:
2.5 metres grading 0.09 % U3O8 from 219.5 to 222.0 m core length
0.5 metres grading 0.08 % U3O8 from 231.0 to 231.5 m core length
2.0 metres grading 0.22 % U3O8 from 234.0 to 236.0 m core length
1.0 metres grading 0.35 % U3O8 from 252.5 to 253.5 m core length
1.0 metres grading 0.26 % U3O8 from 259.0 to 260.0 m core length
Drill hole MWNE-09-51:
2.0 metres grading 0.22 % U3O8 from 223.5 to 225.5 m core length
0.5 metres grading 0.08 % U3O8 from 235.0 to 235.5 m core length
1.5 metres grading 0.49 % U3O8 from 244.5 to 246.0 m core length
1.0 metres grading 0.58 % U3O8 from 257.0 to 258.0 m core length
0.5 metres grading 0.16 % U3O8 from 329.0 to 329.5 m core length
* The reader is cautioned that all intersections reported are down-hole, core-length intervals and true thickness of mineralization is yet to be determined. Alistair McCready, Hathor's Senior Project Geologist comments: "Once again we continue to hit very high-grade uranium mineralization in the basement. As the grid drilling moves to the east, we are excited about testing for classic unconformity style sandstone mineralization."
Six other drill holes (MWNE-09-45; 09-46; 09-49; 09-50; 09-54 and 09-58A) were drilled in three fences located approximately 40m, 100 m and 550m southwest of the Roughrider Zone. Although no mineralization was intersected by this preliminary drilling, further holes are warranted to adequately test these targets. Vertical depth to the unconformity is approximately 210 to 215 metres. The high-grade uranium mineralization encountered in these drill holes occurs in basement rocks that are a heterogeneous mix of variably clay-altered to clay-replaced pelitic gneiss, graphitic pelitic gneiss, granitic pegmatite and microgranite. Previous to the winter 2009 drill program, Hathor completed 45 drill holes totalling 16,856 metres on the Midwest NorthEast property. For a drill hole location map, please visit Hathor's website at: www.hathor.ca .
Team Drilling LP of Saskatoon, Saskatchewan, is providing drill equipment and services on the Midwest North East project. Drill core samples were submitted for U3O8 analyses to the geoanalytical laboratories of the Saskatchewan Research Council (SRC) located in Saskatoon, Saskatchewan. The SRC operates 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 controls include the insertion of certified reference materials applicable for the ranges of mineralization encountered and duplicate samples. In addition to the laboratory duplicates, reject repeat analyses will be performed.
All samples will also be analyzed for a suite of other elements including nickel, cobalt, copper and lead. Assay results will be released by Hathor as they are received from the SRC. Benjamin Ainsworth, P.Eng., a director of the company and 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.
© 2009 Canjex Publishing Ltd. |
