TERRA PARTNER HATHOR DRILLS 23 METRES OF 11% U3O8 AT MIDWEST NORTHEAST PROPERTY
VANCOUVER, November 4, 2008 � 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 4, 2008, Hathor reported: "Hathor Exploration Limited (TSX-V: HAT) is pleased to announce the final set of U3O8 assay results from its summer drill program on the Roughrider Zone at the Midwest NorthEast property, northern Saskatchewan.
Highlights from U3O8 assayed core-length intervals* (using a 0.05% U3O8 cut-off grade) include:
Drill hole MWNE-08-40:
- 23 metres grading 11.23% U3O8, from 295 m to 318 m core length, including:
- 12.5 metres grading 18.05% U3O8 from 295.0 m to 307.5 m core length; or
- 7.0 metres grading 28.14% U3O8 from 296.5 to 303.5 m core length; or
- 2.0 metres grading 50.51% U3O8 from 296.5 to 298.5 m core length
- 10 metres grading 0.32% U3O8, from 326.5 m to 336.5 m core length; and
- 2 metres grading 0.33% U3O8, from 343 m to 345 m core length
Drill hole MWNE-08-37:
- 18 metres grading 4.15% U3O8, comprised of:
- 5.0 metres grading 0.14% U3O8 from 296 to 301 m core length;
- 4.0 metres grading 0.007% U3O8 from 301 to 305 m core length; and
- 9.0 metres grading 8.22% U3O8 from 305 to 314 m core length
Drill hole MWNE-08-42:
- 3.5 metres grading 5.92% U3O8 from 276.5 to 279.5 m core length
The five highest individual core-interval* U3O8 assay results are:
Drill hole |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
MWNE-08-40 |
296.5 |
297.0 |
0.5 |
61.8 |
MWNE-08-40 |
297.0 |
297.5 |
0.5 |
45.1 |
MWNE-08-40 |
297.5 |
298.0 |
0.5 |
45.9 |
MWNE-08-40 |
298.0 |
298.5 |
0.5 |
49.3 |
MWNE-08-40 |
311.0 |
311.5 |
0.5 |
41.8 |
* The reader is cautioned that all intersections reported are down-hole, core-length intervals and true thickness of mineralization is yet to be determined.
Drill holes MWNE-08-38, MWNE-08-39 and MWNE-08-41 encountered narrow zones of low-grade (<1% U3O8) uranium mineralization. Drill hole MWNE-08-36, a geological hole drilled outside the target area, contained no uranium mineralization. For a complete list of assay results for drill holes MWNE-08-37 through MWNE-08-42 and a drill hole location map, please visit Hathor�s website at: www.hathor.ca.
Vertical depth to the unconformity is approximately 210 to 215 metres. High-grade uranium mineralization encountered in these drill holes occurs primarily in basement rocks that are a heterogeneous mix of variably clay-altered to clay-replaced pelitic gneiss, graphitic pelitic gneiss, granitic pegmatite and microgranite.
All samples were analyzed for U3O8 at the geoanalytical laboratories of the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan. The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using SRC�s ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample. A number of �blind� � duplicates were inserted. All repeat samples had good reproducibility. All samples are being analyzed for a suite of other elements including nickel, cobalt, copper and lead.
The Roughrider Zone was discovered in February of 2008 and initial U3O8 assay results for discovery hole MWNE-08-12 were released in Hathor�s news release dated March 3, 2008. During the winter drill program, Hathor completed 10,654 metres in 29 NQ-sized, vertical and angled diamond drill holes on its 90-per-cent-owned Midwest NE property. During the summer drill program another 13 diamond drillholes were completed totaling 5,322 metres.
Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property.
Benjamin Ainsworth, PEng, 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.
For further particulars about the Terra Ventures, please contact Gunther Roehlig, President, at 1-866-683-0911 or visit the Company's website at www.terrauranium.com.
On behalf of the bo ard of directors of
TERRA VENTURES INC.
Gunther Roehlig
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Jeffery Szita: jszita@renmarkfinancial.com
Montreal: Tel. : (514) 939-3989 Fax : (514) 939-3717 www.renmarkfinancial.com |
Toronto: Tel.: (416) 644-2020 Fax: (416) 644-2021
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Terra Gold est une société basée en Australie. Son principal projet en exploration est TERRA en USA. Terra Gold est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 765 800 CA$ (568 070 US$, 520 977 €). La valeur de son action a atteint son plus bas niveau récent le 08 octobre 2010 à 0,01 CA$, et son plus haut niveau récent le 07 janvier 2011 à 0,80 CA$. Terra Gold possède 21 880 000 actions en circulation. |