Terra Ventures Completes 4,000-Metre Diamond Drilling Program at Lac Kachiwiss Uranium Property, Sept-Iles, Quebec
Vancouver, January 8, 2009 � Terra Ventures Ltd. (TSX-V: TAS) is pleased to announce that it has now received final assay data from a 12-hole Diamond drilling program totalling 4004 metres on its Lac Kachiwiss uranium property near Sept-Iles, Quebec. Average assay values over wide zones of low-grade mineralization include 103 ppm U3O8 over 116.95 metres in hole LK08-01(previously reported) and 100 ppm U3O8 over 66.00 metres in LK08-07, as well as somewhat higher grades such as 352 ppm U3O8 over 11.67 metres in LK08-11 and 419 ppm U3O8 over 9.00 metres in LK-08-08. The mineralized system remains open to the north, east and west, and also at depth.
The mineralization at Lac Kachiwiss is of the magmatic type, hosted in flat-lying sills of granite with pegmatitic phases. It is of similar character to the Rossing uranium mine (Rio Tinto et.al), which produced 7% of the world�s uranium in 2007, and the Valencia uranium deposit (Forsys Metals Corp.) which is subject to a $479 million takeover offer, both in Namibia.
The twelve holes varied in depth from 187.15 metres (abandoned prematurely due to technical problems) to 550.47 metres, averaging 333.7 metres. All the holes were drilled vertically, over an area of approximately 600 by 700 metres. The first hole (LK08-01) was a twin of a hole drilled by Getty Mines Ltd. in 1976. All the other holes were drilled north and northeast of the area drilled by Getty. The purpose of the program was to find the limits of the mineralized zones. The following table lists all significant intersections from the 2008 program.
|
LAC KACHIWISS 2008 DRILLING PROGRAM: SUMMARY ASSAY DATA |
|
Hole no. |
From
(m) |
To
(m) |
Length
(m) |
U3O8
(ppm) |
U3O8
(percent) |
|
Hole no. |
From
(m) |
To
(m) |
Length
(m) |
U3O8
(ppm) |
U3O8
(percent) |
|
LK08-01 |
3.05 |
120.00 |
116.95 |
103 |
0.010 |
|
LK08-08 |
295.00 |
340.00 |
45.00 |
90 |
0.009 |
|
includes |
14.00 |
17.00 |
3.00 |
130 |
0.013 |
|
includes |
295.00 |
312.00 |
17.00 |
129 |
0.013 |
|
and |
41.00 |
57.00 |
16.00 |
137 |
0.014 |
|
includes |
301.00 |
304.00 |
3.00 |
208 |
0.021 |
|
LK08-01 |
261.50 |
264.95 |
3.15 |
97 |
0.010 |
|
and |
338.00 |
340.00 |
2.00 |
164 |
0.016 |
|
LK08-02 |
107.00 |
116.00 |
9.00 |
97 |
0.010 |
|
LK08-09 |
37.00 |
52.00 |
15.00 |
90 |
0.009 |
|
includes |
111.00 |
116.00 |
5.00 |
122 |
0.012 |
|
LK08-09 |
151.00 |
161.00 |
10.00 |
85 |
0.008 |
|
LK08-02 |
133.00 |
194.50 |
61.50 |
80 |
0.008 |
|
includes |
152.00 |
155.00 |
3.00 |
105 |
0.010 |
|
includes |
139.00 |
154.00 |
15.00 |
171 |
0.017 |
|
LK08-09 |
176.00 |
181.00 |
5.00 |
180 |
0.018 |
|
and |
169.00 |
191.00 |
22.00 |
148 |
0.015 |
|
LK08-10 |
23.83 |
32.00 |
8.17 |
120 |
0.012 |
|
LK08-02 |
223.30 |
296.00 |
72.70 |
72 |
0.007 |
|
LK08-10 |
119.00 |
120.00 |
1.00 |
107 |
0.011 |
|
includes |
239.00 |
290.00 |
51.00 |
84 |
0.008 |
|
LK08-10 |
145.00 |
159.00 |
14.00 |
111 |
0.011 |
|
includes |
242.00 |
253.00 |
11.00 |
142 |
0.014 |
|
includes |
145.00 |
153.00 |
8.00 |
121 |
0.012 |
|
and |
265.00 |
268.00 |
3.00 |
268 |
0.027 |
|
LK08-10 |
221.00 |
229.00 |
8.00 |
94 |
0.009 |
|
LK08-02 |
315.00 |
346.00 |
31.00 |
76 |
0.008 |
|
LK08-10 |
262.00 |
263.00 |
1.00 |
113 |
0.011 |
|
includes |
318.00 |
336.00 |
18.00 |
95 |
0.010 |
|
LK08-10 |
336.00 |
345.00 |
9.00 |
114 |
0.011 |
|
includes |
320.00 |
329.00 |
9.00 |
132 |
0.013 |
|
includes |
340.00 |
341.00 |
1.00 |
321 |
0.032 |
|
LK08-03 |
12.00 |
15.00 |
3.00 |
144 |
0.014 |
|
LK08-10 |
369.00 |
385.00 |
16.00 |
141 |
0.014 |
|
LK08-03 |
44.00 |
48.00 |
4.00 |
123 |
0.012 |
|
includes |
370.00 |
371.00 |
1.00 |
589 |
0.059 |
|
LK08-03 |
142.00 |
144.00 |
2.00 |
100 |
0.010 |
|
LK08-10 |
406.00 |
420.00 |
14.00 |
195 |
0.020 |
|
LK08-03 |
191.00 |
206.00 |
15.00 |
103 |
0.010 |
|
includes |
415.00 |
420.00 |
5.00 |
242 |
0.024 |
|
includes |
202.00 |
206.00 |
4.00 |
169 |
0.017 |
|
LK08-11 |
184.00 |
193.00 |
9.00 |
95 |
0.010 |
|
LK08-03 |
260.10 |
305.00 |
44.90 |
129 |
0.013 |
|
includes |
189.00 |
193.00 |
4.00 |
123 |
0.012 |
|
includes |
261.00 |
280.00 |
19.00 |
191 |
0.019 |
|
LK08-11 |
199.40 |
201.00 |
1.60 |
110 |
0.011 |
|
LK08-04 |
132.00 |
160.00 |
28.00 |
90 |
0.009 |
|
LK08-11 |
210.00 |
211.00 |
1.00 |
144 |
0.014 |
|
includes |
138.00 |
160.00 |
22.00 |
98 |
0.010 |
|
LK08-11 |
316.00 |
320.00 |
4.00 |
173 |
0.017 |
|
LK08-04 |
227.35 |
229.35 |
2.00 |
103 |
0.010 |
|
LK08-11 |
332.00 |
371.00 |
39.00 |
147 |
0.015 |
|
LK08-04 |
302.00 |
314.00 |
12.00 |
182 |
0.018 |
|
includes |
348.00 |
349.00 |
1.00 |
525 |
0.052 |
|
LK08-05 |
112.00 |
122.00 |
10.00 |
145 |
0.014 |
|
LK08-11 |
384.00 |
385.00 |
1.00 |
104 |
0.010 |
|
LK08-05 |
293.00 |
294.00 |
1.00 |
102 |
0.010 |
|
LK08-11 |
387.00 |
388.00 |
1.00 |
102 |
0.010 |
|
LK08-06 |
50.00 |
56.15 |
6.15 |
109 |
0.011 |
|
LK08-11 |
424.60 |
436.27 |
11.67 |
352 |
0.035 |
|
LK08-07 |
62.36 |
81.00 |
18.64 |
102 |
0.010 |
|
includes |
425.50 |
434.50 |
9.00 |
419 |
0.042 |
|
includes |
65.00 |
76.00 |
11.00 |
114 |
0.011 |
|
LK08-12 |
18.95 |
22.00 |
3.05 |
98 |
0.010 |
|
LK08-07 |
153.52 |
159.10 |
5.58 |
101 |
0.010 |
|
LK08-12 |
145.00 |
150.00 |
5.00 |
124 |
0.012 |
|
LK08-07 |
189.00 |
254.00 |
66.00 |
100 |
0.010 |
|
LK08-12 |
160.00 |
162.00 |
2.00 |
100 |
0.010 |
|
includes |
203.00 |
215.00 |
12.00 |
122 |
0.012 |
|
LK08-12 |
176.00 |
178.00 |
2.00 |
113 |
0.011 |
|
and |
224.00 |
244.00 |
20.00 |
132 |
0.013 |
|
LK08-12 |
184.00 |
203.00 |
19.00 |
102 |
0.010 |
|
LK08-07 |
273.46 |
285.08 |
11.62 |
81 |
0.008 |
|
includes |
184.00 |
196.00 |
12.00 |
114 |
0.011 |
|
includes |
273.46 |
276.00 |
2.54 |
121 |
0.012 |
|
LK08-12 |
230.00 |
231.00 |
1.00 |
136 |
0.014 |
|
and |
282.00 |
285.08 |
3.08 |
128 |
0.013 |
|
LK08-12 |
237.00 |
241.66 |
4.66 |
102 |
0.010 |
|
LK08-07 |
335.00 |
340.00 |
5.00 |
138 |
0.014 |
|
LK08-12 |
256.00 |
258.00 |
2.00 |
139 |
0.014 |
|
includes |
338.00 |
340.00 |
2.00 |
262 |
0.026 |
|
LK08-12 |
273.00 |
291.00 |
18.00 |
121 |
0.012 |
|
LK08-08 |
106.30 |
107.30 |
1.00 |
164 |
0.016 |
|
includes |
283.00 |
284.00 |
1.00 |
263 |
0.026 |
|
LK08-08 |
110.23 |
111.23 |
1.00 |
159 |
0.016 |
|
LK08-12 |
443.00 |
445.00 |
2.00 |
339 |
0.034 |
|
LK08-08 |
171.86 |
186.00 |
14.14 |
82 |
0.008 |
|
LK08-12 |
453.00 |
477.00 |
24.00 |
113 |
0.011 |
|
includes |
174.86 |
183.00 |
8.14 |
93 |
0.009 |
|
includes |
472.00 |
476.00 |
4.00 |
285 |
0.028 |
|
includes |
174.86 |
177.86 |
3.00 |
126 |
0.013 |
|
LK08-12 |
490.00 |
493.00 |
3.00 |
100 |
0.010 |
|
LK08-08 |
225.55 |
237.55 |
12.00 |
96 |
0.010 |
|
|
|
|
|
|
|
|
includes |
232.55 |
234.55 |
2.00 |
258 |
0.026 |
|
|
|
|
|
|
|
Approximately 25 percent of the drill core from the entire 4,004.4 metre program assayed in excess of 40 ppm U3O8, and this portion of the drill core contained a weighted average of 110 ppm U3O8. These calculations were done without regard to the thickness or continuity of any mineralized zone.
The 2008 drilling program has significantly expanded the dimensions of the mineralized system. The complex of granitic sills is still open at depth, and it is also open to the north, east and west. The relatively narrow intersections in holes LK08-06 and -06 may be an indication that the mineralization is starting to become leaner in a northwesterly direction. To the southwest of the area tested in 2008 is a 500 metre by 400 metre area that was drilled by Getty Mines in 1976 and 1978. The average depth of Getty�s holes was 87 metres and the deepest hole was only 181 metres.
Further to the southwest, very limited ground reconnaissance in December, to check radiometric anomalies from an airborne survey, located uranium-bearing pegmatitic granite of the same type as was encountered in Diamond drill holes. The airborne radiometric survey defines an anomalous area 3600 metres long, from southwest to northeast, and 800 metres wide. The total area tested by the 2008 program and the earlier 1976-1978 drilling measures 1200 metres long by a maximum of 700 metres wide.
Terra Ventures plans to carry out additional Diamond drilling at Lac Kachiwiss with a view to determining the full extent of the mineralized system, as well as infill drilling at a closer spacing, aimed at defining a resource.
Technical information in this news release has been prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a consultant to the company and a Qualified Person as defined in NI 43-101. Assays quoted herein were performed by Activation Laboratories Ltd. of Ancaster, Ontario using the DNC (delayed neutron counting) method. Activation Laboratories Ltd. is accredited under ISO/IEC 17025 with CAN-P-1579.
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 uraniu m business.
For further particulars about 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 board of directors of
TERRA VENTURES INC.
�Gunther Roehlig�
Gunther Roehlig, President
Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Jeffery Szita : jszita@renmarkfinancial.com
Montreal � Tel.: 514 939-3989 / Fax: 514 939-3717
Toronto � Tel.: 416 644-2020 / Fax: 416 644-2021
www.renmarkfinancial.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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