Midwest Northeast Uranium Project Intercepts 6% Nickel Over 1.7m
Vancouver, B.C. - April 25, 2008 - Terra Ventures Inc. (TSX-V: TAS) provides an update on the Midwest NorthEast Uranium property in which Terra owns a 10% production carried interest.
In a press release dated April 25, 2008 Hathor reports: Hathor Exploration Limited (HAT-TSX.V) is pleased to announce that it has received geochemical results for basement-hosted mineralization encountered in Diamond drill hole MWNE-08-12 at the Roughrider Zone on its 90%-owned Midwest NorthEast project. Significant intersections, listed below, include nickel (Ni) values up to 17.22%, cobalt (Co) to 1.92%, molybdenum (Mo) to 2.35% and copper (Cu) to 0.34%. These results occur within the 46.4 metre zone of uranium mineralization (having U3O8 assay results of up to 40.2%) intersected in drill hole MWNE-08-12 (see Hathor News Release dated March 3, 2008).
Metals such as nickel, cobalt, lead and arsenic are commonly associated with unconformity-associated uranium deposits in the Athabasca Basin.
For example, at the planned open-pit Midwest mine of AREVA Resources Canada Inc., Denison Mines Corp. and OURD Canada Co. Ltd., report NI 43-101 compliant Probable Ore Reserves of 345,500 tonnes at an average grade of 5.47% U3O8, 4.37% Ni, and 0.33% Co. This sandstone-hosted ore deposit, located about 5 km southwest of Hathor's Roughrider Zone, consists primarily of uranium oxides (uraninite and pitchblende) with a suite of Ni-Co arsenides, sulphides and sulpharsenides in a clay matrix.
All samples were analysed by ICP-ES 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), General Requirements for the Competence of Mineral Testing and Calibration Laboratories. All metal intervals reported below have been taken to a 0.1% cut-off.
|
From (m) |
To (m) |
Interval (m) |
Grade (wt.%) |
Nickel |
244.0 |
245.7 |
1.7 |
6.05 |
Including |
244.5 |
245.0 |
0.5 |
17.22 |
|
285.0 |
287.0 |
2.0 |
0.50 |
Including |
286.0 |
287.0 |
1.0 |
0.81 |
|
|
|
|
|
Cobalt |
242.0 |
245.3 |
3.3 |
0.38 |
|
285.0 |
287.0 |
2.0 |
1.17 |
Including |
286.0 |
287.0 |
1.0 |
1.92 |
|
|
|
|
|
Copper |
242.0 |
245.0 |
3.0 |
0.21 |
|
250.0 |
251.9 |
1.9 |
0.27 |
|
271.4 |
274.0 |
3.6 |
0.34 |
|
|
|
|
|
Molybdenum |
242.0 |
245.0 |
3.0 |
0.59 |
|
261.5 |
264.0 |
2.5 |
0.58 |
|
269.2 |
273.4 |
4.2 |
0.54 |
Including |
272.8 |
273.4 |
0.6 |
2.35 |
Hathor Exploration's Senior Project Geologist, Dr Alistair McCready, commented: "These high metal values within the basement, emphasize the potential for significant unconformity-style mineralization to occur at/or above the unconformity such as seen at the AREVA's Mae Zone located 1,800 m to the southwest."
For further particulars about the Terra Ventures, please contact Gunther Roehlig, Director, 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, Director
Renmark Financial Communications Inc.
Christopher Wells : cwells@renmarkfinancial.com
Julien Ouimet : jouimet@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
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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Terra Ventures Inc.
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EXPLORATION STAGE |
CODE : TAS.V |
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Terra Ventures Inc. is a uranium development stage company based in Canada. Terra Ventures Inc. holds various exploration projects in Canada. Its main exploration properties are TITAN'S CASTLE, HATHOR RUSSEL LAKE SOUTH, LAC KACHIWISS, MIDWEST NORHTEAST, REN GOLD and WHEELER RIVER C4 C5 C6 in Canada. Terra Ventures Inc. is listed in Canada and in United States of America. Its market capitalisation is CA$ 35.3 millions as of today (US$ 35.9 millions, € 25.4 millions). Its stock quote reached its lowest recent point on December 29, 2005 at CA$ 0.12, and its highest recent level on December 31, 2007 at CA$ 1.87. Terra Ventures Inc. has 61 943 000 shares outstanding. |