Terra Ventures Inc. (TSX VENTURE: 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
June 16,2010, Hathor reported:
"Hathor Exploration Limited (HAT: TSX-V) is pleased to announce
strong initial results from ongoing metallurgical test work for the
Roughrider uranium deposit on it's Midwest Northeast property,
northeastern Athabasca Basin, northern Saskatchewan.
Composite samples from six mineralized drill holes in the
central part of the deposit were used for leach tests, solvent
extraction and uranium precipitation. Figure 1
(http://hathorexplorationltd.createsend4.com/t/r/l/nuygy/itlrkttkk/j)
shows the hole locations. Hole numbers are: MWNE-08-12, 24, 28, 30,
32 and 33. The samples used for the leach tests were grouped into
three composites designed to provide a range of head grades. Table
1 below summarizes composite head grades achieved, and leach
recoveries obtained.
Table 1. Geochemical Analyses and Summary Leach Results
---------------------------------------------------------------------------
Analyte Unit Composite 1 Composite 2 Composite 3
---------------------------------------------------------------------------
2 3
---------------------------------------------------------------------------
U3O8 wt% 6.11 2.68 0.62
---------------------------------------------------------------------------
Ag g/t 34 3.1 12
---------------------------------------------------------------------------
As wt% 0.052 0.15 0.0065
---------------------------------------------------------------------------
Co wt% 0.022 0.021 0.0036
---------------------------------------------------------------------------
Cu wt% 0.077 0.12 0.042
---------------------------------------------------------------------------
Mo wt% 0.24 0.071 0.17
---------------------------------------------------------------------------
Ni wt% 0.025 0.066 0.0078
---------------------------------------------------------------------------
Pb wt% 1.98 0.085 0.045
---------------------------------------------------------------------------
Se wt% 0.0029 0.0016 less than 0.0001
---------------------------------------------------------------------------
Zn wt% 0.046 0.018 less than 0.004
---------------------------------------------------------------------------
Sample Length 24.1 m 22 m 31.5 m
---------------------------------------------------------------------------
U3O8 Recovery 98.9% 98.1% 97.5%
---------------------------------------------------------------------------
The composites confirm that Roughrider, on a deposit scale,
contains low levels of deleterious elements such as arsenic,
selenium and base metals. This is a significant positive attribute
for the deposit with respect to milling.
The optimum leach conditions determined for Roughrider are
similar to optimized mill parameters typical of northern
Saskatchewan uranium operations. They include:
-- leach temperature of 50 deg. C,
-- 12 hour leach retention time,
-- free sulphuric acid concentration of 20 g/L
-- oxidation potential of approximately 500 mV with sodium chlorate oxidant
addition of 1 to 5 kg/t.
Preliminary analysis of the uranium product from the leach test
program showed that uranium produced from Roughrider mineralization
would meet typical refinery and enrichment product quality
specifications for market grade yellow cake. A small sample of
yellow cake from this metallurgical programme is displayed on the
Hathor website.
In addition to leach tests, four composite samples from one
drill hole (drill hole MWNE-09-85) were used to establish a work
index for grinding (ball mill work index). The Work Index tests
show that the Roughrider mineralization has a low energy
requirement compared to other northern Saskatchewan uranium ores.
Ball mill Bond Work Index values ranged from 7.2 to 11.1 kWh/t for
four different rock types tested.
Metallurgical work is currently ongoing. Results reported here
are summarized in the 43-101 compliant, independent technical
report completed on the Roughrider uranium deposit by Scott Wilson
Roscoe Postle Associates Inc. (dated December 18, 2009, and files
on SEDAR). Results yet to be reported include: mineralogical
examination; confirmation leach tests; uranium upgrading and
product precipitation, and; characterization of tailings and
effluent treatment.
Melis Engineering Ltd, recognized specialists in uranium
processing, have concluded that "Uranium from the Roughrider
mineralization can be recovered under relatively mild leach
conditions producing a product of acceptable quality using typical
northern Saskatchewan uranium process conditions. Testwork is
continuing to further define process and waste treatment
parameters".
Ownership
Terra Ventures Inc. owns a qualified 10% interest in the Midwest
Northeast property, carried through the completion of a positive
feasibility study.
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
"continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve
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
Toll Free: 1-866-683-0911 or (604) 683-0911 (604) 683-7161 (FAX)
www.terrauranium.com
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