Three Rig Winter Drill Program is Underway at Roughrider

TSX-V : TAS          
OTC : TASFF
FSE : G7K

VANCOUVER, Jan. 20 /PRNewswire/ - 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 January 20, 2011, Hathor reported:

"Hathor Exploration Limited (HAT:TSX-V) is pleased to announce that the 2011 winter diamond drill program is underway at its Roughrider Project in the Athabasca Basin of northern Saskatchewan. 

Two rigs are now on site and drilling has begun. An additional third rig will be arriving shortly. The program will run for the duration of the winter season. Between 35 and 40 holes are planned, for approximately 15,000 metres in total.

For greater clarity going forward in 2011, the Company will refer to work on the Midwest Northeast claims (the Property) as simply the Roughrider Project. Deposits previously referred to as Roughrider and Roughrider East are part of the same over all uranium mineralizing system, and therefore will be referred to collectively as the Roughrider Uranium Deposit, which currently comprises the West Zone and the East Zone respectively. Figure 1 shows the zones in an aerial view of the Property.

As reported on Nov. 30^th, 2010, and filed on SEDAR January 14^th, 2011, the West Zone of the Roughrider uranium deposit is estimated to contain 27.81 M lbs U₃0₈ (17.21 M lbs U₃0₈ Indicated; 10.60 M lbs U₃0₈ Inferred), including a core zone of 24.25 M lbs U₃0₈ at 11.7% U₃0₈ average grade (13.70 M lbs U₃0₈ at 10.68 % U₃0₈, Indicated; 10.55 M lbs U₃0₈ at 13.07% U₃0₈ Inferred). The current resource does not include the East Zone. The Roughrider system has not been fully tested and Figure 2 shows the overall exploration and resource potential on the property.

Figure 3 shows holes planned for this winter in the immediate vicinity of the Roughrider deposit, including 23 holes on the East Zone to both infill areas of known mineralization, and to test for extensions of mineralization which is open both to the east and west.  Seven holes are planned for infill on the West Zone itself, with two additional holes planned to test for an extension of mineralization to the northeast, based on magnetics and alteration in drill core. 

Figure 4 shows the resistivity anomaly which extends for some 700m to the southwest of the East Zone.  As shown on Figure 5, the anomaly extends for 5 km to the south, and in conjunction with regional magnetic and structural patterns, defines the Midwest Trend, which currently has a proven uranium endowment of approximately 90 M lbs U₃0₈.  Figure 6 shows the scale of alteration intersected in 2010 in a drill fence across the anomaly just south of the East Zone.  This alteration will be followed up this winter with two additional fences located farther to the south (Figure 4).  Areas along the trend to the northeast and southwest of the East Zone at Roughrider are largely untested and provide significant upside potential for the project. 

Property Description

The Midwest Northeast Property is within the main uranium-producing eastern corridor of the Athabasca Basin.  The Property comprises 3 claims covering 543 ha.  Infrastructure is excellent. The Property is connected to Highway 955 by a 6 km winter road.  The property is 8.5 km north of the community of Points North and the Points North commercial airport, the main service hub for northeastern Saskatchewan.  It is within 25 km of operating uranium mine, mill and tailings facilities established at Rabbit Lake and McClean Lake during the past 35 years of production in the Athabasca. 

Terra Ventures Inc. owns a qualified 10% interest in the largest claim on the Property, carried to 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"

Gunther Roehlig, President

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.

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.

CONTACT: <p>about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company's website at <a href="http://www.terrauranium.com">www.terrauranium.com</a>.</p>

SOURCE Terra Ventures Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED