Uranium Investor Information Website: Click Here to Return to Main Page GoldSeek.com GoldReview.com MolySeek.com SilverSeek.com 
Advertise - Bookmark - Contact - - Update Page 
List Sign-Up
E-mail
Subscribe
Unsubscribe


 

Hathor Receives Mineral Lease for Roughrider

By: Terra Ventures Inc.



-- Posted Tuesday, April 5 2011 | Digg This ArticleDigg It! |

Vancouver, April 5, 2011 - 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 April 5, 2011, Hathor reported:

“Hathor Exploration Limited (TSX:HAT) is pleased to announce that it has received three Mineral Leases from the Saskatchewan government covering its Roughrider uranium deposit located in the Athabasca Basin.  This is a major milestone for not only the project, but also the 35 year mining district. 

 

The Roughrider uranium deposit was discovered in 2008 on the Midwest Northeast Property, which was comprised of three mineral claims covering 543 ha. The largest claim, S-107243, was staked in 2004 and covers 502 hectares.  Exploration and mining in Saskatchewan is governed by the Mineral Disposition Regulations, 1986, administered by the Mines Branch of the Saskatchewan Ministry of Energy and Resources.  There are two key land tenure milestones that must be met in order for commercial production to occur in Saskatchewan: 1. Conversion of a Mineral Claim to Mineral Lease, and; 2. Granting of a Mining Lease to cover the specific area within a Mineral Lease where mining is to occur.  Hathor has successfully achieved the first milestone for Roughrider and the Midwest Northeast Property: conversion to a mineral lease. 

 

This is also a significant milestone for the Athabasca Basin, the preeminent high grade uranium district in the world, with more than 35 years of mining history from 5 operations.  Government of Saskatchewan records show that the last mineral lease issued for a uranium project in the Athabasca Basin was in 1985.

 

As shown on Figure 1 (below), the Roughrider project is located favourably for cost-effective exploration and mining.  It 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 lease on the Property, carried to the completion of a positive feasibility study and public announcement of intention to go into commercial production.

 

Alistair McCready, Ph.D., P.Geo., Hathor's VP of Exploration with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief Executive 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, prospective exploration 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 Terra Ventures, please contact Ryan Johnson, Investor Relations, 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

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. 

 

Figure 1.     Location of the Midwest Northeast Property within the northern part of the prolific eastern corridor of the Athabasca Basin, Saskatchewan.


-- Posted Tuesday, April 5 2011 | Digg This ArticleDigg It! |



© UraniumSeek.com, Gold Seek LLC
The content on this site is protected by U.S. and international copyright laws and is the property of UraniumSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on UraniumSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.


Disclaimer
The views contained here may not represent the views of UraniumSeek.com, its affiliates or advertisers. UraniumSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of UraniumSeek.com, is strictly prohibited. In no event shall UraniumSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein. :: Error in mySQL ::
mySQL error: Duplicate entry '1529877999' for key 'PRIMARY'
In the file: /home/urseek/public_html/47/counter.php
Line number: 118
Error number: 1062