Standard & Poor’s announced today that it has commenced
Factual Stock Report coverage Terra Ventures, Inc
About Terra Ventures Inc.
Terra Ventures Inc.
(TSX-V: TAS; OTCQX: TASFF; FSE: G7K), trades in the United States on OTCQX under the symbol “TASFF”. Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. 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.
Terra’s two main assets are a carried interest in Hathor Explorations Midwest Northeast Property containing the Roughrider deposit - 27.88MM lbs U3O8 at 2.88% including 24.2MM lbs at 11.7%. An updated resource estimate incorporating Roughrider Zone east is due out Q1 2011 and a three rig drill program is underway. The program is expected to run for the duration of the winter season. Between 35 and 40 holes are planned, for approximately 15,000 meters in total. Terra’s interest is fully carried to completion of bankable feasibility study.
Terra recently acquired 3 claims (designated C-4, C-5 and C-6) adjoining the Wheeler River property of Denison Mines Corp. (60%), Cameco Corp. (30%) in the southeastern part of the Athabasca Basin containing the "Phoenix deposit" – 35.6MM lbs U3O8 at 17.99% indicated and 3.8MM lbs U3O8 at 7.27% inferred. The C-6 claim lies approximately one kilometer north of the Phoenix A & B zones. The Property lies midway between the producing McArthur River uranium mine and the former producing Key Lake uranium mine.
Previous airborne EM surveys have defined conductors on the C-4 and C-5 blocks. Previous drilling in the area has resulted in the recognition of a broad zone of clay alteration of the type that is always associated with unconformity-type uranium mineralization in the Athabasca Basin. There is also evidence from prior drilling that a quartzite ridge in the basement, similar to that which appears to be at least partially responsible for localizing the giant McArthur River ore body and the Phoenix zones, is present on the C-5 block.