SASKATCHEWAN — The initial indicated resource number for the Roughrider zone at the Midwest Northeast property is a 43-101-compliant 6.58 million lb U3O8 in the indicated category and 5.47 million lb in the inferred category. The property is owned 90% by Hathor Exploration of Vancouver and Terra Ventures has a 10% carried interest.
The estimate includes both the outer and high-grade zones. In the indicated category the tonnage is 106,000 tonnes at 1.17% U3O8 for the outer zones and 10,000 tonnes at 17.28% U3O8 in the high-grade zones. The total indicated resource is 116,000 tonnes averaging 2.57% U3O8, 0.17% As, 0.14% Ni, 0.11% Mo, 0.04% Co, 0.23% Cu and 10 ppm Se.
The initial estimate is based on 120 diamond drill holes totalling 41,830 metres and does not include results from the 2009 summer drill program. Excellent potential exists to increase resources, according to Terra.