TEN Terraco Gold Corp

Terraco Gold Corp. (TSX VENTURE:TEN) and its wholly-owned subsidiary, TGC
Holdings Ltd. (collectively "Terraco" or the "Company"), are pleased to announce
initial drill results from its 2011 drill campaign at the Moonlight Gold Project
("Moonlight"), located in Pershing County, Nevada, and adjoining the northern
boundary of the Spring Valley Gold Project. The program was designed to test
several areas never previously drilled and has provided the Company with
valuable information to help guide the next round of drilling and exploration.
In addition, the recently announced acquisition of additional prospective land
adjacent to Moonlight now increases Terraco's consolidated land tenure to
approximately 35 km2 and may provide several new drill targets for follow-up. 


"We are excited that our 2011 drill program at Moonlight has returned gold on
lands never before tested at Moonlight. The primary goal of this drill program
was to confirm the geological environment at Moonlight and its potential to host
gold mineralization, and we have now shown this to be possible based on today's
results. Our geological team will now be able to use the information gathered
from this drill program to plan for a second round of drilling in 2012 to
further test mineralization at Moonlight. In addition, the newly acquired
strategic land package will also help bolster the exploration potential of the
project," stated Todd Hilditch, President and CEO of Terraco.


Drill Results 

The fall 2011 drill campaign at Moonlight included approximately 4,000 meters
("m") (13,050 feet ("ft")) of reverse circulation ("RC") drilling in 19 holes,
completed by AK Drilling of Butte, Montana, between 24 October and 21 December
2011. Drilling focused on targets related to the northerly extension of the
Black Ridge Fault zone and further defined by anomalies from aeromagnetic and
ground geophysical surveys (CSAMT/CSIP). Due to drilling difficulties associated
with locally poor ground conditions, some of the RC holes did not penetrate to
planned target depths. Some drill targets remain untested, primarily within and
to the east of the Black Ridge Fault structural zone. 


Assay highlights for the drill program include gold grades of up to 1.964 grams
per tonne ("gpt") gold (0.057 troy ounces per ton ("opt")) over 1.5m within an
interval of 1.386 gpt gold over 3.0m from 42.7m - 45.7m depth (10ft of 0.040 opt
from 140ft - 150ft) in hole TML-37. The best gold mineralization was related to
quartz veining encountered within sheared, altered volcanics of the Limerick
Formation. The table below summarizes drill results for the fall 2011 RC drill
campaign.




---------------------------------------------------------------------------
AREA    Drill     Interval   Gold   From     To Interval   Gold   From   To
        Hole           (m)  (gpt)    (m)    (m)     (ft)  (opt)   (ft) (ft)
---------------------------------------------------------------------------
SECTION                                                                    
 23     TML-36         1.5  0.337  135.6  137.2        5  0.010    445  450
                                                                           
SECTION                                                                    
 23     TML-37         3.0  1.386   42.7   45.7       10  0.040    140  150
        Including      1.5  1.964   42.7   44.2        5  0.057    140  145
---------------------------------------------------------------------------



A follow-up core drilling program is currently in the planning stage for summer
2012. It is anticipated that core drilling will be more effective given the
drilling conditions encountered in the RC program. The core program will target
those areas remaining to be tested, both at depth and as step-outs to current
drilling, as well as additional targets generated within the newly expanded land
package. In particular, some of these targets will include structural
intersections between the Black Ridge Fault zone and large displacement cross
faults. At depth, targets include units of feldspar porphyry down-dropped across
east-northeasterly trending normal faulting that intersects the Black Ridge
Fault zone along and to the north of Indian Creek. Additionally, follow-up
drilling is planned in the northern portion of the property area near the
historic Phlueger Mine, where previous drilling (2008) encountered
mineralization with an apparent thickness of 24.4m at 35.31 gpt silver,
including 10.67m of 73.03 gpt silver (80 feet of 1.03 opt silver including 35
feet of 2.13 opt silver). 


Moonlight Project

The consolidated Moonlight Project (as announced March 21, 2012) now covers more
than 35 km2 (13 mi2) and encompasses over 8,830 gross acres (3,573 hectares) of
land and 7,980 acres (3,229 hectares) of net mineral rights, providing Terraco
with a large strategic land package and exploration opportunity at its early
stage Moonlight Project. Terraco's 100%-owned Moonlight Project is located along
trend to the north of and adjoins the Spring Valley Gold Project ("Spring
Valley"). Spring Valley is a joint venture between Barrick Gold Corp. and Midway
Gold Corp., where Barrick has the right to earn a 60% interest in the Spring
Valley Project by completing work expenditures totaling US$30,000,000 before
December 31, 2013. 


Spring Valley Royalty and Royalty Option

Terraco recently completed 2 royalty transactions (see news releases dated
December 21 and 23, 2011 and March 9 and 13, 2012), giving the Company direct
royalty ownership, a royalty option and a right of first refusal on a perimeter
royalty that collectively covers the gold deposit currently outlined in the
Spring Valley National Instrument 43-101 technical report filed by Midway Gold
Corp.


The technical information in this release has been reviewed and approved by
Charles Sulfrian, C.P.G., Vice President, Exploration of Terraco and a
'qualified person', as defined by NI 43-101, unless otherwise noted.


The Company is a mineral exploration company, listed on the TSX Venture Exchange
under the symbol "TEN". Please visit the Company's website at
www.terracogold.com for additional information. 


Forward-Looking Statements

This news release contains forward-looking statements. Although the Company
believes that the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them because the Company can
give no assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature, they
involve inherent risks and uncertainties. Additional information on these and
other factors that could affect the Company's operations and financial results
are included in reports on file with Canadian securities regulatory authorities
and may be accessed through the SEDAR website (www.sedar.com).

Terraco Gold (TSXV:TEN)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Terraco Gold (TSXV:TEN)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024