Terraco Gold Announces Results of Second Set of Drill Hole Assays from its Idaho Project, Including the Best Intersection Dri...
25 Julio 2012 - 6:30AM
Marketwired Canada
Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco" or the "Company") is pleased to
report additional assay results from the 2012 drill program completed at its
Almaden (Nutmeg Mountain) Project located in Washington County, Idaho. The
Company is reporting 8 drill holes in this release and has now reported 18 of
the 32 core holes drilled this year. In-fill and metallurgical core drilling
continues to encounter significant intercepts in these holes from surface to
76.2 metres ("m") or 250 feet ("ft").
Drill Highlights Include:
-- Hole MET-2 intersected 76.2 m averaging 1.195 grams per tonne ("gpt")
gold from surface to 76.2 m (250 ft averaging 0.035 Troy ounces per
short ton ("opt") gold from surface to 250.0 ft), including 27.0 m
averaging 2.168 gpt gold to 40.9 m (88.5 ft of 0.063 opt gold to 134
ft), with 5.0 m of that inclusion averaging 3.220 gpt gold to 29.4 m
(16.5 ft of 0.094 opt gold to 96.5 ft);
-- Hole TAL-781C intersected 61.6 m averaging 1.100 gpt gold from surface
to 61.6 m (202 ft of 0.032 opt gold from surface to 202 ft), including
7.6 m averaging 1.488 gpt gold to 18.3 m (25 ft of 0.043 opt gold to 60
ft), and 18.3 m averaging 1.408 gpt gold to 39.6 m (60 ft of 0.041 opt
gold to 130 ft); and
-- Hole TAL-785C intersected 44.2 m averaging 1.182 gpt gold from 3.0 to
47.3 m (145 ft of 0.034 opt gold from 10 to 155 ft), including 18.3 m
averaging 2.032 gpt gold to 29.0 m (60 ft of 0.059 opt gold to 95 ft).
A table summarizing this round of drill results can be found at the conclusion
of the news release.
Todd Hilditch, President and CEO of Terraco, said: "We are excited about this
second set of results, from our Idaho advanced -stage project, which include the
best intercept of grade and thickness drilled by Terraco to date. Terraco looks
forward to the results of the remaining drill holes to be released in the coming
weeks."
Drill Program Summary
The 2012 exploration program was designed to accomplish three goals:
1. continue to test continuity and confirm the grade of the deposit
internally by obtaining better, more representative, samples through the
use of core drilling instead of reverse-circulation ("RC") drilling;
2. obtain large diameter core samples for metallurgical testwork that will
address specific questions unanswered in prior metallurgical studies;
and
3. explore for high grade feeder zones below and laterally away from the
known resource.
Terraco's 2012 drill program utilized HQ3 core drilling in mostly shallow holes
in 4 different areas of the deposit aimed at:
-- better defining resources in the areas of older conventional or rotary
air blast and RC drilling; and
-- measuring the difference in grades between the various drill techniques.
Metallurgical Testing
Drilling also included large diameter core to provide sufficient material /
larger particle size fractions for column test work sent to McClelland
Laboratories in Sparks, Nevada. Two of the 3 drilled metallurgical holes (MET-1
and MET-2) have returned the best intercepts of Terraco's designed program.
Sample compositing and testwork are currently underway. Testing will focus on
leach recoveries by ore type and size fractions and should be completed in
calendar Q3/4.
Terraco, for the 2012 program to date, has drilled 28 HQ3 holes for a total of
2,462.3 m (8,078 ft) and 4 large diameter (4 inch) core holes for metallurgical
purposes amounting to 298.7 m (980 ft). The majority of the HQ3 holes were
drilled to target depths of 90 m (300 ft) or less. A few holes, drilled as deep
as 610 m (2,002 ft), tested for gold mineralization down dip along structures,
and explored for deeper feeder zones.
Assay results are summarized in the table below.
Drill
Hole Interval Gold From To Interval Gold From To
Number Area (m) (gpt) (m) (m) (ft) (opt) (ft) (ft)
---------------- ---------------------------------------------------
MET-2 South
Pit 76.2 1.195 0.0 76.2 250 0.035 0 250
Including 27.0 2.168 13.9 40.9 88.5 0.063 45.5 134
with 5.0 3.220 24.4 29.4 16.5 0.094 80 96.5
MET-3 North
Pit 25.9 0.582 0.0 25.9 85 0.017 0 85
Including 1.2 2.380 5.0 6.2 4 0.069 16.5 20.5
with 6.6 0.708 29.9 36.4 21.5 0.021 98 119.5
TAL-776C North
Zone 3.0 0.456 0.0 3.0 10 0.027 0 10
17.0 0.650 12.2 29.0 55 0.019 40 95
4.6 0.669 36.6 41.2 15 0.024 120 135
TAL-777C North
Zone Assays Pending
TAL-778C North
Zone Assays Pending
TAL-779C Main
Zone Assays Pending
TAL-780C North
Zone Assays Pending
TAL-781C Main
Zone 61.6 1.100 0.0 61.6 202 0.032 0 202
Including 7.6 1.488 10.7 18.3 25 0.043 35 60
Including 18.3 1.408 21.3 39.6 60 0.041 70 130
TAL-782C North
Zone 2.4 0.823 2.1 4.6 8 0.024 7 15
3.0 0.673 7.6 10.7 10 0.020 25 35
1.5 0.434 12.2 13.7 5 0.013 40 45
1.5 0.440 15.2 16.8 5 0.013 50 55
TAL-783C Main
Zone 27.4 0.797 1.5 29.0 90 0.023 5 95
Including 3.0 1.643 21.3 24.4 10 0.048 70 80
TAL-784C North
Zone 25.9 0.611 0.0 25.9 85 0.018 0 85
Including 6.1 1.052 0.0 6.1 20 0.031 0 20
1.5 0.340 27.4 29.0 5 0.010 90 95
1.5 0.473 33.5 35.1 5 0.014 110 115
TAL-785C South
Pit 44.2 1.182 3.0 47.3 145 0.034 10 155
Including 18.3 2.032 10.7 29.0 60 0.059 35 95
Intersections were composited using a 0.34 gpt (0.010 opt) gold cut-off and
may include short intervals of values below the cut-off grade. Intervals are
converted from feet to metres. Rounding to metres may affect interval
values.
Assay determinations for gold were made by 50 gram fire assay, using an AA
finish. Analyses were performed by ALS Minerals USA, Inc. in Reno, Nevada.
Please click on the link below for a map of the 2012 drilling released to date,
which will also available on Terraco's website at www.terracogold.com.
http://www.TerracoGold.com/i/misc/23july2012_dh_pr.jpg
Drilling during 2012 at the Almaden (Nutmeg Mountain) Project was conducted by
Marcus and Marcus Exploration of Coeur d'Alene, Idaho and National EWP, Inc., of
Hayden, Idaho.
The exploration and drill program at Terraco's Almaden (Nutmeg Mountain) Project
was designed by Charles Sulfrian, CPG, Vice President, Exploration, for Terraco
and William Snoddy, Almaden Project Manager. Unless otherwise noted, the
technical information in this release has been reviewed and approved by Charles
Sulfrian, CPG., Vice President, Exploration, of Terraco and a 'qualified
person', as defined by National Instrument 43-101,Standards of Disclosure for
Mineral Projects.
Terraco is a mineral exploration company, listed on the TSX Venture Exchange
under the symbol "TEN".
Forward-Looking Statements
Certain of the statements made and information contained herein are
"forward-looking statements" within the meaning of Canadian securities
legislation or "forward-looking information" within the meaning of the Ontario
Securities Act and the Alberta Securities Act. This includes statements
concerning the Company's plans at its mineral properties, which involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements or forward-looking
information. Forward-looking statements and forward-looking information are
subject to a variety of risks and uncertainties which could cause actual events
or results to differ from those reflected in the forward-looking statements or
forward-looking information, including, without limitation, the availability of
financing for activities, risks and uncertainties relating to the interpretation
of drill results and the estimation of mineral resources and reserves, the
geology, grade and continuity of mineral deposits, the possibility that future
exploration, development or mining results will not be consistent with the
Company's expectations, metal price fluctuations, environmental and regulatory
requirements, availability of permits, escalating costs of remediation and
mitigation, risk of title loss, the effects of accidents, equipment breakdowns,
labour disputes or other unanticipated difficulties with or interruptions in
exploration or development, the potential for delays in exploration or
development activities, the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses, commodity price
fluctuations, currency fluctuations, expectations and beliefs of management and
other risks and uncertainties. In addition, forward-looking statements and
forward-looking information is based on various assumptions. Should one or more
of these risks and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in
forward-looking information or forward-looking statements. Accordingly, readers
are advised not to place undue reliance on forward-looking statements or
forward-looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise
forward-looking statements or forward-looking information, whether as a result
of new information, future events or otherwise.
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