Terraco Gold Announces New Drill Results from its Idaho Gold Project, Including 60.4 m of 1.065 gpt Gold and 76.8 m of 0.939 ...
September 06 2012 - 7:30AM
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 the remaining 6 holes of the spring 2012 core drilling
program. Assay results from this in-fill core drilling again encountered
significant intercepts from surface to 76.8 metres ("m") or 252 feet ("ft").
Many holes intersected gold grades exceeding the average grade of the deposit
and include shorter sections assaying up to 10.80 grams per tonne ("gpt") gold.
Drill Highlights Include:
-- Hole TAL-787C intersected 60.4 m averaging 1.065 gpt gold, including
21.3 m averaging 1.881 gpt gold with 13.7 m of 2.246 gpt gold;
-- Hole TAL-792C intersected 76.8 m averaging 0.939 gpt gold, including
12.2 m averaging 1.435 gpt gold, 4.6 m of 1.209 gpt gold, 7.6 m of 1.662
gpt gold and 1.5 m averaging 2.270 gpt gold;
-- Hole TAL-793C intersected 48.8 m averaging 0.944 gpt gold, including
18.3 m averaging 1.373 gpt gold and 3.0 m averaging 1.625 gpt gold;
-- Hole TAL-794C intersected 24.4 m averaging 1.000 gpt gold, including
10.7 m averaging 1.409 gpt gold, and an additional 13.7 m of 1.794 gpt
gold; including 1.5 m of 10.800 gpt gold.
A table summarizing this round of drill results can be found at the conclusion
of this news release.
Todd Hilditch, President and CEO of Terraco, stated: "We are very pleased with
the success of the spring 2012 drill program. Today's drill results continue to
show good gold grade over longer widths within the deposit. In addition, this
round of drilling encountered some very interesting higher grade, sulfide rich
breccia which could represent a broader network of near vertical discrete
feeders along high angle structures. This interpretation deserves further study
and will form part of the ongoing decision-making process for further
exploration."
Drill Program Summary
The 2012 exploration program was designed to accomplish 3 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 rotary and
RC drilling; and
-- compare grades between various drilling techniques.
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)
----------------- --------------------------------------------------
TAL-786C Main
Zone 21.3 0.483 6.1 27.4 70 0.014 20 90
Including 4.6 0.925 7.6 12.2 15 0.027 25 40
13.7 0.734 32.0 45.7 45 0.021 105 150
Including 1.5 1.780 35.1 36.6 5 0.052 115 120
TAL-787C Main
Zone 60.4 1.065 3.7 64.0 198 0.031 12 210
Including 21.3 1.881 16.8 38.1 70 0.055 55 125
with 13.7 2.246 18.3 32.0 45 0.066 60 105
1.5 0.514 67.1 68.6 5 0.015 220 225
3.0 0.488 71.6 74.7 10 0.014 235 245
TAL-788C South
Pit 53.3 0.687 3.0 56.4 175 0.020 10 185
Including 9.1 0.991 25.9 35.1 30 0.029 85 115
TAL-792C Main
Zone 76.8 0.939 0.0 76.8 252 0.027 0 252
Including 12.2 1.435 4.6 16.8 40 0.042 15 55
Including 4.6 1.209 36.6 41.1 15 0.035 120 135
Including 7.6 1.662 61.0 68.6 25 0.048 200 225
Including 1.5 2.270 74.7 76.2 5 0.066 245 250
TAL-793C Main
Zone 48.8 0.944 9.1 57.9 160 0.028 30 190
Including 18.3 1.373 18.3 36.6 60 0.040 60 120
Including 3.0 1.625 44.2 47.2 10 0.047 145 155
1.5 0.835 68.6 70.1 5 0.024 225 230
TAL-794C Main
Zone 24.4 1.000 9.1 33.5 80 0.029 30 110
Including 10.7 1.409 13.7 24.4 35 0.041 45 80
13.7 1.794 41.1 54.9 45 0.052 135 180
Including 1.5 10.800 47.2 48.8 5 0.316 155 160
1.5 0.398 67.1 68.6 5 0.012 220 225
1.5 0.538 89.9 91.4 5 0.016 295 300
The table above shows only those assay results greater than or equal to 1.5 m of
greater than or equal to 0. 340 gpt gold or 5 ft of greater than or equal to
0.010 Troy ounces per ton ("opt") gold. Intervals were calculated 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 ft to m. 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. of Reno Nevada.
Please click on the link below for a map of the 2012 drilling results, including
those of today's,, which is also available on Terraco's website at
www.terracogold.com.
http://www.TerracoGold.com/i/projects/05sept2012_dh_map_pr.jpg
Almaden Gold Resource
The National Instrument 43-101, Standards of Disclosure for Mineral Projects
("NI 43-101"), compliant resource has an average grade of 0.02 opt (0.7 gpt) in
the near surface flat-lying tabular resource. The majority of previous drilling
was completed using conventional rotary (RAB) and RC drilling. The NI 43-101
compliant resource is based on cut-off grades of 0.008 opt, 0.012 opt and 0.023
opt for the oxide, mixed and sulfide mineralization, respectively:
-- Measured resource of 239,000 ounces of gold (10,810,000 tons grading
0.022 opt);
-- Indicated resource of 625,000 ounces of gold (32,240,000 tons grading
0.019 opt);
-- Inferred resource of 84,000 ounces of gold (5,270,000 tons grading 0.016
opt); and
-- Total gold resource of 948,000 ounces (48,320,000 tons grading 0.020
opt).
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 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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