(TSX VENTURE: TEN) Terraco Gold Corp. ("Terraco") is pleased to
announce assay results from the first two diamond drill core holes
completed at its Almaden Project, Washington County, Idaho. Both
HQ3 core holes, TAL-751C and TAL-752C, encountered significant gold
mineralization in the upper 91 metres (300 feet) of drilling. In
addition, deeper zones of mineralization have been identified.
Drill highlights include:
-- Hole TAL-751C intersected 53.3 m ("metres") averaging 1.083 gpt ("grams
per tonne") gold (175 feet averaging 0.032 opt ("Troy ounces per short
ton") gold). This intercept includes the following:
- 27.4 m averaging 1.595 gpt gold (90 ft of 0.047 opt gold); and
- 12.2 m averaging 2.225 gpt gold (40 ft of 0.065 opt gold).
-- Hole TAL-752C intersected 85.4 m averaging 0.840 gpt gold (280 ft @
0.025 opt gold).
-- Additional gold mineralization deeper in Hole TAL-752C of 7.6 m
averaging 0.513 gpt gold (25 ft averaging 0.015 opt gold), from 160.0 to
167.6 m (525 to 550 feet deep) supports management's concept of
opportunity at depth.
"We are very happy with the widths and near surface gold results
in the first two core holes drilled at Almaden. Not only are we
seeing better average gold grades than the current NI43-101
compliant resource but we are seeing deeper zones of anomalous gold
mineralization beneath the defined resource by drilling much
further than previous operators. Terraco is testing to depths (to
600 m or 200 feet) that have never been drilled before in an effort
to identify potential feeders," commented Todd Hilditch, President
and CEO.
Drill and Program Summary
The first holes of the Phase I program are designed to test for
higher grade zones of gold near surface (within 90 m or 300 feet)
by utilizing core drilling and to initiate testing for high-grade,
bonanza-style, structurally-controlled gold mineralization to depth
(to 600 m or 2,000 feet). The core drilling is aiding in further
understanding local, deeper faulting and alteration and how these
important factors may have impacted potential precious metals
mineralization at the Almaden project area, where mineralization is
open to the north and to the south. Drill hole TAL-751-C and
TAL-752C terminated at 430 m (1411 feet) and 382 m (1252 feet),
respectively.
The near surface gold mineralized intervals are composed,
generally, of surficial sinter deposits and sinter breccias grading
to silicified, often brecciated, sandstones, cut by chalcedonic
quartz and quartz-calcite veins.
Gold values in the first two holes averaged better than the
National Instrument 43-101, Standards of Disclosure for Mineral
Projects ("NI 43-101") compliant resource average grade of 0.7 gpt
through the near surface resource. Grade is often variable within a
resource area and, as such, core drilling is being used in order to
get the most representative samples compared to those from rotary
and reverse circulation drilling (which make up the vast majority
of the historic drilling at Almaden). The Almaden project currently
hosts a NI 43-101 compliant measured resource of 239,000 ounces of
gold (10,810,000 tons grading 0.022 opt), an indicated resource of
625,000 ounces of gold (32,240,000 tons grading 0.019 opt) and an
inferred resource of 84,000 ounces of gold (5,270,000 tons grading
0.016 opt), at the cut-off grades of 0.008 opt, 0.012 opt, and
0.023 opt for the oxide, mixed, and sulfide mineralization,
respectively.
In drill hole 752C, the anomalous gold intercept containing 7.6
m of 0.513 gpt gold, from 160.0 to 167.6 m (25 ft averaging 0.015
opt gold from 525 to 550 feet deep) supports the concept of
mineralization occurring at depth, distal to, though possibly
associated, with high grade feeder zones. Further deep drilling
continues to identify the geological inputs in the area and test
for the feeder zones.
To date, five core holes have been drilled at Almaden with core
depths as deep as 2,006 feet (611.5 meters).
Assay results are summarized in the table below. The map showing
the drill hole locations will be available at www.terracogold.com
later today.
Drill Results:
Drill Inter-
Hole val Gold From To Interval Gold From To
Number Area (ft) (opt) (ft) (ft) (m) (gpt) (m) (m)
---------------------------------------------------------------------------
Main
TAL-751C Pit 175 0.032 0 175 53.3 1.083 0 53.3
including 90 0.047 20 110 27.4 1.595 6.1 33.5
including 40 0.065 25 65 12.2 2.225 7.6 19.8
20 0.012 185 205 6.1 0.403 56.4 62.5
5 0.028 215 220 1.5 0.954 65.6 67.1
TAL-752C Main 280 0.025 30 310 85.4 0.84 9.1 94.5
30 0.017 355 385 9.2 0.575 108.1 117.3
25 0.015 525 550 7.6 0.513 160 167.6
Assay determinations for gold were made by 50 gram fire assay, using an AA
finish.
Analyses were performed by ALS Minerals USA, Inc. (Chemex), Reno, Nevada.
Drilling at Almaden is being conducted by Marcus and Marcus
Exploration, Coeur d'Alene, Idaho and Core One Drilling Inc,
Montrose, Colorado.
The exploration and drill program for Almaden was designed by
Charles Sulfrian, C.P.G., Vice President, Exploration for Terraco.
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,
Standards for Disclosure of Mineral Projects unless otherwise
noted.
Terraco Gold Corp. is a mineral exploration company, listed on
the TSX Venture Exchange under the symbol "TEN". Please visit
Terraco's website at www.terracogold.com for additional
information.
ON BEHALF OF THE BOARD
Todd Hilditch, President and CEO
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Terraco Gold Corp. Todd Hilditch President and CEO
(604) 443-3831 or Toll Free: 1-877-792-6688 (604) 682-3860 (FAX)
info@terracogold.com www.terracogold.com
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