Teryl Resources Receives Additional Gold Assay Results From Kinross Gold
September 14 2010 - 1:30PM
Marketwired
Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) is pleased
to announce that our joint venture partner, Fairbanks Gold Mining,
Inc. (FGMI), a subsidiary of Kinross Gold Corporation, reports
additional drill results as follows:
North Gil
---------------------------------------------------------------------------
Interval (feet in Assay Results Assay Results
Hole Number depth) opt Au gpt Au
---------------------------------------------------------------------------
GVR10-573 10 - 35 25 feet of 0.0489 1.676
---------------------------------------------------------------------------
GVR10-573 250 - 285 35 feet of 0.0418 1.523
---------------------------------------------------------------------------
Sourdough
---------------------------------------------------------------------------
Interval (feet in Assay Results Assay Results
Hole Number depth) opt Au gpt Au
---------------------------------------------------------------------------
GVR10-560 195 - 220 25 feet of 0.0508 1.742
---------------------------------------------------------------------------
GVR10-560 285 - 295 10 feet of 0.0322 1.104
---------------------------------------------------------------------------
GVR10-560 320 - 330 10 feet of 0.0171 0.586
---------------------------------------------------------------------------
GVR10-560 340 - 375 35 feet of 0.0121 0.415
---------------------------------------------------------------------------
---------------------------------------------------------------------------
GVR10-561 20 - 35 15 feet of 0.0175 0.599
---------------------------------------------------------------------------
GVR10-561 45 - 70 25 feet of 0.01 0.343
---------------------------------------------------------------------------
Note: opt refers to ounces per short ton and gpt refers to grams per metric
tonne. One troy ounce is equal to 34.2857 grams per metric tonne.
Two drills were working on the joint venture property. Kinross
has completed 5431' of core and 9546' of R/C drilling. Additional
assays for several holes are pending as of the date of this
report.
The goal of the 2010 program is to further delineate the strike
extension of the mineralized zones, and to infill between step-out
holes, in order to gain a better understanding of ore-zone
continuity.
Mark Robinson, P Geo. states that; "Phase II of Teryl's 2010
exploration effort will consist of the development of a 3-D model
of the mineralized areas at Gil, Gil North and Sourdough Ridge. The
3-D modelling will result in new resource estimates. A preliminary
mining plan will be developed and an economic analysis will result
in an estimated rate of return on investment (ROI). Preliminary
modelling products are expected some time in the fall of 2010."
Qualified Person
Mark S. Robinson, P. Geo., State of Alaska Licensed Geologist
No. 247 of Wrangell, Alaska, who is independent of the Company as
defined in NI43-101. Mark Robinson is a Certified Professional
Geologist (CPG) 6414 with the American Institute of Professional
Geologists (AIPG). Other professional societies and certifications
include: Society of Economic Geologists (SEG) fellow since 1985;
American Geological Institute (AGI); and Alaska Miner's Association
(AMA). Mark Robinson is a Qualified Person as defined in NI 43-101
and also qualifies under the rules stated by the U.S. Securities
and Exchange Commission ("SEC"), and has verified the data
contained in this news release for accuracy.
ABOUT TERYL RESOURCES
To date, a total of US$9,000,000 has been expended by the joint
venture partners, with Teryl and Kinross accounting for 20% and
80%, respectively, of total expenditures.
With interests in four gold properties, Teryl Resources Corp. is
one of the main landowners in the Fairbanks Mining District,
Alaska. The Gil project is a joint venture with Kinross Gold
Corporation (TSX: K; NYSE: KGC) (80% Kinross/20% Teryl). To date
USD $9 million has been expended on exploration by Kinross and
Teryl on the Gil joint venture claims. A USD$1.5 million budget has
been approved for 2010. The Company's other Alaska holdings also
include the Fish Creek Claims, 50% optioned from Linux Gold Corp.
(OTC BB: LNXGF); the Stepovich Claims, where Teryl has a 10% net
profit interest from Kinross; and a 100%-interest in the West Ridge
property. For further information visit the Company's website at
http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson President
READER ADVISORY
This news release may contain certain forward-looking
statements, including management's assessment of future plans and
operations, and capital expenditures and the timing thereof, that
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control. There can be no
assurance that such statements will prove accurate, and actual
results and developments are likely to differ, in some case
materially, from those expressed or implied by the forward-looking
statements contained in this press release. Readers of this press
release are cautioned not to place undue reliance on any such
forward-looking statements.
Forward-looking statements contained in this press release are
based on a number of assumptions that may prove to be incorrect,
including, but not limited to: timely implementation of anticipated
drilling and exploration programs; the successful completion of new
development projects, planned expansions or other projects within
the timelines anticipated; the accuracy of reserve and resource
estimates, if any, grades, mine life and cash cost estimates;
whether mineral resources can be developed; title to mineral
properties; financing requirements; changes in laws, rules and
regulations applicable to Teryl, and changes in how they are
interpreted and enforced, delays resulting from or inability to
obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources, the impact
of general economic conditions in Canada, and the United States,
industry conditions, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
foreign exchange, stock market volatility and market valuations of
companies with respect to announced transactions. The Company's
actual results, performance or achievements could differ materially
from those expressed in, or implied by, these forward-looking
statements, including those described in the Company's Financial
Statements, Management Discussion and Analysis and Material Change
Reports filed with the Canadian Securities Administrators and
available at www.sedar.com, and the Company's 20-F annual report
filed with the United States Securities and Exchange Commission at
www.sec.gov. Accordingly, no assurances can be given that any of
the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits,
including the amount of proceeds, that the Company will derive
therefrom.
Readers are cautioned that the foregoing list of factors is not
exhaustive. All subsequent forward-looking statements, whether
written or oral, attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these
cautionary statements. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news
release and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities of the Company have not been registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither 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: Teryl Resources Corp. John Robertson President
604-278-5996 or Toll Free: 800-665-4616 604-278-3409 (FAX)
www.terylresources.com
Tisdale Resources (TSXV:TRC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Tisdale Resources (TSXV:TRC)
Historical Stock Chart
From Jul 2023 to Jul 2024