TRA Teras Resources Inc

Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA)(OTCQX:TRARF):
Teras is pleased to report that the Company is very encouraged by the continued
excellent progress of its reverse circulation and diamond drill program at the
Cahuilla project in Imperial County, California. The first deep hole, CAH-303,
has been completed to a depth of 536m (1757') and has intersected a deeper zone
of strongly altered and veined rock from 390m (1280') to 427m (1,400'), which is
far beneath the near surface disseminated and high grade vein precious metal
mineralization. In addition, the diamond drill continues to perform
exceptionally well achieving impressive footage rates and core recoveries of
nearly 100%.


CAH-303 intersected strongly silicified and veined fanglomerate from 0 to 213m
(0 - 700') as describe in the September 17, 2013 press release. The fanglomerate
then becomes variably altered below 213m with the intensity of alteration
decreasing to 337m (1,105). At 337m, a very fine grained gray to black claystone
was intersected to a depth of 390m (1,280'). At that point, the drillers
notified the site geologist that the diamond drill had encountered very hard
rock and the drill rate had decreased significantly. It was then discovered that
a very strongly silicified and brecciated fanglomerate hosting various episodes
of quartz veining was encountered as shown in the photograph linked here:
http://media3.marketwire.com/docs/900152I.jpg.


This new discovery is very encouraging because strongly altered rock
characterizing the Cahuilla epithermal system has never been encountered at
these depths suggesting the hydrothermal system may be far more extensive than
previously known. Finally, the drill passed through the fanglomerate at 427m
(1,400') and intersected quartz monzonite which is variably altered and veined
near the contact, then becomes increasingly unaltered prompting the hole to be
terminated at 536m (1757'). The core is currently being geologically logged and
photographed by Mr. Paul Stubble, Project Geologist and Manager, and will be
split in half by a rock saw and one half will be analyzed for gold and silver by
Inspectorate Laboratories in Reno, Nevada.


The core drill has been moved approximately 152m (500') to the northeast of
CAH-303, which was pre-collared and cased to 189m (620') in proximity to the
original Cahuilla discovery hole, TM-28, that was drilled in 1992. The reverse
circulation drill has been mobilized approximately 91m (300') to the east of
CAH-303 and is pre-collaring the third deep drill hole, CAH-305, which is
located nearby CAH-142 where high grade gold and exceptional silver values were
encountered by Teras in December of 2011. 


Peter Leger, President and CEO of Teras Resources, remarked, "We are especially
pleased with the discovery of the deeper, strongly silicified and veined
fanglomerate far below the depths of any previous drilling. This significantly
increases our confidence that the epithermal system continues at depth and deep
high grade feeder zones may very likely occur at Cahuilla. The Company is
looking forward to receiving assay results from CAH-303 once the core has been
properly logged and prepared for analysis." 


Dale A Vitone P. Eng., registered with the Association of Professional Engineers
of Ontario, Alberta and Northwest Territories and a Director of Teras, is the
Company's nominated qualified person responsible for monitoring the supervision
and quality control of the programs completed on the Company's properties. Mr.
Vitone has reviewed and verified the technical information contained in this
news release. 


About Teras

The Company is focused on developing its Cahuilla project located in Imperial
County, California. The project encompasses an area of at least 3 km by 1.5 km
and demonstrates the potential for a large-scale, bulk mining operation
consisting of altered and mineralized sedimentary and volcanic host rocks with
numerous sheeted high-grade quartz veins. Teras filed a NI 43-101 compliant
technical report with an indicated resource of 1.2 million plus ounces of gold
and 11 million plus ounces of silver on its Cahuilla project (70.148 million
tons at an average grade of 0.015 ounces per ton gold and 0.17 ounces per ton
silver with a cut-off of 0.008 ounces per ton gold). The Company has an
aggressive plan to increase the grade and tonnage of the resource and develop
the project for future mining operations.


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 of accuracy of this news release.


This press release may contain "forward-looking information" within the meaning
of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein may be forward-looking
information. Generally, forward-looking information may be identified by the use
of forward-looking terminology such as "plans", " expects" or "does not expect",
"proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases, or by the use of words or phrases which state that
certain actions, events or results may, could, would, or might occur or be
achieved. In particular, this press release contains forward-looking information
regarding: the potential of the Cahuilla Project; the potential of geophysical
programs on the Cahuilla Project; the potential to expand the resource, to
identify new targets and to identify high grade zones and structures; the timing
of and potential of drilling and exploration programs, surveys, studies and
developments; and the potential for finding high grade deposits. This
forward-looking information reflects the Company's current beliefs and is based
on information currently available to the Company and on assumptions the Company
believes are reasonable.


These assumptions include, but are not limited to, the actual results of
exploration projects being equivalent to or better than estimated results in
technical reports or prior exploration results; future costs and expenses being
based on historical costs and expenses, adjusted for inflation; continued
success in drilling and exploration programs and geological and geophysical
studies at the Cahuilla project; successful studies in mining techniques and
metallurgy; commodity prices continuing at today's prices or rising; obtaining
the necessary funding to carry out recommended work programs, exploration and
studies; and continued success in obtaining permits. Additional assumptions can
be found in the Company's disclosure documents on the SEDAR website.
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information. Such risks and other
factors may include, but are not limited to: the early stage development of the
Company and its projects; general business, economic, competitive, political and
social uncertainties; commodity prices; the actual results of current
exploration and development or operational activities; competition; changes in
project parameters as plans continue to be refined; accidents and other risks
inherent in the mining industry; lack of insurance; delay or failure to receive
board or regulatory approvals; changes in legislation, including environmental
legislation, affecting the Company; timing and availability of external
financing on acceptable terms; conclusions of economic evaluations; and lack of
qualified, skilled labour or loss of key individuals. Although the Company has
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking information, there may
be other factors that cause results not to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Teras Resources Inc.
Peter Leger
President
(403) 262-8411 or (403) 852-0644
pleger@teras.ca
www.teras.ca

Teras Resources (TSXV:TRA)
過去 株価チャート
から 5 2024 まで 6 2024

Teras Resources (TSXV:TRA)
過去 株価チャート
から 6 2023 まで 6 2024