TRA Teras Resources Inc

Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA)(OTCQX:TRARF):
Teras is pleased to report that the Company continues to be very encouraged by
the excellent progress of its reverse circulation and deep diamond core drill
program at the Cahuilla project in Imperial County, California. We eagerly await
the assay results which are anticipated to become available within approximately
the next two weeks and will issue a news release announcing the results at such
time.


The following map shows the locations of the new September 2013 drill holes
within the Cahuilla project area in relation to the location of the existing NI
43-101 compliant resource and northeast target area. It is imperative to note
that only a small portion of the mineralized epithermal system has been
adequately tested to the northeast, west-southwest, south and at depth.
Nevertheless, significant gold/silver mineralization has been encountered on the
surface and in drill holes throughout the entire project area far beyond the
known resource. 


To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/tra1009-F1.pdf.


CORE DRILLING HIGHLIGHTS

The first deep core hole, CAH-303, was completed on September 21 to a depth of
536m (1,757') as disclosed in the news announcement on September 24, 2013. The
second deep hole, CAH-304, was drilled to a depth of 400m (1,310') upon
completion of the first drill shift. The core drill is currently in altered and
veined quartz monzonite and the degree of silicification appears to be
increasing as the hole becomes deeper. Both the core and reverse drills are
scheduled to resume tomorrow.


As indicated in last week's news release, CAH-304 intersected intensely
silicified, brecciated and veined fanglomerate for 201m (660') from 61.0 to 262m
(200 - 860'). The drill then encountered variably altered quartz monzonite to a
depth of 400m (1,310') where the core has begun showing an increase in the
intensity of silicification at depth. CAH-304 is scheduled to be drilled to
depths of possibly 610m (2,000') or more if the alteration and veining persist.
CAH-305 was pre-collared and cased to 286m (940') and core drilling will be
initiated upon completion of CAH-304. 


As shown on the map above, the three core holes, CAH-303, CAH-304 and CAH-305
form a triangle near the center of the resource. The purpose of these three deep
holes is to test the pronounced geophysical anomaly at depth, which could
potentially extend gold/silver mineralization below the existing NI 43-101
resource. More importantly, the deep holes are focused on satisfying our primary
objective, which involves the discovery of deeper high grade feeder zones that
represent the pathways or source of the shallower mineralization. 


The depth of the new deep core holes in comparison with the NI 43-101 compliant
resource is shown on the cross sectional illustration below:


To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/tra1009-F2.pdf.


The deeper holes on this section indicate the relative degree of alteration that
was encountered, which suggests that the hydrothermal system is much more
intense and widespread than previously recognized. This is demonstrated by both
the expansion of intense alteration directly below the existing resource and the
much deeper zone of silicified, brecciated and veined fanglomerate in CAH-303
that was encountered from 390m (1,280') to 427m (1,400'). CAH-304 has
intersected increasingly silicified rock at the current depth of the hole and
thus, diamond core drilling will continue to further delineate this deeper
alteration zone. 


The existence of hydrothermal alteration at these depths is quite encouraging
because exploration drilling has never tested rocks below the 300m (980') level.
This new information clearly implies the epithermal system is far larger than
previously known from geologic and drill data collected over the past 28 years
since Cahuilla was discovered by Fischer-Watt Gold Company in 1985. 


As well as the widespread precious metal mineralization, numerous high priority
geophysical targets have been delineated both within and far outside of the
drill permitted area. As a result, the Company strongly feels that the current
NI 43-101 resource only represents a small fraction of the actual quantity of
gold and silver that is potentially present in the ground at Cahuilla.


REVERSE DRILLING HIGHLIGHTS

The reverse circulation rig will resume drilling tomorrow in the northeast
target area as indicated by the orange triangles shown on the Cahuilla 2013
drill progress map above with the objective of expanding the near surface
disseminated and high grade vein precious metal resource as stated in our
current NI 43-101 report. CAH-306 was drilled at an angle due north and has been
completed to a depth of 670'. The northeast reverse circulation drill holes have
been planned in the area where the Company received very positive surface
geochemical sample assays as reported in the February 19, 2013 press release.


Core and reverse circulation samples have been delivered to Inspectorate
America, Reno, Nevada and sawing of the core is in progress. Chip samples from
the reverse circulation drilling are being collected by Mr. Paul Stubbe, Project
Geologist and Manager, split on site, placed in sample bags and stored in a
secure facility before delivery to Reno, Nevada. The Company also collects
separate splits of each reverse circulation sample at the drill which are
retained for future cross-check assays. Core samples from the diamond drilling
are collected on site, placed in boxes, photographed, split in half by a rock
saw and one half is analyzed by Inspectorate. Sample blanks and certified
standards are inserted into the sample stream at random intervals for quality
control purposes. 


Peter Leger, President and CEO of Teras Resources, commented, "We are very
pleased regarding the new and exciting geologic data that is being generated
from the deeper core holes, which is especially positive for our current and
future expansion/development programs. The Company and technical team feel very
confident that our chances of discovering the roots or source of our large, high
grade vein and shallow disseminated resource have drastically improved. We look
forward to the continuance of our program with greater assurance that the
Cahuilla epithermal system will ultimately develop into a larger mining
operation than initially anticipated." 


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