Terraco Begins Geophysical Survey at Moonlight Project (Nevada)
June 02 2011 - 6:00AM
Marketwired
Terraco Gold Corp. (TSX VENTURE: TEN) ("Terraco" or the "Company")
is pleased to announce that it has initiated a ground geophysics
program at its Moonlight property ("Moonlight"), located in
Pershing County, Nevada. In addition, Terraco reports that drilling
continues with two core drill rigs at its Almaden property
("Almaden"), located in Washington County, Idaho.
Moonlight Geophysics
Terraco has initiated a controlled-source, audio-frequency
magnetotellurics - controlled-source induced polarization
("CSAMT-CSIP") geophysical survey at Moonlight. When complete, the
CSAMT-CSIP program will augment existing magnetic surveys and
recent geologic mapping (currently being interpreted) to better
delineate drill targets at Moonlight. Terraco expects to begin the
drill program at Moonlight this summer.
Controlled-source audio-frequency magnetotellurics ("CSAMT") is
a commonly used surface-based geophysical method which provides
resistivity information of the subsurface. This low-impact,
non-intrusive technique has been used extensively by the minerals,
geothermal, hydrocarbon and groundwater exploration industries
since 1978 when CSAMT equipment systems first became available
commercially.
The CSAMT method involves transmitting a controlled signal at a
suite of frequencies into the ground from one location (transmitter
site) and measuring the received electric and magnetic fields in
the area of interest (receiver site). Calculated resistivity values
from CSAMT data relate to geology. Primary factors affecting
resistivity include rock or sediment porosity, pore fluids and the
presence of certain mineral assemblages. Anomalously high and
anomalously low resistivity values measured in a given search area
may be associated with silicification and argillization,
respectively.
Controlled-source induced potential ("CSIP") is an effective
method for collecting Induced Polarization ("IP") data. The CSIP
method utilizes the same transmitter from the CSAMT survey. IP or
induced potential measures the ability of materials in the ground
to polarize at interfaces. There are relatively few subsurface
conditions that create an IP response. Metallic mineralization,
particularly disseminated sulfides, causes increased IP values.
Anomalously high IP responses from CSIP can indicate the presence
of sulfides at depth that may be associated with precious metals
mineralization.
At Moonlight, as at neighbouring projects including Coeur
d'Alene Rochester Mine and the Barrick Gold / Midway Gold Spring
Valley joint venture, structures such as the Black Ridge Fault Zone
and other district and local area faults, exert significant
influence or control on precious metals mineralization. The
CSAMT-CSIP survey and detailed mapping will help Terraco in
identifying such structures and faults.
The geophysical survey is being carried out by Zonge
International of Tucson, Arizona. Geophysical survey description
from Zonge's website.
Almaden Update
Terraco's Phase I core drill program utilizing two core drill
rigs at Almaden is progressing. The program was designed to confirm
continuity of gold mineralization within 300 feet of surface and to
begin the search for high-grade, bonanza-style,
structurally-controlled gold mineralization at depth.
Terraco is currently on its fourth drill hole. Both drill rigs
have drilled core to depths up to 600 feet deeper than previous
operators at Almaden, including the first hole terminating at 1,411
feet. The first two core holes have been submitted to ALS Chemex of
Reno, Nevada, for gold determinations by fire assay. Assay results
for the first two holes are expected within two to three weeks.
Core drilling will aid in further understanding local faulting
and alteration and how these important factors may have impacted
potential precious metals mineralization in the Almaden area, where
mineralization is open to the north and to the south. Almaden
currently hosts a National Instrument 43-101, Standards of
Disclosure for Mineral Projects ("NI 43-101"), compliant measured
resource of 239,000 ounces of gold (10,810,000 tons grading 0.022
Troy ounce per ton ("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 cut-off grades of 0.008 opt, 0.012 opt and 0.023 opt for
the oxide, mixed and sulfide mineralization, respectively.
The technical information in this news release has been reviewed
and approved by Charles Sulfrian, C.P.G., Vice President,
Exploration, of Terraco and a 'qualified person', as defined in NI
43-101.
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.
Forward-Looking Statements
This news release contains forward-looking statements. Although
Terraco believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should
not be placed on them because Terraco can give no assurance that
they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Additional information on
these and other factors that could affect Terraco's operations and
financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com).
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Terraco Gold Corp. Todd Hilditch President (604)
639-3199 (604) 639-3197 (FAX) info@terracogold.com
www.terracogold.com
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