Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) is pleased
to announce the interim technical report for the Gil joint venture
gold property has been prepared by Mark S. Robinson, Certified
Professional Geologist. The final report will be completed in early
2011 and will include a 3D model. Please see the attached link
http://www.terylresources.com/pdf/markfinalreport.pdf for an
interim report.
Interpretation and conclusion as follows:
The Gil/JV project is located in the northern Fairbanks mining
district in an area that is road-accessible, located on State owned
lands with good access to power. The ore bodies within the project
area are contained in the Cleary Sequence, a subunit of the
Fairbanks Schist unit. The Cleary Sequence and Fairbanks Schist
unit hosts commercially viable mineralization elsewhere in the
Fairbanks Mining District. Rocks of the Cleary Sequence and
Fairbanks Schist unit are present in the headwaters of many of the
streams that have been mined for placer gold in the past.
The project is hosted in poly-deformed Paleozoic metamorphic
rocks intruded by mid-Cretaceous intrusive rocks that are
genetically associated with gold mineralization. Favorable host
rocks at Gil are predominantly calc-silicate rocks although gold
mineralization can be found in quartz-mica schist, felsic schist or
the calcareous biotite-chlorite-quartz schist. Gold is hosted in
quartz-rich veins and replacement zones and is associated with
anomalous arsenic and bismuth.
Exploration conducted in the 1990's identified widespread
structurally-controlled gold mineralization at the Main Gil and
North Gold prospects. Extensive drilling, sampling, and trenching
in between 1992 and 2004 defined the extent of gold mineralization
in these areas and also developed several other exploration
targets. The Gil prospect's lode deposits, principally the Main,
North Gil, and Sourdough Ridge Zones, have been partially tested by
92 core holes totaling 36,084 feet, 364 reverse circulation drill
holes, totaling 110,844 feet, and 21 trenches with a combined
length of over 7,420 feet.
As known at the date of this news release, the majority of the
Gil's total gold resource is contained in the Main Gil deposit.
This northeast striking, steeply north dipping calc-silicate unit
remains open at depth and along strike. The east-west striking,
north dipping North Gil resource area is hosted primarily in quartz
veins in quartz-mica schist, felsic schist or the calcareous
biotite-chlorite-quartz schist. A significant gold anomaly has been
outlined between the Main Gil and North Gil deposits and at the
intersection zone where the Main Gil and North Gil trends cross.
Drilling in all of these areas has yielded positive results.
Significant exploration results have also been generated on the
Sourdough Ridge prospect. Soil sampling, ground-based magnetometer
surveys, and drilling have yielded significant results and the new
data suggests that these anomalies are due to a series of northeast
trending, steeply dipping quartz veins that coalesce into ore zones
that may be potentially mineable.
Several other exploration targets have been identified but have
not been fully tested. These targets include gold anomalies located
along All Gold Ridge, a calc-silicate layer identified north of the
North Gil Zone, gold-bismuth-bearing quartz veins on the western
Gil project and a gold anomaly outlined to the south of the Main
Gil Zone. Additional exploration work will be needed in these areas
to determine their potential.
Canadian National Instrument 43-101 compliant resources and/or
reserves currently are being calculated by Kinross Gold but are not
available for this news release.
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 NI 43-101. 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 Miners 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