Terraco Announces Deployment of Third Core Rig to the Almaden (Nutmeg Mountain) Project in Idaho
Vancouver, BC , April 4, 2012 � (TSX.V: TEN | US: TCEGF). Terraco Gold Corp. ( �Terraco�) is pleased to announce that a third core drill rig has been deployed to its 100% owned Almaden (Nutmeg Mountain) gold project located in Washington County, Idaho. Terraco now has 3 core rigs drilling.
Terraco�s 2012 Phase I drill program consists of 2 rigs focused on infill and development core drilling, using Marcus & Marcus of Coeur d�Alene, Idaho, together with a third rig drilling large 4� diameter core holes, using National EWP of Elko, Nevada, for metallurgical test work.
�Terraco is drilling with 3 core rigs in an effort to provide, as quickly as possible, infill drill assay information necessary for the next step of evaluation. We are aggressively pushing towards the economic and geological studies required for a production decision.� stated Todd Hilditch, President and CEO of Terraco.
The Almaden (Nutmeg Mountain) Project
The advanced-stage project has excellent access, infrastructure and now includes over 66,140 metres (217,000 feet) of drilling in 903 drill holes. The project is host to a low-sulphidation, epithermal gold deposit drilled extensively from 1980 to 1992 by a number of companies including Homestake and Amax Gold.
The Almaden project is a flat-lying outcropping ore body that, within surface to approximately 300 feet, hosts a National Instrument 43-101 (�NI 43-101�) compliant measured resource of 239,000 ounces of gold (10,810,000 tons grading 0.022 ounces 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, respectively, for oxide, mixed and sulfide mineralization.
The technical information in this release has been reviewed and approved by Charles Sulfrian, C.P.G., Vice President, Exploration of Terraco and a �qualified person�, as defined by NI 43-101, unless otherwise noted.
To view this entire press release please visit: April 4th, 2012 Terraco Gold Press Release
Please always feel welcome to call at either of the numbers listed below.
Thank you as always for your time.
Matt
Please find the updated Terraco Gold Corporate Presentation contained in the link below: http://www.terracogold.com/i/pdf/Terraco_CorpPresentation.pdf
Please find the Terraco Gold Corporate Video with contained in the link below: Terraco Gold Corporate Video
Please visit our website at: http://www.terracogold.com/
|
|
|
About Terraco Gold
Terraco Gold Corp. (TSX.V: TEN | US: TCEGF), ("Terraco") project portfolio includes an advanced-stage gold project in Idaho, a Royalty Option on an evolving Nevada gold discovery and a neighbouring early-stage gold/silver project in Nevada, USA. The 100% owned Almaden Project is located 126 kilometres north of Boise, Idaho. The project hosts a National Instrument 43-101 compliant measured plus indicated and inferred resource of 948,000 ounces of gold within 90 m of surface. The advanced- stage Almaden project has excellent access with good infrastructure and includes over 66,000 m of drilling in 903 drill holes. Terraco has completed a drill program to explore the extension of the near surface mineralization that is open to the north and south, as well as test for high-grade, bonanza-style structurally controlled gold mineralization at depth. Project comparisons for Almaden are The Ken Snyder "Midas Mine" (Newmont) and the Hollister Mine (Great Basin Gold) located in northeast Nevada.
Terraco has the option to acquire a 2.5% net smelter royalty ("NSR royalty") on The Spring Valley Gold Project ("Spring Valley"), located in Pershing County, Nevada. Spring Valley is a joint venture between Barrick Gold Corp. ("Barrick") and Midway Gold Corp., where Barrick has the right to earn 60% interest in the project by completing work expenditures totalling US $30 million before December 31, 2013. Terraco's 100%-owned Moonlight Project, which currently encompasses over 5,000 acres, is located along trend and adjoins the north side of Spring Valley.
The 100% owned Moonlight Project is located 380 kilometres northeast of Reno, Nevada and approximately 8 kilometres north of the Coeur d'Alene Rochester silver-gold mine. The Rochester Mine has produced over 125 million ounces of silver and 1.2 million ounces of gold in its 25 year history and has recently returned to production.
Terraco's exploration is conducted by Charles Sulfrian , CPG (Vice President, Exploration) and Ken Snyder , PhD (Lead Consulting Geologist). Both Mr. Sulfrian and Dr. Snyder were instrumental in the discovery of major Nevada gold mines including Barrick's Goldstrike Mine and Newmont's Ken Snyder Midas Mine respectively.
Matt W. Johnston 960-1055 West Hastings St. Vancouver, BC Canada V6E 2E9 Tel: 604.443.3835 Toll Free: 1.877.792.6688 Ext: 4 TSX.V: TEN | US: TCEGF www.terracogold.com
|
|