Terraco Gold Reports Final Drill Results at Its Almaden Project (Idaho)
Terraco's Successful 2011 Drill Program at the Almaden Project Leads to Planning for Exploration Advancement in 2012
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/18/12 -- Terraco Gold Corp. (TSX VENTURE: TEN) ("Terraco" or the "Company") is pleased to announce assay results from the last 6 core holes of the 2011 drill program completed at its Almaden Project in Washington County, Idaho. Core drilling at Almaden for these and other holes in the 2011 season continued to encounter significant gold mineralization from surface to 91 metres (300 feet), including drill holes in the main resource area that showed improvement over the average gold grade of the Almaden deposit. The 2012 exploration planning for advancement of the Almaden project is currently underway.
Todd Hilditch, President and CEO of Terraco, said: "These results and the previously announced results at Almaden are very encouraging. Terraco is on the right track in growing the gold resource and has shown in several holes an improvement in grade thickness of up to 28% compared to nearby historic drilling. Terraco is currently planning its 2012 exploration program and is excited to move the Almaden project forward."
Final Drill Results Include:
A drill table for these 6 holes can be found at the conclusion of this release.
2011 Drill Highlights and Program Summary
The 2011 exploration program was designed to accomplish 3 goals:
Terraco's core drilling, targeted at improving grade within the resource, has been largely successful. Gold values in most of the holes announced to date generally continue to show better gold mineralization than the current resource in the Main Zone (either higher grade or better mineralization as indicated by grade times thickness ("GT"). Holes TAL-751C, 754C and 763C noted above are good examples.
Deep drilling has found additional gold intercepts below and in close proximity to the resource. Drill hole TAL-753C intersected 7.6 m averaging 0.984 gpt gold from 112.8 m to 120.4 m (25 feet averaging 0.029 opt gold to 395 feet), which is within 30 m (98 ft) of the known deposit but not included in the resource calculation.
Core holes drilled at Stinking Water in 2011 included TAL-759C, 761C, and 762C. These holes revealed that gold mineralization there is contained predominantly in landslide material. Highlights of TAL-759C, 761C and 762C are given above.
"Expanding the known resource and increasing the grade of the resource will be 2 of Terraco's primary objectives in 2012. Through drilling, Terraco's geologists are gaining a better understanding of Almaden, including its structure, mineralization and genesis. Terraco plans to use this better understanding to gain its objectives," stated Todd Hilditch.
During the 2011 drilling season, Terraco drilled 16 HQ3 holes for a total of 5,492 m (18,020 feet). Several holes achieved depths of up to 610 m.
With the continued success of the program, Terraco is implementing a plan for an upgraded resource calculation and to understand the economics for possible development decisions.
Click below for a map of drilling to date which is also available at .
Almaden Gold Resource
The National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), compliant resource has an average grade of 0.02 opt (0.7 gpt) in the near surface flat-lying tabular resource. The majority of previous drilling was completed using conventional rotary (RAB) and reverse-circulation drilling. The NI 43-101 compliant resource is based on cut-off grades of 0.008 opt, 0.012 opt and 0.023 opt for the oxide, mixed and sulfide mineralization, respectively:
Assay results for the drill holes announced today are summarized in the table below.
Assay determinations for gold were made by 50 gram fire assay, using an AA finish. Analyses were performed by ALS Minerals USA, Inc. (Chemex) in Reno, Nevada.
Drilling during 2011 at Almaden was conducted by Marcus and Marcus Exploration in Coeur d'Alene, Idaho, and by Core One Drilling Inc. in Montrose, Colorado.
Terraco's exploration and drill program for Almaden was designed by Charles Sulfrian, CPG, Vice President, Exploration and Mr. Bill Snoddy, Almaden Project Manager. The technical information in this release has been reviewed and approved by Charles Sulfrian, CPG, Vice President, Exploration, of Terraco and a 'qualified person', as defined by NI 43-101, unless otherwise noted.
Terraco is a mineral exploration company, listed on the TSX Venture Exchange under the symbol "TEN". Please visit Terraco's website at for additional information.
Forward-Looking Statements
Certain of the statements made and information contained herein are "forward-looking statements" within the meaning of Canadian securities legislation or "forward-looking information" within the meaning of the Ontario Securities Act and the Alberta Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking statements and forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
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 or accuracy of this release.
Contacts:
Terraco Gold Corp.
Todd Hilditch
President and CEO
(604) 443-3831 or Toll Free: 1-877-792-6688, Ext. 2
(604) 682-3860 (FAX)
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Datum: 18.01.2012 - 14:00 Uhr
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