Teras Schedules Core Drilling Program at Cahuilla Based on New Geologic Information
14 Januar 2014 - 2:30PM
Access Wire
Teras Resources Inc.
("Teras"
or the "Company") (TRA.V
- News):
is pleased to announce that development drilling will commence in
February 2014 at the Cahuilla gold-silver project in Imperial
County, California. As reported in the December 2013 press release,
the new technical information obtained from the four deep core
holes completed in the recent drill program has proven to be
invaluable with respect to understanding the geology of the higher
grade gold-silver veins.
As a result, this data is
currently being used in the detailed planning of core holes that
are scheduled to be drilled beginning in February. Teras' primary
objective for 2014 is to increase the grade of the precious metal
resource via delineation of high grade precious metal
mineralization, thus enhancing the total in ground gold and silver
ounces within the existing NI 43-101 resource.
Detailed geology that has
recently been garnered from core logging indicates that the higher
grade gold/silver veins are dominantly sub-vertical. The specific
geometry of the high grade veins was not well understood in the
past because the existing geologic model was interpreted from
reverse circulation drill chip logs obtained from a majority of
vertical drill holes. The new deep core holes clearly illustrate
the sub-vertical nature of the veins as shown in the photos
below:

Click Image To View Full Size
In addition, detailed
analyses of the assay results reveal specific linear trends of high
grade precious metal mineralization that follow a distinct
west-northwest direction. These linear high grade zones are
illustrated on the following map that was received in late December
2013, along with the geophysical resistivity showing hard or
silicified rocks in blue and white which are commonly
mineralized:

Click Image To View Full Size
This new information, along
with the knowledge of sub-vertical high grade vein control, is of
extreme importance in positioning the next round of core holes,
which is currently in progress. These new high priority targets
will be tested by angled core holes drilled along fences to define
continuity of sub-vertical high grade gold/silver zones. Mr. Peter
Leger, President and CEO of Teras Resources, commented "This new
data has significantly advanced our understanding of the higher
grade gold-silver veins, which we believe will lead to enhancing
the grade and expanding the size of the current NI 43-101 precious
metal resources at Cahuilla."
Dale A Vitone P. Eng., registered
with the Association of Professional Engineers of Ontario, Alberta
and North West Territories and a Director for 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.
For further
project and corporate information, contact:
Teras Resources Inc.
Peter Leger, President
(403) 262-8411
(403) 852-0644
Email: pleger@teras.ca
Website: http://www.teras.ca/
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
reverse circulation drill program. 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 and future costs and expenses being
based on historical costs and expenses, adjusted for inflation.
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.
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