NewsTerraco Reports Middlegate Surface Sampling Results of up to 9.2 gpt Gold and 100 gpt Silver
VANCOUVER, BRITISH COLUMBIA, Dec 5, 2007 (Marketwire via COMTEX News Network) --
Terraco Gold Corp. ("Terraco") (TSX VENTURE:TEN) is pleased to report results from the initial rock sampling on the Middlegate Property (please refer to NR 2007-10 dated November 30, 2007 outlining the terms of the property acquisition). Gold assay results as high as 9.2 grams per tonne ("gpt") (0.296 troy ounces per ton ("opt")) and silver assay results as high as 100 gpt (3.215 opt) were returned.
The initial sampling program included the collection of more than 100 rock samples (chip and channel up to 12 feet) from the existing, small open pit, as well as from surface outcrops, prospects and dumps within the recently expanded property position of more than 1,950 acres (800 hectares), or nearly 3 square miles.
The samples confirmed geochemically anomalous to high-grade gold, silver and base metal values, including mercury. Elevated mercury values, to a high of 3,000 parts per billion, are characteristic of high-level precious metal systems and can be a good gold pathfinder.
Samples were taken throughout the property. Of samples taken from the main pit on the property, results ranged from trace values to highs of 9.2 gpt (0.296 opt) gold and 38.5 gpt (1.238 opt) silver. Samples taken nearly 1,000 feet east of the main pit, along strike of the same fault/breccia zone, returned values of up to 5 gpt (0.161 opt) gold and up to 39.7 gpt (1.276 opt) silver. Outcrop samples taken more than 1,200 feet from the main pit assayed as high as 100 gpt (3.215 opt) silver. In addition, results of up to 6.44 gpt (0.207 opt) gold were obtained from samples more than 3,000 feet from the main pit. These samples were taken at a prospect along a different structural zone in brecciated sinter.
Todd Hilditch, President of Terraco, stated, "The results obtained from this initial sampling program have confirmed our preliminary assessment of the potential of the Middlegate Property. Based on these results, a systematic, detailed exploration program will be designed by Terraco in early 2008. It will include additional rock sampling; detailed mapping; soil sampling; geophysics and drilling."
The Middlegate Property is located in Churchill County, Nevada, approximately 5 miles southwest of the town of Middlegate. This region is known for historic mining success, including notable districts such as Fairview, Rawhide and Paradise Peak. Based upon initial observations, Middlegate alteration and mineralization commences at a very high level, at or near paleo-surface. Targets at the Middlegate Property include volcanic-hosted, epithermal stockwork, breccia, and/or vein gold-silver deposits.
Ken Snyder, P. Geo. and Charles Sulfrian, P. Geo. and Vice President, Exploration, conducted and personally submitted the initial sampling to the independent laboratories of ALS Chemex, Elko, and American Assay Laboratories, Sparks, NV, for precious metals and geochemical analyses. Gold analyses were by fire assay with either atomic absorption (AA) or gravimetric finish. Silver analyses were either by multi-acid digestion Mass Spectroscopy (MS), Inductively Coupled Plasma (ICP) and/or fire assay with gravimetric finish. Geochemical analyses were via multi-acid digestion Inductively Coupled Plasma-Mass Spectroscopy (ICP-MS).
This release has been reviewed and approved by Charles Sulfrian, P.Geo., Vice President, Exploration of Terraco, who is considered a 'qualified person', as defined by 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.
ON BEHALF OF THE BOARD
Todd Hilditch, President and CEO
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.
SOURCE: Terraco Gold Corp.
Terraco Gold Corp. Todd Hilditch President and CEO (604) 443-3830 or Toll Free: 1-877-792-6688 (604) 682-3860 (FAX) Email: info@terracogold.com Website: www.terracogold.com
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