Teras: Recent Results....as of 2/16/2012
Teras drills 62.5 m of 1.07 g/t Au at Cahuilla
2012-02-16 09:20 ET - News Release
Mr. Peter Leger reports
TERAS CONTINUES TO EXPAND GOLD AND SILVER MINERALIZATION AT IT'S CAHUILLA PROJECT
Teras Resources Inc. has received additional assay results from its reverse circulation drill program at the Cahuilla gold-silver project in Imperial county, California. The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple high grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project refer to the NI 43-101 technical report entitled "Cahuilla Property 43-101 Technical Report," dated October 25, 2007 prepared by Todd Wakefield, MAusIMM of AMEC E&C Services filed on Sedar on November 15, 2007.
To date, a total of forty of the one hundred planned holes have been completed. The majority of drilling completed during this campaign was conducted along the southeast margin of the main body of known gold mineralization for the purpose of expanding historic gold and silver mineralized zones by defining the high grade veins as well as enhancing the disseminated mineralization. Assaying of the reverse circulation samples was conducted by Inspectorate Laboratory in Reno, Nevada. Drill samples were collected by Mr. Paul Stubble (project geologist), split on site, placed in sample bags and delivered to Inspectorate Laboratory in Reno, Nevada for analysis. In addition, blanks and certified standards have been inserted into the sample stream at random intervals for quality control purposes.
The Company is pleased with the following results as they continue to increase and develop the known gold and silver mineralized zones.
Hole # Thickness - m Gold - g/t From To TD (ft) (oz/ton)CAH-148 33.5 73.2 208.8 39.7 (130) 0.45 (0.013) 147.8 150.9 3.1 (10) 5.17 (0.151)Including 147.8 149.3 1.5 (5) 9.76 (0.285) 161.5 170.7 9.2 (30) 1.23 (0.036)CAH-149 35.1 45.7 182.9 10.6 (35) 0.48 (0.013) 56.4 76.2 19.8 (65) 0.44 (0.013) 96.0 158.5 62.5 (205) 1.07 (0.031) 164.6 181.4 16.8 (55) 0.58 (0.017)CAH-150 29.0 93.0 182.9 64.0 (210) 0.58 (0.017) 112.7 115.8 3.1 (10) 1.78 (0.052) 143.2 146.3 3.1 (10) 3.80 (0.111)CAH-151 25.9 48.8 182.9 22.9 (55) 0.82 (0.024) 70.1 77.7 7.6 (25) 1.10 (0.032) 161.5 164.6 3.1 (10) 1.20 (0.035)CAH-152 15.2 94.5 179.8 47.3 (155) 0.99 (0.029)Including 74.7 79.3 4.6 (15) 5.96 (0.174)Including 76.2 77.7 1.5 (5) 12.47 (0.364) 120.4 135.6 15.2 (50) 0.96 (0.028)CAH-153 16.8 32.0 170.7 15.2 (50) 0.051 (0.015) 57.9 105.2 47.3 (155) 0.75 (0.022) 167.6 170.7 3.1 (10) 0.72 (0.021)CAH-154 53.3 70.1 176.8 16.8 (45) 0.51 (0.015) 82.3 91.4 9.1 (30) 1.30 (0.038) 115.8 121.9 6.1 (20) 1.10 (0.032) 163.0 164.5 1.5 (5) 1.68 (0.049)CAH-155 42.7 114.3 182.9 71.6 (235) 0.58 (0.017) 138.7 143.3 4.6 (15) 1.06 (0.031)
Currently, drilling is being conducted approximately 600 meters west of the main mineralized zone in an area where historic drilling encountered significant gold intercepts along the Modoc Fault about 120 meters east of High Grade Hill. Drilling is also occurring in the vicinity of CAH-139 and CAH-142 where very high grade gold and silver mineralization was encountered by Teras as reported in the December 5, 2011 and February 1, 2012 press releases.
The Company would also like to report that management is consulting with several engineering companies in order to prepare a new NI 43-101 technical report which will focus on the completion of compliant gold/silver resource estimation. The short term focus of the Company is to complete the current one hundred hole drill program in conjunction with an industry standard compliant resource report that will be issued in a press release when finished.
Dale Vitone P. Eng., 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.