Main landowner in Fiarbank Alaska.Teryl Resources Corp. Announces Drilling Has Commenced on Gil Joint Venture
Sep 18, 2006 9:00:00 AM
Copyright Business Wire 2006
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 18, 2006--Teryl Resources Corp. (TSX VENTURE:TRC) (PINK SHEETS:TRYLF) is pleased to announce that Kinross Gold has notified the Company that the necessary permits have been approved, and that drilling has commenced on the new gold target on the Gil joint venture. The initial drill program will consist of three drill holes, and approximately 2000 feet of drilling, with a potential for additional drilling pending the results of the first phase.
The new gold target was located by integrating geologic and geochemical information with the recent geophysical data (see news release dated January 26, 2006). Drilling initially is planned to test the most favorable geophysical target on the Gil joint venture.
ABOUT TERYL RESOURCES CORP.
Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX VENTURE:K) (NYSE:KGC). The Company's holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTCBB:LNXGF), and the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross. The Company also has a 100%-interest in the West Ridge property.
Teryl Resources Corp. has an option agreement on seven patented claim blocks, consisting of 248 acres, in the Warren Mining District, Cochise County, Arizona. The seven patented claim blocks are called the Gold Hill prospect, which includes the Old Gold Hill, Superior, and Baston mines. The Gold Hill copper, gold, and silver property is four miles west of the Copper Queen/Lavender Pit mine, one of the richest copper mines in history, owned by Phelps Dodge Corporation, which has produced 75 million tons of ore from 1954 to 1970.
Teryl Resources Corp. also has one joint venture silver prospect located in Northern BC, Canada.
Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky, and will continue to drill additional gas wells in Kentucky. For further information visit the Company's website at https://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson
President