Teryl's Gil at 8.0 mt of 178,009.2 oz/t Au I Teryl's Gil at 8.0 mt of 178,009.2 oz/t Au I
Teryl Resources Corp(C:TRC)
Shares Issued 72,103,605
Last Close3/4/2011
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Monday March 07 2011 - News Release
Mr. John Robertson reports
TERYL RESOURCES RECEIVES A NI 43-101 COMPLIANT GIL RESOURCES PRE-FEASIBILTY RESOURCE ESTIMATION REPORT
TerylResources Corp. has received a prefeasibility resource estimation forthe Gil joint venture property in the Fairbanks, mining district,Alaska.
Total gold resources at the Gil/JV property for a heap leach scenarioare 514,916 ounces of gold contained in 19,856,778 tons of mineralizedrock. A cutoff grade for a hypothetical heap leaching operation at theGil/JV property is expected to be 0.015 oz/ton, which corresponds to theheap leach cutoff grade currently being used at the Fort Knox goldmine. A grade cutoff for material that could be sent to the mill at FortKnox is 0.0225 oz/ton. Total gold resources at the Gil/JV property for arun-of-mill scenario are 309,304 ounces of gold contained in 8,505,247tons of mineralized rock. It is important to note that these twoestimates are not additive, and instead represent two distinct resourcecalculations for Gil at two separate cutoff grades. The details of theresource data are contained in the following tables.
Au-Extraction Method Class (Resource) Cutoff (oz/ton) Avg. Au-grade Above Cutoff Tons Ounces GOLD
Heap Leach Measured 0.015 0.0304 2,283,057.1 69,499.1
Heap Leach Indicated 0.015 0.0279 9,571,130.0 267,408.0
Heap Leach Inferred 0.015 0.0222 8,002,591.0 178,009.2
TOTAL 19,856,778.0 514,916.3
Au-Extraction Method Class (Resource) Cutoff (oz/ton) Avg. Au-grade Above Cutoff Tons Ounces GOLD
Run-of-Mill Measured 0.0225 0.0394 1,307,343.7 51,483.2
Run-of-Mill Indicated 0.0225 0.0382 4,652,938.9 177,870.9
Run-of-Mill Inferred 0.0225 0.0314 2,544,964.3 79,949.8
TOTAL 8,505,246.9 309,303.9
The geostatistical analyses and Vulcan operations conducted during thisassessment were carried out by William J.P. Robinson (M.Eng Student inMining Geological Engineering, Colorado School of Mines). The methodsused and assumptions made during this resource estimation were reviewedby the Qualified Person, Mark S. Robinson (Certified ProfessionalGeologist #6414) and are NI43-101 compliant.
The resources contained at the Gil/JV gold property still showsignificant potential for definition and expansion in the North Gil, GilIntersection and Sourdough Ridge zones. Improved drilling definition inthese areas would not only increase the total resources present at Gilbut would also facilitate expanding the resources designated as measuredand indicated. Further exploration drilling should be conducted in thewestern region of North Gil, in order to tighten the drill hole spacingand better define the extent of mineralization. The Gil Intersectionzone should be more thoroughly drilled and considered as a potentialcontinuation between the Main Gil and North Gil mineralized zones.Drilling at Sourdough Ridge should focus on testing the extent ofmineralization along the central calc-silicate unit (509 Trend) to theNE and SW, as well as further delineation of the north and southcalc-silicate units. Though drilling to date hasn't provided directevidence, there may be potential for continuity in grade between theMain Gil and Sourdough Ridge deposits.
Qualified Person
Mark S. Robinson, P. Geo., State of Alaska Licensed Geologist No. 247 ofWrangell, Alaska, who is independent of the Company as defined inNI43-101. Mark Robinson is a Certified Professional Geologist (CPG)6414 with the American Institute of Professional Geologists (AIPG).Other professional societies and certifications include: Society ofEconomic Geologists (SEG) fellow since 1985; American GeologicalInstitute (AGI); and Alaska Miners Association (AMA). Mark Robinson is aQualified Person as defined in NI 43-101 and also qualifies under therules stated by the U.S. Securities and Exchange Commission ("SEC"), andhas verified the data contained in this news release for accuracy.
We seek Safe Harbor.