Calgary, Alberta--(Newsfile Corp. - December 16, 2014) - Teras Resources Inc. (TSXV: TRA) ("Teras" or the "Company"): The
company has completed an independent review of its Cahuilla project to assess
the incorporation of the high grade intercepts encountered in the 7 diamond core
drill holes completed and announced June 5, 2014 and an additional 54 RC drill
holes drilled in 2012 / 2013 the last of which were announced on December 12,
2013.
The review was performed by Mr. Bill Fleshman FAusIMM (CP)
using GEOVIA GEMS™ 3D software modelling package to assist with prioritizing
high value targets prior to implementing the next phase of drilling. The
additional 61 holes have a positive impact at the Cahuilla Project. The review
modeled geologically the sub vertical sheeted veins recognized in our last
diamond core drill program (announced June 5, 2014). Recognition of the sheeted
vein complex has identified a potential higher grade block of mineralization.
The diagram below illustrates the geometry of the higher grade block (in red)
defined by capturing many of the 2.0+ grams/ton Au intercepts and includes the
highest intercept of 135.4 grams/ton Au (announced January 26, 2012). Silver was
not modelled.
To view an enhanced version of "Modoc Fault Zone and High Grade Target", please visit:
http://orders.newsfilecorp.com/files/2074/13064_enhancedx1x1.jpg
To view an enhanced version of "Drill Holes with 2 G/T or More in Resource Area", please visit:
http://orders.newsfilecorp.com/files/2074/13064_enhancedx2x1.jpg
To view an enhanced version of "Drill Holes with 6 G/T or More in Resource Area", please visit:
http://orders.newsfilecorp.com/files/2074/13064_enhancedx2x2.jpg
Teras will use this modeling to
focus on increasing the potential size and grade of
this block in the next phase of drilling.
About Teras
Teras 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 Teras believes that the Cahuilla project has the potential to develop
into a 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 1.0 million
ounces of gold and 11.9 million ounces of silver on its Cahuilla project (70
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) and inferred class
of 10 million tons grading 0.011 opt gold and 0.10 opt silver. Gold equivalent
ounces are 1.2 million ounces in indicated class and 130,000 ounces in inferred
class using a ratio of 55 silver ounces to 1 gold ounce.
Dale A Vitone P. Eng., registered with the Association of
Professional Engineers of Ontario, Alberta and Northwest Territories and a
director of 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 mining scientific
and technical information contained in this news release.
For further project and corporate information,
contact:
Teras Resources Inc.
Peter Leger, President
(403)
262-8411
(403) 852-0644
Email: pleger@teras.ca
Website: 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 contains "forward-looking information"
within the meaning of applicable Canadian securities legislation. All
statements, other than statements of historical fact, included herein are
forward-looking information. Generally, forward-looking information may be
identified by the use of forward-looking terminology such as "plans", "goals", "
expects" or "does not expect", "proposed", "potential", "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 diamond
drilling program being conducted by the Company and the timing of results of
such program; the potential of the Company's Cahuilla project to develop into a
mining operation; and the Company's goals for the Cahuilla project. 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
availability of third parties to conduct and evaluate the results of the diamond
drilling program; the actual results of exploration projects and current
exploration programs 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. A description of other
assumptions used to develop such forward-looking information and a description
of other risk factors that may cause actual results to differ materially from
forward-looking information can be found in the Company's disclosure documents
on the SEDAR website at www.sedar.com. 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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