Calgary, Alberta--(Newsfile Corp. - August 24, 2017) -Teras Resources Inc. (TSXV: TRA) ("Teras" or the "Company") is pleased to announce the initiation of the drilling campaign at the Cahuilla gold/silver project in Imperial County, California to begin testing the targets delineated in the west and southwest expansion areas which were defined by geophysical surveys and the 2016/2017 detailed surface geologic mapping and geochemical sampling programs.
The objectives of this round of drilling are to begin diamond core drilling of the new targets situated due west of the resource area in Central Canyon to identify subsurface extensions of highly anomalous outcropping gold/silver veins and to test a large geophysical resistor that may represent a faulted extension of the existing precious metal resource. This small drilling program will obtain detailed stratigraphic, structural and alteration data for planning future drill sites.
The Monadnocks/West Ledges area to the west is essentially a greenfield exploration play to test a new structural zone. Reverse circulation drilling may be employed in which will reduce our costs and allow for more holes to be drilled. These new target areas are essentially unexplored and exhibit very prospective geology, geochemistry and geophysics, we strongly believe that addition drilling will result in a significant increase in both overall precious metal resources and gold/silver grades. Planned drill holes locations are shown on the following map:
Figure 1: Drill Target 2017
Peter Leger, President and CEO of Teras Resources, commented, "We are very excited to begin drilling our new targets in the southwest expansion areas. This is the first of many future drill campaigns that we will be conducted to explore these extensive new targets where very little to no drilling has occurred. We strongly believe that additional drilling will eventually result in a significant increase in both overall precious metal resources and gold/silver grades."
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 host rocks with numerous sheeted high-grade sheeted quartz veins. Teras filed a NI 43-101 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.
Dr. Dennis LaPoint, a qualified person under National Instrument 43-101 "Standards of Disclosure for Mineral Projects," and 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. Dr. LaPoint has reviewed and verified the mining, scientific and technical information contained in this news release. Dr. LaPoint is a registered geologist with the Society of Mining Engineers.
