Terraco Commences Drilling at its Moonlight Property (Nevada)
25 October 2011 - 9:00PM
Marketwired
Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco") is pleased to
announce that drilling commenced today at its 100% owned Moonlight
property ("Moonlight") in Pershing County, Nevada.
The fall 2011 drill program is expected to be approximately
4,500 metres and include up to 15 reverse-circulation ("RC") drill
holes. Drilling is being conducted by AK Drilling, Inc. of Butte,
Montana. Follow-up drilling in the spring of 2012 will be based on
the results of this fall's program and other targets identified in
the last 6 months as prospective for gold mineralization.
Drill targets are based on the interpretation of a geologic
mapping program, a prior aeromagnetic survey and the ground
geophysical survey recently conducted at Moonlight and announced on
October 21, 2011. Targets include drill testing the Black Ridge
Fault system and other structures that may control mineralization
and alteration at Moonlight.
Recent mapping confirms the structural setting and stratigraphy
that includes a northerly continuation of the Black Ridge Fault
system from the area of the Barrick-Midway Spring Valley joint
venture that adjoins Moonlight on the south side of the claim
block. As well, north-trending interpreted geophysical anomalies
coincide spatially with the mapped Black Ridge Fault zone and other
important structures for nearly 3 kilometres of strike length at
Moonlight. The geophysical signatures interpreted in conjunction
with the completed mapping further suggest that these areas are
prospective for gold mineralization and helped identify exciting
drill targets within the Moonlight project area. (The Black Ridge
Fault, a district-scale structural zone, has long been known to be
an important control of the mineralization at Coeur d'Alene Corp.'s
Rochester Mine and Barrick/Midway Gold Corp.'s Spring Valley
deposit.)
Almaden Project Update
Terraco's Phase I core drilling continues at its Almaden
property ("Almaden"), located in Washington County, Idaho. To date,
15 HQ3 core holes have been completed at Almaden with assay results
from 9 holes having been released. (See news releases dated June 29
and October 5, 2011, respectively.) Core samples from the remaining
holes are currently being analyzed, with results expected over the
next several weeks.
Terraco is very pleased with its progress to date at Almaden and
continues to improve upon its knowledge and understanding of the
project. The Almaden drill program was designed to improve grade
and confirm the continuity of the shallow tabular gold resource
that is near surface (within 100 metres or 300 feet of surface) and
to test for high-grade, bonanza style, structurally controlled gold
mineralization at depth (to 600 metres or 2,000 feet deep). To
date, drilling has encountered mineralized zones much deeper than
previous operators and returned gold values by the utilization of
core drilling that are significantly higher in value compared to
holes proximal to those drilled by past operators using
conventional drilling or RAB.
The core drilling will aid in further understanding local,
deeper faulting and alteration, and how these important factors may
have impacted potential precious metals mineralization at Almaden,
where mineralization is open to the north and to the south. Almaden
currently hosts an outcropping, flat lying, tabular ore body with a
National Instrument 43-101, Standards of Disclosure for Mineral
Projects ("NI 43-101"), compliant measured and indicated resource
of 864,000 ounces of gold from surface to 100 metres (approximately
300 feet).
The exploration and drill programs for Moonlight and Almaden
were designed by Charles Sulfrian, C.P.G., Vice President,
Exploration of Terraco and a 'qualified person', as defined by NI
43-101.
Terraco is a mineral exploration company, listed on the TSX
Venture Exchange under the symbol "TEN". Please visit Terraco's
website at www.terracogold.com for additional information.
Forward-Looking Statements
This news release contains forward-looking statements. Although
Terraco believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should
not be placed on them because Terraco can give no assurance that
they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Additional information on
these and other factors that could affect Terraco's operations and
financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com).
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 or
accuracy of this release.
Contacts: Terraco Gold Corp. Todd Hilditch President and CEO
(604) 443-3831 or Toll free: 1 (877) 792-6688 (604) 682-3860
(FAX)www.terracogold.com
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