Teryl Resources Corp. Announces Drill Program to Commence on 100% Owned Westridge Property, Fairbanks, Alaska
04 August 2011 - 6:22AM
Marketwired
Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) wishes to
announce that a drilling program is planned this season, subject to
adequate financing, to test several anomalous gold targets. The
Westridge claims are 22 miles, by road, north of Fairbanks, Alaska
and adjacent to the 1.3 million ounce gold deposit called the True
North Prospect, which was previously purchased by Kinross for 96
million dollars of shares and cash.
Previous results announced on September 29, 2004 as follows:
Rock and soil sampling was conducted in August approximately
1,600 meters west of the Old Glory prospect where the Company
discovered significant gold mineralization in 2003 (see News
Release dated April 28, 2004). Exploration in the newly discovered
area was prompted by past soil sampling conducted by Amax Gold that
indicated anomalous gold and arsenic in soils on the ridgeline
between Moose Creek #1 and Moose Creek #2. Initial sampling
consisted of 14 soil samples and 20 rock samples collected from
hand-dug pits.
One of two areas selected for this work returned soil samples
containing gold values ranging up to 848 ppb with elevated arsenic
and antimony values. Gold, arsenic and antimony values were
consistently higher in soil samples collected over granodiorite
intrusive host rocks suggesting a possible genetic association
between the intrusive rocks and gold mineralization. Rock samples
collected from the same hand-dug pits where soil samples were
collected returned gold values ranging up to 4,350 ppb (4.3 gpt or
0.127 opt). Gold was associated with anomalous arsenic and antimony
and was hosted by iron oxide stained quartz-bearing intrusives and
quartz-mica schist of the Fairbanks Schist. The extent of the
mineralization is open to expansion beyond the areas sampled to
date in 2004.
Based on the positive results from preliminary sampling,
additional soil and rock sampling will be conducted in October with
the goal of defining future drilling targets for this part of the
Westridge property. The 100%-owned Westridge property is two miles
south of the Kinross's True North deposit, and six miles north of
the Fort Knox deposit, which was reported to contain 4 million
ounces of gold at a grade of 0.03 opt gold.
All geochemical samples were analyzed by ALS Chemex for gold via
fire assay techniques plus a multi-element suite via ICP methods
with four-acid digestion. Blanks submitted with reconnaissance
samples suggest no unusual or spurious geochemical results.
Qualified Person: Mr. Curtis Freeman, MS, P.Geo., Certified
Professional Geologist (#6901), member of the American Institute of
Professional Geologists, is the Qualified Person as defined by
National Instrument 43-101 responsible for the accuracy of this
news release.
Two distinct gold in soil anomalies were located on the
Westridge property in 1999 by a Bombardier auger soil sample
program and RVC drilling. The west anomaly is approximately 4,000
feet NWSE by 3,000 feet NE - SW. The east anomaly extends along a
northeast trend for 7000 feet.
Previous drilling has resulted in significant gold intersected
with values up to 35 feet of gold value grading 1.68 grams of gold
(.049 opt).
ABOUT TERYL RESOURCES
Teryl Resources Corp. (TSX VENTURE: TRC) - has several gold
prospects in Alaska near the Kinross Fort Knox Mine, including a
20% interest in the Gil property, and one silver property located
in Northern B.C. adjacent to Silvercorp's silver lead zinc
discovery. Teryl also has a small revenue interest in 3 oil and gas
wells in Texas with Anadarko Petroleum as the operator. See
www.terylresources.com website for more detailed information.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson President
READER ADVISORY
This news release may contain certain forward-looking
statements, including management's assessment of future plans and
operations, and capital expenditures and the timing thereof, that
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control. There can be no
assurance that such statements will prove accurate, and actual
results and developments are likely to differ, in some case
materially, from those expressed or implied by the forward-looking
statements contained in this press release. Readers of this press
release are cautioned not to place undue reliance on any such
forward-looking statements.
Forward-looking statements contained in this press release are
based on a number of assumptions that may prove to be incorrect,
including, but not limited to: timely implementation of anticipated
drilling and exploration programs; the successful completion of new
development projects, planned expansions or other projects within
the timelines anticipated; the accuracy of reserve and resource
estimates, if any, grades, mine life and cash cost estimates;
whether mineral resources can be developed; title to mineral
properties; financing requirements; changes in laws, rules and
regulations applicable to Teryl, and changes in how they are
interpreted and enforced, delays resulting from or inability to
obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources, the impact
of general economic conditions in Canada, and the United States,
industry conditions, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
foreign exchange, stock market volatility and market valuations of
companies with respect to announced transactions. The Company's
actual results, performance or achievements could differ materially
from those expressed in, or implied by, these forward-looking
statements, including those described in the Company's Financial
Statements, Management Discussion and Analysis and Material Change
Reports filed with the Canadian Securities Administrators and
available at www.sedar.com, and the Company's 20-F annual report
filed with the United States Securities and Exchange Commission at
www.sec.gov. Accordingly, no assurances can be given that any of
the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits,
including the amount of proceeds, that the Company will derive
therefrom.
Readers are cautioned that the foregoing list of factors is not
exhaustive. All subsequent forward-looking statements, whether
written or oral, attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these
cautionary statements. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news
release and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities of the Company have not been registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither 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: Teryl Resources Corp. John Robertson President
800-665-4616 http://www.terylresources.com
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