Teryl Resources Receives Additional Gold Assay Results From Kinross Gold
posted on
Sep 14, 2010 03:05PM
A history of successful gold exploration
Teryl Resources Receives Additional Gold Assay Results From Kinross Gold
VANCOUVER, BRITISH COLUMBIA, Sep 14, 2010 (MARKETWIRE via COMTEX News Network) --
Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) is pleased to announce that our joint venture partner, Fairbanks Gold Mining, Inc. (FGMI), a subsidiary of Kinross Gold Corporation, reports additional drill results as follows:
North Gil
---------------------------------------------------------------------------
Interval (feet in Assay Results Assay Results
Hole Number depth) opt Au gpt Au
---------------------------------------------------------------------------
GVR10-573 10 - 35 25 feet of 0.0489 1.676
---------------------------------------------------------------------------
GVR10-573 250 - 285 35 feet of 0.0418 1.523
---------------------------------------------------------------------------
Sourdough
---------------------------------------------------------------------------
Interval (feet in Assay Results Assay Results
Hole Number depth) opt Au gpt Au
---------------------------------------------------------------------------
GVR10-560 195 - 220 25 feet of 0.0508 1.742
---------------------------------------------------------------------------
GVR10-560 285 - 295 10 feet of 0.0322 1.104
---------------------------------------------------------------------------
GVR10-560 320 - 330 10 feet of 0.0171 0.586
---------------------------------------------------------------------------
GVR10-560 340 - 375 35 feet of 0.0121 0.415
---------------------------------------------------------------------------
---------------------------------------------------------------------------
GVR10-561 20 - 35 15 feet of 0.0175 0.599
---------------------------------------------------------------------------
GVR10-561 45 - 70 25 feet of 0.01 0.343
---------------------------------------------------------------------------
Note: opt refers to ounces per short ton and gpt refers to grams per metric
tonne. One troy ounce is equal to 34.2857 grams per metric tonne.
Two drills were working on the joint venture property. Kinross has completed 5431' of core and 9546' of R/C drilling. Additional assays for several holes are pending as of the date of this report.
The goal of the 2010 program is to further delineate the strike extension of the mineralized zones, and to infill between step-out holes, in order to gain a better understanding of ore-zone continuity.
Mark Robinson, P Geo. states that; "Phase II of Teryl's 2010 exploration effort will consist of the development of a 3-D model of the mineralized areas at Gil, Gil North and Sourdough Ridge. The 3-D modelling will result in new resource estimates. A preliminary mining plan will be developed and an economic analysis will result in an estimated rate of return on investment (ROI). Preliminary modelling products are expected some time in the fall of 2010."
Qualified Person
Mark S. Robinson, P. Geo., State of Alaska Licensed Geologist No. 247 of Wrangell, Alaska, who is independent of the Company as defined in NI43-101. Mark Robinson is a Certified Professional Geologist (CPG) 6414 with the American Institute of Professional Geologists (AIPG). Other professional societies and certifications include: Society of Economic Geologists (SEG) fellow since 1985; American Geological Institute (AGI); and Alaska Miner's Association (AMA). Mark Robinson is a Qualified Person as defined in NI 43-101 and also qualifies under the rules stated by the U.S. Securities and Exchange Commission ("SEC"), and has verified the data contained in this news release for accuracy.
ABOUT TERYL RESOURCES
To date, a total of US$9,000,000 has been expended by the joint venture partners, with Teryl and Kinross accounting for 20% and 80%, respectively, of total expenditures.
With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX: K; NYSE: KGC) (80% Kinross/20% Teryl). To date USD $9 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.5 million budget has been approved for 2010. The Company's other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: LNXGF); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. For further information visit the Company's website at http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson President
READER ADVISORY