Teras Significantly Increasing Silver Values on Its Cahuilla Project
02 Maggio 2013 - 2:30PM
Marketwired Canada
Teras Resources Inc.("Teras" or the "Company") (TSX VENTURE:TRA) (OTCQX:TRARF)
Teras recently completed a silver re-assay program using a four acid digestion
technique instead of the original two acid digestion procedures used for drill
samples obtained in 2011 and 2012 from the Cahuilla project in Imperial County,
California. The four acid digestion re-assays were conducted by ALS Chemex
Laboratories in Reno, Nevada on drill samples and the results indicate that by
using this new procedure, the silver values are significantly higher than the
original assays.
A variety of pulp samples from reverse circulation drill holes from the recent
drilling program were analyzed. Samples were selected from a variety of
different mineralogies and silver grades. The samples are within the known NI
43-101 compliant mineral resource used to calculate a silver resource. The four
acid digestion procedure can more thoroughly measure silver contents and
potentially result in a higher and more accurate assay when compared to the
initial two acid digestion method.
A total of 47 samples were analyzed and selected from many different locations
throughout the project site at various depths to obtain a broad range of silver
values for comparative analyses. The original two digestion assays were
conducted at three laboratories in Reno, Nevada including BSI Inspectorate,
McClelland and ALS Chemex while the four acid digestion re-assays were completed
at ASL Chemex. Results from the silver re-assay program as follows:
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Four Acid Digestion Re- Percent Higher
Assays Than Original Two Acid Digestion
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Inspectorate McClelland ALS Chemex
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All Completed at ALS Chemex 33% 63% 27%
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The four acid digestion analyses for all three labs combined are 41% greater
than the original two acid digestion assays, which could result in a substantial
increase in our silver resource. Future NI 43-101 reports will include the four
acid digestion assays in addition to any new drill results. Additional drill
pulp samples are being collected for conducting further four acid digestion
re-assays in order to better substantiate the percentage increase in silver
values. In the future, all drill samples will be assayed utilizing the four acid
digestion preparation methods.
Peter Leger, President and CEO of Teras Resources commented "We are very pleased
with the potential substantial increase in our silver resource at Cahuilla. The
four acid digestion technique increases our silver content significantly as well
as provides us with more accurate precious metal values which will guide us in
optimizing silver recoveries once Cahuilla is in operation. This is yet another
positive leap forward for our Cahuilla project."
Dale A Vitone P. Eng., registered with the Association of Professional Engineers
of Ontario, Alberta and North West Territories 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. Mr.
Vitone has reviewed and verified the technical information contained in this
news release.
About Teras
The Company 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 demonstrates the potential for a large-scale, bulk 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 million plus ounces of gold and
11 million plus ounces of silver on its Cahuilla project (70.148 million tons at
an average grade of 0.015 ounces per ton gold and 0.17 ounces per ton silver
with a cut-off-grade of 0.008 ounces per ton gold). The Company has an
aggressive plan to increase the resource and develop the project for future
mining operations.
This press release may contain "forward-looking information" within the meaning
of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein may be forward-looking
information. Generally, forward-looking information may be identified by the use
of forward-looking terminology such as "plans", " expects" or "does not expect",
"proposed", "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 potential of the Cahuilla Project; the potential of geophysical
programs on the Cahuilla Project; the potential to expand the resource, to
identify new targets and to identify high grade zones and structures; the timing
of and potential of drilling and exploration programs, surveys, studies and
developments; and the potential for finding high grade deposits. 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 actual results of
exploration projects being equivalent to or better than estimated results in
technical reports or prior exploration results; future costs and expenses being
based on historical costs and expenses, adjusted for inflation; continued
success in drilling and exploration programs and geological and geophysical
studies at the Cahuilla project; successful studies in mining techniques and
metallurgy; commodity prices continuing at today's prices or rising; obtaining
the necessary funding to carry out recommended work programs, exploration and
studies; and continued success in obtaining permits. Additional assumptions can
be found in the Company's disclosure documents on the SEDAR website.
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. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Teras Resources Inc.
Peter Leger
President
(403) 262-8411 or (403) 852-0644
pleger@teras.ca
www.teras.ca
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