Terrane Metals starts three-month drill program at Berg
2008-07-31 14:42 ET - News Release
Mr. Robert Pease reports
TERRANE UPDATES EXPLORATION PROGRAMS AT BERG AND MT. MILLIGAN
Terrane Metals Corp. has commenced the company's 2008 exploration programs at the 100-per-cent-owned Berg and Mt. Milligan projects in central British Columbia, Canada.
Berg project
A 10,000-metre diamond drilling program is now under way on the Berg copper-molybdenum-silver project where indicated resources contain 2.5 billion pounds copper, 299 million pounds molybdenum and 25.4 million ounces silver. Inferred resources contain a further 800 million pounds copper, 122 million pounds molybdenum and 9.7 million ounces silver (see news release reported in Stockwatch on April 30, 2008).
The drill program is designed to expand the existing resource and to investigate zones of higher-grade molybdenum and silver mineralization that were identified in the 2007 work program. The program is expected to take three months to complete. Equity Exploration Consultants Ltd. has been contracted to conduct and manage the field program and Boart Longyear Canada has been contracted to undertake the drilling.
Sampling and quality control protocols are directed and supervised by Stewart Harris, PGeo, of Equity, who is a qualified person as defined under National Instrument 43-101. ALS Chemex Labs Ltd., an ISO 9001:2000 accredited laboratory in North Vancouver, B.C., will perform sample preparation and analytical work. In addition to an internal laboratory quality control program, Terrane maintains a quality assurance and quality control program through the systematic use of standards, blanks and duplicates.
Mt. Milligan
Terrane has now received preliminary results from Fugro Airborne Surveys for a 1,452-line-kilometre airborne HeliGEOTEM magnetic-electromagnetic survey completed in June, 2008. The survey covers approximately 264 square kilometres of the 400-square-kilometre project area and was designed to identify strong geophysical signatures, characteristic of the Mt. Milligan deposits, in areas with thick overburden cover. Anomalies identified by HeliGEOTEM are now being prioritized and investigated in the field.
In conjunction with the airborne program, field crews have also been mobilized to conduct soil and regional stream geochemistry programs within the project area to test for satellite deposits related to the Mt. Milligan copper-gold porphyry system.
The program is scheduled for completion in September, 2008, and is directed and supervised by Darren O'Brien, PGeo, vice-president, exploration, of Terrane, and a qualified person as defined under National Instrument 43-101.
Terrane recently completed a two-year $20-million feasibility study report on Mt. Milligan (see new release reported in Stockwatch on March 31, 2008) and has since awarded contracts for long lead-time 60,000-tonne-per-day process plant equipment.
Terrane corporate update
Terrane is pleased to announce it has retained, subject to regulatory approval, the services of Renmark Financial to support its investor communications and awareness activities in North America. In consideration of these services, the company has agreed to pay a monthly retainer of $7,000 for an initial 12-month contract period.
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