Teryl Announces Significant Gold Drill Results on the Kinross/Teryl Gil J/V 2009 Exploration Program
Tuesday October 20, 4:27 pm ET
ca.us.biz.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 10/20/09) - Teryl Resources Corp. (TSX-V:TRC - News)(OTC.BB:TRYLF - News) is pleased to announce the current $1.6 million dollar exploration program has completed 15,295 feet of drilling, primarily targeting the joint venture Sourdough Ridge prospect near its Gil deposit. The principal goal of the 2009 program is to further delineate the mineralized zone at Sourdough Ridge. The exploration plan was also designed to complete infill drilling in order to gain a better understanding of the continuity of mineralization to aid in calculating an initial NI 43-101 compliant resources estimate. Teryl Resources believes that preliminary drilling results from the 2009 exploration program have the potential to significantly increase the total gold resource of the Gil deposit area. The 2009 exploration program is an important step in achieving Teryl Resource's goal of developing a producing mine in the Fairbanks Mining District.
Selected Drill Hole Results on Sourdough Ridge for 2009
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Interval (feet in Assay Results Assay Results
Hole Number depth) opt/Au gpt/Au
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GVR09-512 10-65 55 feet of 0.02 55 feet of 0.68
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GVR09-513 15-75 60 feet of 0.05 60 feet of 1.71
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and 105-120 15 feet of 0.04 15 feet of 1.36
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GVR09-514 415-460 45 feet of 0.03 45 feet of 1.02
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GVR09-515 170-190 20 feet of 0.06 20 feet of 2.05
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GVR09-518 285-320 35 feet of 0.06 35 feet of 2.05
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GVR09-519 190-265 75 feet of 0.01 75 feet of 0.34
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and 355-395 40 feet of 0.02 40 feet of 0.68
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GVR09-520 235-265 30 feet of 0.04 30 feet of 1.36
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GVR09-521 220-285 65 feet of 0.10 65 feet of 3.42
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GVR09-522 5-70 65 feet of 0.01 65 feet of 0.34
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GVR09-523 125-230 105 feet of 0.04 105 feet of 1.37
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GVR09-534 15-90 75 feet of 0.09 75 feet of 3.08
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GVR09-540 145-250 105 feet of 0.14 105 feet of 4.79
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GVC09-526 275-310 35 feet of 0.10 35 feet of 3.42
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GVC09-527 175-215 40 feet of 0.05 40 feet of 1.71
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" " 365-380 15 feet of 0.03 15 feet of 1.02
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GVC09-529 0-20 20 feet of 0.050 20 feet of 1.71
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" " 40-50 10 feet of 0.032 10 feet of 1.09
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" " 75-110 35 feet of 0.11 35 feet of 3.77
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" " 280-315 35 feet of 0.056 35 feet of 1.91
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GVC09-530 105-125 20 feet of 0.026 20 feet of 0.89
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" " 135-145 10 feet of 0.038 10 feet of 1.30
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Kinross Gold (K-TSE), our joint venture partner, is planning on completing a mapping, rock and soil sampling program this year along the eastern portion of the mineralized trend. This effort will be designed to identify additional drill targets. The current drilling along Sourdough Ridge has indicated a mineralized zone at least 1500 feet long which remains open to the east. The Sourdough Ridge zone is adjacent to and east of the Main Gil zone, which is part of the joint venture property. The Main Gil zone has a 2500 foot long mineralized zone with an average of 0.04 ounces gold per ton.
John Robertson states, "Pursuant to our previous 43-101 report completed in 2005 by Curt Freeman, several other exploration targets have been identified but not fully tested on the Gil claims which should increase the potential substantially on the Gil J/V claims."
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.
ABOUT TERYL RESOURCES
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 (Tokyo: K; NYSE: KGC) (80% Kinross/20% Teryl). To date USD$7.5 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.6 million budget has been approved for 2009 to test several gold anomolies on the Gil Claims. The Company's other Alaska holdings include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC.BB:LNXGF - News); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at terylresources.com.
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.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contact:
Contacts:
Teryl Resources Corp.
John Robertson
President
800-665-4616 or 604-278-5996
604-278-3409 (FAX)
www.terylresources.com
Source: Teryl Resources Corp. |
