Terraco Gold Corp.

Terraco Gold Corp.

April 04, 2012 07:00 ET

Terraco Announces Deployment of Third Core Rig to the Almaden (Nutmeg Mountain) Project in Idaho

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 4, 2012) - Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco") is pleased to announce that a third core drill rig has been deployed to its 100%-owned Almaden (Nutmeg Mountain) gold project located in Washington County, Idaho. Terraco now has 3 core rigs drilling.

Terraco's 2012 Phase I drill program consists of 2 rigs focused on infill and development core drilling, using Marcus & Marcus of Coeur d'Alene, Idaho, together with a third rig drilling large 4" diameter core holes, using National EWP of Elko, Nevada, for metallurgical test work.

"Terraco is drilling with 3 core rigs in an effort to provide, as quickly as possible, infill drill assay information necessary for the next step of evaluation. We are aggressively pushing towards the economic and geological studies required for a production decision," stated Todd Hilditch, President and CEO of Terraco.

The Almaden (Nutmeg Mountain) Project

The advanced-stage project has excellent access, infrastructure and now includes over 66,140 metres (217,000 feet) of drilling in 903 drill holes. The project is host to a low-sulphidation, epithermal gold deposit drilled extensively from 1980 to 1992 by a number of companies including Homestake and Amax Gold.

The Almaden project is a flat-lying outcropping ore body that, within surface to approximately 300 feet, hosts a National Instrument 43-101 ("NI 43-101") compliant measured resource of 239,000 ounces of gold (10,810,000 tons grading 0.022 ounces per ton ("opt"), an indicated resource of 625,000 ounces of gold (32,240,000 tons grading 0.019 opt) and an inferred resource of 84,000 ounces of gold (5,270,000 tons grading 0.016 opt), at cut-off grades of 0.008 opt, 0.012 opt and 0.023 opt, respectively, for oxide, mixed and sulfide mineralization.

The technical information in this release has been reviewed and approved by Charles Sulfrian, C.P.G., Vice President, Exploration of Terraco and a 'qualified person', as defined by NI 43-101, unless otherwise noted.

Terraco is a mineral exploration company, listed on the TSX Venture Exchange under the symbol "TEN". Please visit Terraco's website at www.terracogold.com for additional information.

Forward-Looking Statements

This news release contains forward-looking statements. Although Terraco believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Terraco can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Additional information on these and other factors that could affect Terraco's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

Neither the 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.

Contact Information

  • Terraco Gold Corp.
    Todd Hilditch
    President and CEO
    (604) 443-3831 or Toll free: 1 (877) 792-6688
    (604) 682-3860 (FAX)