Terraco Completes Geologic Mapping/Geophysical Survey Interpretation at Its Moonlight Property (Nevada)
21 Octobre 2011 - 1:00PM
Marketwired
Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco") is pleased to
announce that it has completed its interpretation of a geologic
mapping program, a prior aeromagnetic survey and the recent ground
geophysical survey on its Moonlight property ("Moonlight"), located
in Pershing County, Nevada. The new interpretation has helped to
delineate final targets for a drill program expected to begin next
week.
Mapping
Terraco completed second and third rounds of a detailed mapping
program at Moonlight that follows up previous exploration work. The
program aided in further understanding regional and local
stratigraphy, faulting and alteration, and how these important
factors may impact the potential for precious metals mineralization
in the Moonlight area.
The mapping at Moonlight was conducted by Mr. Tom Chadwick and
was completed in September 2011. Mr. Chadwick's mapping confirms
the structural setting and stratigraphy that includes a northerly
continuation of the Black Ridge Fault system from the area of the
Barrick-Midway Spring Valley joint venture that adjoins Moonlight
on the south side of the claim block. (The Black Ridge Fault, a
district-scale structural zone, has long been known to be an
important control of the mineralization at Coeur d'Alene Corp.'s
Rochester Mine and Barrick Gold Corp./Midway Gold Corp.'s Spring
Valley deposit).
Geophysical Surveys
Terraco utilized select geophysical surveys, including
aeromagnetic and a recent ground geophysical survey, to augment the
mapping data. North-trending, interpreted geophysical anomalies
coincide spatially with the mapped Black Ridge Fault zone and other
important structures for nearly three kilometers of strike length
at Moonlight. The geophysical signatures interpreted in conjunction
with the completed mapping further suggest that these areas as
prospective for gold mineralization and helped identify exciting
drill targets within the Moonlight project area.
The aeromagnetic survey was completed by Edcon-PRJ, Inc
(Lakewood, CO) and the ground geophysics survey was completed by
Zonge International (Tucson, AZ).
Exploration activity will include drill testing the Black Ridge
Fault system as well as other structures that may control
mineralization and alteration at Moonlight. In total, the
exploration program, including the use of selective geophysical
surveys, has lead to better drill target definition.
At Moonlight, as at Coeur Rochester and Spring Valley,
structures such as the Black Ridge Fault zone, exert significant
influence or control on precious metals mineralization. The
northerly-trending Black Ridge Fault zone is interpreted to cut
through Moonlight from the south and is reportedly the structural
control to deposits at Coeur Rochester and Spring Valley.
Corporate
Terraco also announces that it granted today an aggregate total
of 2,015,000 incentive stock options to directors, officers and
consultants of Terraco pursuant to its Stock Option Plan and
certain vesting provisions. These options will be exercisable at a
price of $0.26 per share and will expire on October 19, 2016. The
grant of the stock options is subject to regulatory approval.
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.
Contacts: Terraco Gold Corp. Todd Hilditch President and CEO
(604) 443-3831 or Toll Free: 1 (877) 792-6688 (604) 682-3860
(FAX)info@terracogold.comwww.terracogold.com
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