Teras Resources Inc. (TSXV:TRA,OTCQX:TRARF) received positive geochemical sample results from the Cahuilla project in California. 130 surface geochemical samples were collected and they all were anomalous in precious metal mineralization. The Company has increased the exploration potential of the property significantly as a result.
As quoted in the press release:
All 130 surface geochemical samples collected (yellow) were anomalous in precious metal mineralization, while the sample locations indicated in purple assayed greater than 1.0 g/t gold and those shown in red ran between 0.5 and 1.0 g/t gold. Surface gold and silver values as high as 1.85 g/t and 37.1 g/t respectively were encountered. Historic exploration holes (green) drilled in the northeast pediment that host anomalous precious metal mineralization are also illustrated. Values of up to 3.40 g/t gold and 95.0 g/t silver were detected in these historic drill holes within strongly silicified rocks beneath the shallow gravel cover.
Teras Resources Inc. President and CEO, Peter Leger said:
We are very pleased with the new assays results from the recent geochemical sampling program. All samples collected from the northeast extension of the Modoc Fault contained anomalous precious metal mineralization while many indicated impressive gold/silver grades which significantly extend drill targets for more than one kilometer from our current NI 43-101 resource. We look forward to conducting additional field work in the near future to further increase the size of our already extensive precious metal system.
Nexus Gold Corp. (TSXV:NXS) is currently drilling on the Walker Ridge Gold Project in Nevada - a multiple target, Carlin-type gold exploration property. They have recently submitted an expanded Plan to increase the current 8 pad plan to 29 drill pads.
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