May 23 2013
Vancouver, BC - Teryl, Inc., the U.S. subsidiary of Teryl Resources Corp., (TSX Venture Exchange: TRC.V) is pleased to announce a placer and hard rock diamond drilling program has commenced on the Fish Creek property in the Fairbanks, Alaska mining district.
The drilling contract requires 15 days of placer diamond drilling at a cost of $1,500 per day, for a 12 hour day. The drilling is subject to favorable weather conditions. The operator of the drill will be Kenn Roberts of Texas, and Pete Rutledge, project manager. Teryl's consulting geologist, Paul D. Gray, P.Geo. will oversee the drilling program, core logging , and assay protocols on behalf of the Company.,. Kenn Roberts will test his in situ Borehole Placer Gold Extraction (IBPGE) process in the holes where results warrant. All recovered gold from this program will be Teryl, Inc.'s property to divide with its partners. Kenn Roberts, a First Nations from Yukon has multiple years of drilling experience in remote locations and has served as mineral development advisor to First Nations.
Mr. Peter Rutledge states "This 2013 exploration placer drilling program is an addition to the lode drilling, which has also commenced to test the intrusive targets." (See news release dated May 14, 2013). Mr. Rutledge further states "these drill targets were generated from previous drilling results and from interpretations performed by geologists whom have conducted work in the past. The Proposed 2013 drill holes are designed to twin one historic drill hole combined with stepout and scout drilling targeting geophysical anomalies. The main objective of the 2013 lode drilling program is interpreted near surface mineralized zones. Mr. Rutledge further states he has identified visible placer gold from the 42-47' level from a 2" diameter core tube sample in the placer drilling just above the bottom of the first placer drill hole, further results are pending".
Keltic Bryce owns a 50% working interest and Teryl, Inc owns a 50% working interest in the Fish Creek property. Linux Gold Corp. retains a 5% royalty interest in Teryl, Inc.'s interest.
The Fish Creek property consists of 30 claims adjacent to the Gil property, currently owned by Kinross Gold Corporation. The Gil 20% interest, previously owned by Teryl Resources Corp., was acquired by Kinross on December 22, 2011 for $15 million US in a payment of $2.5 million dollars initially and another payment of $1.5million when in production with the balance from a 1% royalty. Teryl retains a 1/2 of 1% royalty for the life of the mine.
Paul D. Gray, P.Geo., the Company's consulting geologist has reviewed and approved the contents of this news release.
Source: http://www.terylresources.com/