Teras Resources Inc. (TSX VENTURE:TRA): Peter Leger, President and Chief Executive Officer of Teras has announced completion of three diamond drill holes totalling 1,356 feet during the first round of the Phase 1 drill program at the Cahuilla gold-silver project in Imperial County, California.
The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple bonanza-grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project see the NI 43-101 Technical report entitled "Cahuilla property 43-101 technical report", dated October 25, 2007 prepared by Todd Wakefield, MAusIMM of AMEC E&C services filed on Sedar on November 15, 2007.
The primary objective of the first round drill program was to obtain good quality samples and high core recoveries, which was satisfied during this drill program. Intensely silicified host rocks and veins were encountered within the project area during the drilling of the three holes. Samples from the first hole have been delivered to Inspectorate Laboratories in Reno, Nevada and results are anticipated by the end of November. Core from the second and third holes will be delivered to the assay lab in November and results are expected in December.
The Company is planning to resume Phase 1 drilling in early 2011 utilizing both core and reverse circulation drill rigs. The primary objective of the Company is to focus on developing a NI 43-101 compliant mineral resource.
Thomas E. Callicrate B.Sc., Professional Geologist is the Company's nominated qualified person responsible for monitoring the supervision and quality control of the programs completed on the Company's properties. Mr. Callicrate has reviewed and verified the technical information contained in this news release through his knowledge and experience with the project.
Source: Teras Resources Inc.