Teras Resources has received the second Environmental Assessment permit to drill further 200 holes at the Cahuilla project, California. This is a gold-silver project and has huge paleo-hot springs, epithermal system that has several high-grade veins, which is present in a wide-spread gold-silver mineralization.
During April 2011, the company got the permit previously to drill 200 holes and was approved on October 24, 2011 to drill further 200 holes at the Cahuilla project. Hence the company has been authorized to drill around 400 holes and the key objective is to extend the current high-grade and dispersed mineralization of gold and silver extensively, which has been outlined from past and recent drill program.
Teras has been allowed to drill 420 holes totally at the project as it received the primary earn-in contract with Consolidated Goldfields during February, 2010. The company has completed 22 reverse circulation (RC) and core holes. Currently, a significant RC campaign has been performed by the company, which will include at least 100 holes, totaling more than 20,000 m. One drill is working at the project location and a second drill will begin the work in December, 2011.
Teras’s CEO and President, Peter Leger has commented that the company considers this drill permit approval as a chance to drill several drill holes in order to form a significant mineralization model of gold and silver. The company is excited about the progress at the Cahuilla project regarding the drill permit approval and the laboratory results. As the drilling of these further holes has been approved, Teras will be looking for additional improvement in the program by including further drill rigs in 2012.
Source: http://www.teras.ca/