Apr 12 2013
Trulan Resources Inc. (the "Company" or "Trulan") is pleased to report on the Gold value contained in the first four ore bodies that form part of the Company's IGP Iron-Gold-Platinum Project in Chile.
According to the geological report based on extensive sampling to determine the size of the Indicated Resource of the four known ore bodies to date, gold particles are widely disseminated throughout the property. All samples collected were tested for gold and the results indicate an average grade of .25 g/t Au.
The IGP Project has a delineated Indicated Resource of 247 million metric tons contained in four ore bodies. Tonnage and grade indicate that there are 1,764,112 ounces of recoverable gold contained in the areas of the IGP that have been tested and sampled thus far. Using a cut-off market value of $1,500.00 per oz, the Indicated in-situ Gold Resource is currently valued at USD$2,646,168,000.
The Company recently reported that magnetite in the four deposits of the IGP contains 62% iron ore. Based on recent (January, 2013) spot market prices for iron ore and calculating grade, tonnage, mine life, production costs and recovery rate, the iron ore contained in the known deposits has a present market value of USD$2,912,090,850. Including the newly released gold numbers, the resulting aggregate mineral value confirmed to date is USD$5,558,258,850.
Trulan CEO, Robert Rosner , said, "We are obviously very pleased that the gold value is as significant as it is. Given that each of the ore bodies are subject to further step-out exploration drilling and sampling, it is not inconceivable that the number of ounces will increase. The IGP has the potential to be considered a world class discovery."
Source: http://www.trulanresources.com