Terraco Also Reports Metallurgical Test Work Underway
Vancouver, BC, June 27 2012 � (TSX.V: TEN | US: TCEGF) Terraco Gold Corp. (� Terraco� or the �Company�) is pleased to announce assay results from the first 10 core holes of the 2012 drill program completed at its Almaden (Nutmeg Mountain Gold) Project in Washington County, Idaho. In-fill core drilling continues to encounter significant intercepts, including some longer intervals of higher grade gold mineralization than the average resource grade, from surface to 91 meters (�m�) or (300 feet (�ft�)).
Drill Highlights include:
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Hole MET-1 intersected 68.4 m averaging 1.301 grams per tonne (�gpt�) gold from 1.4 to 69.8 m (224.5 ft averaging 0.038 Troy ounces per short ton (� opt�) gold from 4.5 to 229.0 ft), including 27.4 m averaging 1.820 gpt gold to 35.4 m (90 ft of 0.053 opt gold to 116.0 ft) and 3.2 m averaging 1.905 gpt gold to 63.6 m (10.5 ft of 0.056 opt gold to 208.5 ft);
A drill table summarizing results to date may be found at the conclusion of this release.
The 2012 drill program includes close-spaced in-fill core drilling designed to better define resources in areas of older conventional or rotary air blast (�RAB�) and reverse circulation (�RC�) drilling and to continue to test the hypothesis that new core drilling may increase the average grade of the resource over the historical RAB and RC drill results. Additionally, large diameter core drilling was conducted to obtain sufficient material for metallurgical testwork. The first metallurgical hole (MET-1) of large diameter core returned the best intercept.
Todd Hilditch, President and CEO of Terraco, said: �We are very pleased with this first set of 2012 drill results and believe the program we designed for the Almaden (Nutmeg Mountain Gold) Project is on the right track. We look forward to the remaining results in the weeks to come�.
Drill and Program Summary
The 2012 exploration program was designed to accomplish three goals:
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Continue to increase the grade of the deposit internally by obtaining better, more representative samples through the use of core drilling instead of reverse circulation drilling;
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Obtain large diameter core samples for metallurgical testwork that will address specific questions unanswered in prior metallurgical studies; and
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Explore for high grade feeder zones below and laterally away from the known resource.
In 2012, much of Terraco�s core drilling is targeted at improving grade within the resource, by using close-spaced HQ3 core drilling in four different areas of the deposit in the attempt to quantify the degree to which there may be a beneficiation of average resource grade. Shallow core holes in these areas will replace older RAB and RC drilling in deposit modeling to measure the difference in grades between the various drill techniques. MET-1 and TAL-775C are good examples. (A table of all the drill intercepts returned to date for the 2011-2012 Almaden (Nutmeg Mountain Gold) programs can be found on Terraco�s website.)
So far in this year�s program, Terraco has drilled 28 HQ3 holes for a total of 2,462.3 m (8,078 ft) and 4 large diameter (4 inch) core holes amounting to 298.7 m (980 ft) for metallurgical purposes. Most of the HQ3 holes were drilled to target depths of 90 m (300 ft) or less. A few holes, drilled as deep as 610 m (2,002 ft), tested for gold mineralization down dip along structures, and explored for deeper feeder zones.
Metallurgical Test Work Underway
Terraco has engaged McClelland Laboratories in Sparks, Nevada to complete multiple column leach and other metallurgical testwork. Large diameter core was used to provide larger particle size fractions to McClelland for column testwork. Testing will focus on leach recoveries by ore type and size fractions. Even though previous metallurgical studies have been performed on a number of samples from the Almaden (Nutmeg Mountain Gold) deposit, few focused on specific mineralization types or left questions about recoveries at larger particle sizes. Metallurgical results are expected in calendar Q3/4.
Assay results are summarized in the table below.
Intersections were composited using a 0.34 gpt (0.010 opt) gold cut-off and may include short intervals of values below the cut-off grade.
Assay determinations for gold were made by 50 gram fire assay, using an AA finish. Analyses were performed by ALS Minerals USA, Inc. in Reno, Nevada.
Click below for a map of drilling to date:
June 27th, 2012 Terraco Gold Corp. Drill Collars
To view this entire press release please visit: June 27th, 2012 Terraco Gold Corp. Press Release
Please always feel welcome to call at either of the numbers listed below.
Thank you as always for your time.
Matt
Please find the updated Terraco Gold Corporate Presentation contained in the link below: http://www.terracogold.com/i/pdf/Terraco_CorpPresentation.pdf
Please find the Terraco Gold Corporate Video with contained in the link below: Terraco Gold Corporate Video
Please visit our website at: http://www.terracogold.com/
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About Terraco Gold Corp.
Terraco Gold Corp. (TSX.V: TEN | US: TCEGF) ("Terraco") project portfolio includes an advanced-stage gold project in Idaho, a Royalty Option on an evolving Nevada gold discovery and a neighbouring early-stage gold/silver project in Nevada, USA. Almaden Project is located 126 kilometres north of Boise, Idaho. The project hosts a National Instrument 43-101 compliant measured plus indicated and inferred resource of 948,000 ounces of gold within 90 m of surface. The advanced- stage Almaden project has excellent access with good infrastructure and includes over 66,000 m of drilling in 903 drill holes. Terraco has completed a drill program to explore the extension of the near surface mineralization that is open to the north and south, as well as test for high-grade, bonanza-style structurally controlled gold mineralization at depth. Project comparisons for Almaden are The Ken Snyder "Midas Mine" (Newmont) and the Hollister Mine (Great Basin Gold) located in northeast Nevada.
2.5% net smelter royalty ("NSR royalty") on The Spring Valley Gold Project ("Spring Valley"), located in Pershing County, Nevada. Spring Valley is a joint venture between Barrick Gold Corp. ("Barrick") and Midway Gold Corp., where Barrick has the right to earn 60% interest in the project by completing work expenditures totalling US $30 million before December 31, 2013. Terraco's 100%-owned Moonlight Project, which currently encompasses over 5,000 acres, is located along trend and adjoins the north side of Spring Valley.
Moonlight Project is located 380 kilometres northeast of Reno, Nevada and approximately 8 kilometres north of the Coeur d'Alene Rochester silver-gold mine. The Rochester Mine has produced over 125 million ounces of silver and 1.2 million ounces of gold in its 25 year history and has recently returned to production.
Ken Snyder, PhD (Lead Consulting Geologist). Both Mr. Sulfrian and Dr. Snyder were instrumental in the discovery of major Nevada gold mines including Barrick's Goldstrike Mine and Newmont's Ken Snyder Midas Mine respectively.
Matt W. Johnston 960-1055 West Hastings St. Vancouver, BC Canada V6E 2E9 Tel: 604.443.3835 Toll Free: 1.877.792.6688 Ext: 4 www.terracogold.com
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