News Releases 2013
March 11, 2013
Teryl Resources Corp. Receives a Qualified Geologist Report on the Westridge Property, Fairbanks, Alaska
For Immediate Release: March 11, 2013 - Vancouver, BC – Teryl Resources Corp. (TSX Venture Exchange: TRC.V, OTCBB: TRYLF) is pleased to announce a geological report on the Westridge gold property has been prepared by David Adams, B.S., M.S., CPG.
The Westridge property is located approximately 16 km north of Fairbanks, Alaska. The property consists of 48 State of Alaska mining claims controlled by Teryl Resources Corp. The claims cover approximately 1,749 acres on the north flank of the main ridge between Pedro Creek and upper Dome Creek; both of these drainages were significant historic placer gold producers. Access to the property is excellent: the Elliott Highway transects the westernmost edge of the property, and the Silver Fox Mine road transects the southwest portion of the property. All claim holdings comprising the property are in good standing, and no encumbrances to future mining activities are known or anticipated.
Additional exploration and drilling on the Westridge property is recommended as follows:
- Drilling: Additional drilling is recommended for the Old Glory Prospect area. The drilling should be designed to intersect northeast-trending, northwest-dipping intrusive dikes and structural zones by completing a series of drill holes along northeast fences, with each drill hole drilled to a depth of approximately 500ft. Angle drill holes, dipping -60 degrees and oriented towards the southeast, are suggested at each of the proposed drill collar locations. In addition to these proposed angle drill holes, a drill fan consisting of both angle and vertical drill holes is suggested for several key drill sites to help delineate strike and dip of mineralized zones and other geological features. In addition to these drill fences, at least one deep vertical hole (approximately 2,000ft) is suggested to test the possibility of a deeply buried mineralized stock similar to the Dolphin stock. Although diamond core drilling is preferred, RVC drilling, or a combination of both, could be used for the drill fences, however, diamond core drilling would be required for deep drilling.
Auger soil sampling: Additional auger soil sampling is recommended to expand the existing soil grid centered on the Old Glory Prospect. Specifically, additional sampling should be completed to the west, east and north of the existing soil grid.
Trenching: Additional trenches are recommended in the Old Glory Prospect. These trenches will help delineate the postulated northeast-trending dike complex and associated gold mineralization. Detailed mapping and sampling of trench floors will help identify and project structural zones which possibly influence structurally controlled gold mineralization in this area. Several short "scoop" trenches are recommended at some of the significant gold-anomalous soil sample sites on the west side of the soil grid. Chip channel sampling of trench floors should be completed at five foot intervals, as well as select rock grab sampling, for all trench excavations.
Reconnaissance rock sampling and geologic mapping: Additional rock grab sampling and geologic mapping traverses are recommended for the entire property. This work should be designed to fulfill the need for basic prospecting and creating a basic geologic map for the property, which is an essential component of creating a predictive model for gold mineralization on the property.
- Geophysical surveys: Geophysical surveys could potentially be used to map structural features and magnetic rocks, but are considered a lower priory at this time. Induced polarization methods could be used to identify water-saturated fault zones and zones containing fine grained disseminated sulfides. These methods are relatively expensive, and thus additional surface sampling and mapping is needed beforehand to better target the geophysical surveys.
ABOUT TERYL RESOURCES
Teryl Resources Corp. symbol TRC.V TSX Venture - has several gold prospects in Alaska near the Kinross Fort Knox Mine, a 10% net profit interest in the Stepovich claims. A 100% interest in the Westridge property and a 50% option on the Fish Creek property, adjacent to the Gil property. Teryl sold its 20% interest in the Gil property in Fairbanks, Alaska to Fairbanks Gold Mining Corp. to date $2.5 million dollars has been received and an additional $1.5 million payment upon production; $15 million (less advanced payments) from the 1% NSR of the property, thereafter Teryl retains a 1/2 of 1% royalty for the life of the mine. Teryl owns a 30% working interest and a 10% NPI interest in the Silverknife property, a silver/lead/zinc prospect located in Northern B.C. adjacent to Silvercorp's silver/lead/zinc discovery. Teryl has a small revenue interest in three producing oil and gas wells in Texas with Anadarko Petroleum as the operator. See www.terylresources.com website for more detailed information.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson, President
Press Release contact information:
John Robertson President, Teryl Resources Corp.
This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
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