Terraco Gold Corp. (TSX.V TEN | US: TCEGF), has a mix of advanced and early-stage gold-silver projects in Idaho and Nevada, USA.

The 100% owned Almaden Project is located 12 miles east of Weiser and 78 miles north of Boise, Idaho. The project hosts a National Instrument 43-101 compliant measured plus indicated resource of 864,000 ounces of gold and an inferred resource of 84,000 ounces of gold within 300 feet of surface. The advanced- stage Almaden project has excellent access with good infrastructure and includes over 199,000 feet of historic drilling in 887 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.

The 100% owned Moonlight Project is located 21 miles northeast of Lovelock, Nevada and about five miles north of the Coeur d'Alene Rochester silver-gold mine. The Rochester Mine has produced over 127 million ounces of silver and 1.5 million ounces of gold in its 24 year history and has recently returned to production. Additionally, the Moonlight Property adjoins the north side of the Barrick Gold Corp./ Midway Gold Corp Spring Valley joint venture. Spring Valley, operated by Barrick, hosts a National Instrument 43-101 measured, indicated and inferred resource of 4,100,000 ounces of gold. Barrick's 2009 and 2010 drilling confirms the gold mineralization is open to the north (towards Moonlight) and at depth.

 

Terraco has executed a definitive agreement with Seymork Investments Ltd., a British Columbia company, for the acquisition of a significant land package and the option to acquire an additional 2,287 acres of net surface rights and 6,187 acres of net mineral rights at and in the area of Terraco's Moonlight property. The Transaction provides Terraco with 100% ownership of a larger strategic land package and a better overall exploration opportunity for its Moonlight Property.

 

Terraco has also enhanced its presence in the Humboldt trend by entering into a three-way transaction, whereby Terraco arranged for a US$5,000,000 (non-dilutive) cash infusion and acquired an option on a mineral production royalty of up to 2.5% (on a sliding scale net smelter returns basis) on claims covering part of the Barrick-led Spring Valley Project.

 

 

Latest News Release

Terraco Gold Reports on Significant Upgrade in Resource Released by Midway Gold on the Spring Valley Gold Project, Nevada

Terraco has royalty (NSR) coverage of up to 3% within Spring Valley and controls 35sq km’s adjoining Spring Valley
 

Vancouver, BC, August 13, 2014 - (TSX Venture: TEN). Terraco Gold Corp. (“Terraco” or the “Company”) is pleased to report that on August 12, 2014 Midway Gold Corp. (“Midway”) (TSX:MDW, NYSE:MDW) announced an independent mineral resource estimate update on the Spring Valley gold project, Pershing County, Nevada (“Spring Valley“).  Spring Valley is a joint venture (the “Spring Valley Joint Venture”) between Barrick Gold Corp. (“Barrick”) holding 75% and Midway holding 25%. 

Midway has reported an increase in the measured and indicated mineral resource category and an increase in gold grade from the 2011 to the 2014 resource estimate. A total of 672 drill holes are included in the 2014 resource estimate and include data from an additional 153 holes drilled since the 2011 resource estimate. In addition, Midway has reported that Barrick has increased the 2014 project budget to $17.4 million which includes $9 million for continued in-fill drilling and $8.4 million for preparation of an internal pre-feasibility study and other related project development expenditures required for mine planning (refer to Midway press release dated August 12, 2014). 

Terraco has gold royalty coverage of up to 3% net smelter returns royalty (“NSR”) on claims covering the majority of Spring Valley and also controls over 35 square kms of early-stage exploration potential (the Moonlight Project) adjoining the Spring Valley Joint Venture to the north.

Terraco shareholders are encouraged to review Midway’s press release of August 12, 2014 and the National Instrument 43-101 technical report summarizing the updated mineral resource estimate on Spring Valley which is expected to be filed by Midway on sedar.com on or before September 26, 2014, and available under Midway’s profile. 

“Terraco is pleased to see the continued growth at the Spring Valley Barrick/Midway joint venture project. Our royalty structure, of up to 3% NSR, is a flagship Nevada royalty and a lead asset to our Company. Shareholders of Terraco should be very encouraged by developments outlined in Midway’s August 12th release which we believe will result in additional value for our shareholders. Additional exploration potential was also highlighted in the Midway release as the current mineral resource is open to the south, northwest and at depth. A number of high potential drill targets were also identified outside the current resource area. The Spring Valley project as a whole bodes well for our royalty holdings and adjoining Moonlight Project.” said Todd Hilditch, President and Chief Executive Officer of Terraco.

Terraco’s Royalty Assets and Map 

For a narrated video presentation of Terraco’s royalty assets please click the following link:
Terraco Gold Spring Valley Asset Presentation Video

 

 

Legal Notice / Disclaimer

 

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

 

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

 

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.


To contact us please email rick@aheadoftheherd.com

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