NYBob
14 years ago
Teryl Resources Received a Letter of Intent to Acquire Its 20% Interest in the Gil Joint Venture Gold Property From Fairbanks Gold Mining Co., Inc., a Subsidiary of Kinross Gold
* Press Release
* Source: Teryl Resources Corp.
* On 9:15 am EST, Tuesday November 17, 2009
o
Buzz up! 0
o Print
*
Companies:
o Teryl Resources Corp. (Tier2)
o Teryl Resources Corp
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 11/17/09) - Teryl Resources Corp. (TSX-V:TRC - News)(OTC.BB:TRYLF - News) wishes to announce that Teryl Inc., 100% Subsidiary of Teryl Resources Corp., has received a letter of intent for the acquisition of its interest in the Gil Joint Venture Gold Property in Alaska, from its Joint Venture Partner, Fairbanks Gold Mining Inc., a subsidiary of Kinross Gold Corporation. (TSX:K - News)(NYSE:KGC - News).
Related Quotes
Symbol Price Change
TRC.V 0.3050 +0.0750
Chart for TERYL RESOURCES CORP. (Tier2)
{"s" : "trc.v,trylf.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}
The company's board of directors will review the offer which could lead to a fairness opinion to determine if the offer is acceptable. This agreement is subject to regulatory bodies approval and to a number of conditions and signing a final form agreement.
ABOUT TERYL RESOURCES
With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) (80% Kinross/20% Teryl). To date USD $9 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.6 million budget has been approved for 2009 to draft test several gold anomolies on the Gil Claims. The Company's other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC.BB:LNXGF - News); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson, President
READER ADVISORY
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.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Teryl, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com, and the Company's 20-F annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contact:
Contacts:
Teryl Resources Corp.
John Robertson
President
800-665-4616 or 604-278-5996
604-278-3409 (FAX)
http://www.terylresources.com
NYBob
14 years ago
Teryl Resources Announces That 3000 Feet of New Access Road Has Been Completed and Sampled on the Gil J/V Gold Property
* Press Release
* Source: Teryl Resources Corp.
* On 9:15 am EST, Tuesday November 10, 2009
*
Companies:
o Teryl Resources Corp. (Tier2)
o Teryl Resources Corp
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 11/10/09) -
Teryl Resources Corp. Teryl Resources Corp. -
(the "Company") (TSX-V:TRC - News)(OTC.BB:TRYLF - News) wishes to announce that 3,000 feet of access road has been completed east of the Sourdough Ridge Zone. A soil sampling program, and magnetometer (2.2 line miles) was conducted over a new grid covering the new access. The program was conducted by our Joint Venture Partner, Fairbanks Gold Mining Inc., a subsidiary of Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News).
Related Quotes
Symbol Price Change
TRC.V 0.2450 0.0000
Chart for TERYL RESOURCES CORP. (Tier2)
{"s" : "trc.v,trylf.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}
A 2010 Exploration Budget will be presented to the J/V management committee upon approval by Fairbanks Gold Mining Inc.
ABOUT TERYL RESOURCES
With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) (80% Kinross/20% Teryl). To date USD $9 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.6 million budget has been approved for 2009 to draft test several gold anomolies on the Gil Claims. The Company's other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC.BB:LNXGF - News); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson, President
READER ADVISORY
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.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Teryl, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com, and the Company's 20-F annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contact:
Contacts:
Teryl Resources Corp.
John Robertson
President
800-665-4616 or 604-278-5996
604-278-3409 (FAX)
www.terylresources.com
Buzz up! 0
Send
Share
Print
Share this page
*
Delicious
*
Twitter
*
Myspace
*
Digg
*
StumbleUpon
*
Facebook
Related Headlines
* Teryl Resources Announces That 3000 Feet of New Access Road Has Been Completed and Sampled on the Gil J/V Gold Property - Marketwire
* AXcess News: Kinross Gold JV Partner Moves Closer to Mine Development - Marketwire
* Teryl Announces Significant Gold Drill Results on the Kinross/Teryl Gil J/V 2009 Exploration Program - Marketwire
* Teryl Resources Announces New Public Relations Firm Retained - Marketwire
* Teryl Resources Receives Additional Significant Gold Assays on the Gil Joint Venture Property, Alaska - Marketwire
Top Stories
* Australian jobs surge; jobless rate at 5.8 percent - AP
* AB InBev makes 3Q profit, but revenue down 10 pct. - AP
* Bank of Korea keeps key rate at record low - AP
* Asian markets slip as rally peters out - AP
* Foreclosures dip 3 pct. in October from September - AP
Related Message Boards
* Teryl Resources Corp. (Tier2)
* Teryl Resources Corp
Sponsored Links
*
Trade Stocks? Try Currency Trading
Trade in a highly trending market 24-hrs a day, 5.5 days a week. GFT.
www.GFTforex.com
*
NYBob
15 years ago
Kinross Gold JV Partner Moves Closer to Mine Development
NEW YORK, NY -- (Marketwire) -- 10/20/09 --
Teryl Resources -
(TSX-V: TRC) (OTCBB: TRYLF), which holds a 20% stake in a joint
venture partnership with Kinross Gold near the Fort Knox gold
mine outside of Fairbanks, Alaska, released drill results on
one of the gold prospects that appears to be a sure bet
for further exploration.
Teryl Resources referred to the drilling results as
"significant" when describing the Sourdough Ridge gold
prospect near its Gil deposit.
Teryl and Kinross had budgeted $1.6 million to explore
the Sourdough Ridge prospect this year and by the looks
of Teryl's findings, the likelihood of further exploration
in order to develop a producing gold mine in the Fairbanks
Mining district are coming closer to reality.
Kinross Gold and Teryl Resources have expended a total of
$9.1 million, inclusive of the 2009 drilling program,
exploring the Gil deposit, which now includes Sourdough Ridge.
What may be more significant is the fact that Kinross Gold's
Fort Knox mine is nearing its life expectancy, which was
extended after Kinross was granted approval by the State
of Alaska to operate a heap leaching plant on the property.
Kinross is the only gold mining operation in Alaska to have
been permitted to operate a heap leach gold recovery program,
which is currently only permitted for the tailings.
Still, with Kinross' Fort Knox mine winding down, the Teryl
Resources claims are becoming more significant, a point even
Kinross' CEO Tye Burt has alluded to when he spoke at a
mining conference in Denver earlier this month.
In commenting on a dwindling supply of physical gold in the industry's long-term pipeline, Burt said, "We may be in the midst of a perfect storm in terms of price and industry dynamics. Globally production has been in decline since the peak of 81 million ounces in 2001 to 77 million ounces last year, and we see that decline continuing long term."
Burt isn't alone in that assessment.
The Motley Fool's Christopher Barker said in an October 1 story that he believes Kinross Gold is preparing to acquire properties (or gold mining companies) to increase its production pipeline, though Barker never mentioned Kinross' Fort Knox gold mine, instead speaking more broadly about major gold producers in general.
Teryl Resources President John Robertson said in a late afternoon telephone interview Tuesday that he was "very pleased with the drill results on the Sourdough Ridge prospect," while stating that Kinross had just been permitted to extend a road along the Sourdough Ridge exploration area, adding that further budget talks would have to wait. Kinross is set to release its third quarter results on November 2nd.
Teryl Resource's shares closed up 10.8% Tuesday on heavy volume, beating all of the 24-Toronto Exchange listed gold stocks that make up the S&P/TSX Gold Index by a wide margin.
Note to Editors: "News Features" are stories provided to publishers copyright-free for print or online display at no charge. All we ask is that publishers include our byline (AXcess News) as the source, or if online, link to our Web site: http://www.axcessnews.com. If you are interested in displaying our news on a regular basis please contact our editorial department at: 775-546-3377 or by email at: editor@axcessnews.com.
Contact:
AXcess News
Editorial Department
775-546-3377
Email Contact
NYBob
15 years ago
TERYL RESOURCES CORP. ANNOUNCES GRANT OF OPTIONS
For Immediate Release: April 22, 2009, Vancouver, BC – Teryl Resources Corp. (TSX Venture Exchange: TRC.V) is pleased to announce that it has granted incentive stock options to a director of the Company to purchase up to 50,000 common shares at a price of $0.10 per share, exercisable for a period of five years from the date of granting.
The granting and amendment of the options is subject to regulatory acceptance. Shareholder approval for the granting and exercise of incentive stock options, and disinterested shareholder approval for decreasing the exercise price of options, was obtained at the Company’s annual general meeting held on October 29, 2008.
ABOUT TERYL RESOURCES CORP.
With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX: K; NYSE: KGC) (80% Kinross/20% Teryl). The Company’s other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: LNXGF); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company’s website at http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“John Robertson”
John Robertson
President
Press Release contact information:
For further information, please contact:
John Robertson
President, Teryl Resources Corp.
T: 800-665-4616
www.terylresources.com
READER ADVISORY
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.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Teryl, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com, and the Company’s 20-F annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
News Release Index
NYBob
15 years ago
Teryl Resources Announces a US$1.6 Million 2009 Exploration Budget for the Gil Joint Venture Gold Claims, Fairbanks, Alaska
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2009) -
Teryl Resources Corp. -
(TSX VENTURE:TRC)(OTCBB:TRYLF) is pleased to announce a US$1,644,000 2009 budget has been approved by our joint venture partner Fairbanks Gold Mining, Inc. (FGMI), a subsidiary of Kinross Gold Corporation, on the Gil joint venture claims, as follows:
The 2009 Gil Project Exploration Program has three major goals:
1. Ground magnetometer survey concentrating on Sourdough Ridge.
2. Delineate mineralized zones and establish a resource base at Sourdough Ridge.
3. Expand resource at North Gil.
The goal of the 2009 program is to further delineate the strike extension of the mineralized zone, and to infill between step-out holes, in order to gain a better understanding of ore-zone continuity, and to establish a resource base. The 2009 work plan calls for ground geophysics, 10,000 feet of RC drilling, and 6,000 feet of HQ-NQ core drilling. Drillhole collar locations will be selected upon completion of the geophysical survey. In addition, samples will be collected for a preliminary column leach study.
The geophysical survey will begin in March 2009. The remainder of the program will begin in mid-April and will extend through the end of 2009. The bulk of the expenditures will be in 2Q and 3Q.
To date, a total of US$7,500,000 has been expended by the joint venture partners, with Teryl and Kinross accounting for 20% and 80% respectively of total expenditures.
ABOUT TERYL RESOURCES CORP.
With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX:K)(NYSE:KGC) (80% Kinross/20% Teryl). The Company's other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTCBB:LNXGF); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson, President
READER ADVISORY
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.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Teryl, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com, and the Company's 20-F annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
For more information, please contact
Teryl Resources Corp.
John Robertson
President
(604) 278-5996 or Toll Free: 1-800-665-4616
(604) 278-3409 (FAX)
Website: http://www.terylresources.com
pplatte9
16 years ago
Investor Interest Climbs on Teryl Resources’ Gold Hill News
By Paul Wallis
Teryl Resources Corp. (TRC.V: TSX) is a diversified explorer with interests in oil and gas as well as minerals. In a global mining bull market, companies, particularly on their lows, are often undervalued. The Teryl share price recently started acting like a seismograph in the first stages of registering a tremor on the TSX charts.
Teryl holds a wide range of properties and has major JV partnerships near major producing mines in Alaska, for example, but right now it’s the new property in Arizona that’s showing signs of changing the big picture in terms of assets and potential revenue. Teryl has seven patented claim blocks, totaling 248 acres, in the Warren Mining District, Cochise County, Arizona. The Gold Hill prospect includes the Old Gold Hill, Superior, and Baston mines. The company owns a 100% interest, subject to a 10% net profit interest for the vendors.
The Warren Mining District area was first opened up in the 1860s, and is Arizona’s iconic mining showpiece. The Phelps Dodge Corporation’s Lavender Pit mine, which is only a few miles from Teryl’s property, is one of the global all-time major copper producers, extracting 75 million tons of ore, which produced a billion dollars worth of copper, gold and silver in the process. The Bisbee area, where Teryl is drilling, has been in continuous commercial production for nearly a century.
Interestingly, the Lavender Pit has been reactivated for test drills following copper’s spectacular return to favor as a commodity. Teryl has apparently found the right commodity at the right time. Demand for copper is rising, with China’s insatiable production levels driving the trend and prices.
Teryl’s holdings contain a lot of old small scale works, including pits, cuts, placer digs, and small shafts. Work to date has identified strong indications of a gold/copper pattern of mineralization on the property.
Consensus of opinion at this stage is that the mineralization pattern is similar to proven deposits in Nevada’s Carlin Trend and Teryl’s neighbor Phelps Dodge’s Copper Queen deposit at Lavender Pit. The site is considered to have the potential to be a lode-type copper deposit. That fits with the pattern of mining in the area, where lode mineralization is well known.
(The phenomenon of similar regional deposits isn’t unusual in areas of high mineralization. Australia’s Broken Hill was producing new finds in the mid 20th century, long after the initial major discoveries in the 1880s and intensive searches.)
Teryl is backing that professional judgment, and on December 3 announced that it had begun drilling on three priority targets at the Bisso site on Gold Hill. The company is also in the process of acquiring a further 640 acres adjoining its Gold Hill interests. The expansion and consolidation of holdings is necessary to cover possible extensions of the deposits, and establish Teryl’s significant rights over the area.
The first natural issue for market consideration is financing. The company has a history of getting backing when it needs it. The TSX financing notices since 2002 read like a “How To Finance Your Operations Manual” for exploration miners. Teryl hasn’t had trouble finding backers for selective private placements. It says something for the credibility of the company that after a net loss of $465,000 for the year, the company made a placement for $407,000 in share warrants in August 2007.
More impressively, that private placement backing, which amounts to over CAD $4.3 million dollars in the last five years, is unswerving, despite the hard slog of exploration mining overheads. Teryl’s history indicates a pattern of holding assets, joint ventures, and carefully focused expenditure. Teryl’s CEO, John Robertson, has been running the company for 25 years, which explains the consistency of the company’s approach to business.
From the market’s perspective, the new finds, if realizing their early indications, constitute a potential significant positive change in net asset backing for Teryl’s shares. For the purposes of a formal valuation, Teryl is currently continuing its pattern of holding assets. The company has recently renewed its interest in its joint gold mining venture at Fish Creek until 2009, and retains its other Alaskan gold operations, indicating that the existing asset base is stable and functional.
There are strong potential upsides to the Gold Hill venture. The company has a lot of possible options for how it can develop the Gold Hill property into a revenue stream. Teryl’s joint venture approach, for example would be one possibility. Gold and copper are at historically good prices and commercial interest from the industry can be expected if the ore bodies live up to their promise.
This could be a seminal point in the company’s history. The potential for significant growth is clear. Teryl’s current moves are consistent with an expanding mode of operations. The company’s Gold Hill property will triple in size with the intended new acquisitions. That’s a fair testimony to the company’s degree of commitment in Gold Hill.
Teryl is also one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX: K; NYSE: KGC). Adjacent to the Gil Project are the Fish Creek Claims that are a JV with Linux Gold Corp. The company has a 100%-interest in the West Ridge property, also in Alaska. Teryl also has a 10% net profit interest from Kinross for the Stepovich Claims – next door to Fort Knox in Alaska – and a joint venture silver prospect located in Northern BC, Canada. Additionally, the company also earns revenues from oil and gas holdings in Texas and Kentucky.
au_digger
16 years ago
Teryl Resources Begins Drilling at Lavender Pit
with Sample assays of 2.54% Cu
By Jabulani Leffall
In the late nineteenth century Judge DeWitt Bisbee put up funds for the Copper Queen mine in Arizona and eventually got a city named after him.
Today Teryl Resources Corporation (TSX.V: TRC) Chief Executive John Robertson believes his latest hunches may be just as good.
But instead of a municipality bearing his surname, Robertson – encouraged by positive results from soil samples on Teryl’s Gold Hill property in Bisbee, Arizona – hopes merely to increase revenue and market capitalization for Teryl through further exploration.
It helps that Teryl is now mining in a stretch of desert foothills that once yielded approximately $1 billion in copper.
After a copper boom in the last half of the 20th century, Phelps Dodge Corporation discontinued mining operations 32 years ago in the Warren, Arizona-suburb of Bisbee around the famous Lavender Pit, where the Copper Queen became a mining icon.
The Lavender Pit is now little more than a tourist attraction, but Robertson says existing infrastructure along with excellent geophysical anomalies and geochemical copper values in the zone will go a long way. Just four miles southwest of the original site, Robertson thinks there is reason enough to feel confident about future prospects as Teryl drills its first hole starting in December and continuing in 2008.
Assays up to 2.54% copper were located on the Gold Hill proposed drill locations.
“It’s still a very hot area,” said Robertson. “When you talk about an area that yielded one of the richest copper deposits in history, it’s an exciting proposition to see what we can make of it along with our other holdings in gold and other minerals.”
British Columbia-based Teryl Resources spreads its risk considerably well through a JV project in silver mining in northern British Columbia, a formidable gold joint venture with Kinross in Alaska and modest revenue from oil and gas businesses in Texas and Kentucky.
For the foreseeable future, however, Gold Hill is where the firm will focus a good deal of attention as well as raising capital of about $1 million to unearth what it believes to be a large disseminating deposit of both copper and gold.
The Gold Hill Mine, which got its name from a modicum of gold extracted from sediment scattered throughout the area, includes nearly 249 acres on which there are about14 patented mining claims. There are even physical indicators for where miners might want to look, or have a shot at continuing to excavate, in the form Old Shallow placer diggings throughout the property as well as small shafts, pits and cuts.
Further, Teryl’s geologist believes the geological characteristics of Gold Hill to be similar or at least comparable to the Carlin Trend, just outside of Elko, Nevada. That gold mining district, which is 5 miles in width and stretches for more than 40 miles long, has produced more gold than the any other mining district in the United States. It also resembles the Witwatersrand System, a formation of sedimentary hills in South Africa comprised of quartz, shales and other mineral conglomerates, according to Teryl.
Diversified Holdings
While visions of tons of copper and other minerals that could come out of Gold Hill makes Bisbee, the “it,” property for Teryl right now, the company also sees golden opportunities through its four-site portfolio of advanced gold properties in Alaska’s Fairbanks Mining District, where Teryl is one of the principle landowners.
Its Gil project, on the eastern-most edge of the district in Fairbanks, is a JV with Kinross Gold Corporation (TSX:K; NYSE:KGC) where Teryl gets 20 percent to Kinross’ 80 percent. Just northwest of the Gil property are the Fish Creek Claims, where Teryl has optioned 50 percent optioned from Linux Gold Corp. (OTC BB:LNXGF). Rounding out the portfolio are Stepovich Claims, from which Teryl will get 10% in net profits from Kinross and the West Ridge property, which Teryl owns outright.
Between Gold Hill and the Alaska holdings, Robertson believes he has a good chance of a “pay-dirt” extraction from one of the many claims. With Gold poised to fetch as much as $1,000 per ounce and resource demands for copper and oil in India and China increasing, a good dig could pay dividends for Teryl.
Robertson and his management team believe that at the very least leveraging what it can from mining targets will garner attention from investors and at best will give Phillips Dodge or Kinross Gold the notion of either buying out claims or acquiring Teryl as a whole.
As junior resource concerns go, Teryl’s stock is in solid shape, seeing modest gains Since September and leveling off as the year comes to a close – now pushing a new price ceiling of twenty-five cents per share.
Shares of Teryl as of December 6 were trading at 21 cents per share, seven cents off a 52-week high of 18 cents but up by more than 30 percent from a 52-week low of 13 cents.
With about 40 million shares outstanding (fully diluted), Robertson says he would definitely like to see more liquidity pumped into the stock, with the price ideally getting up above a dollar.
“I’ll definitely be happy when I see a dollar-plus,” he said. “The thing about this business that you have to remember is that when you drill a hole and come up solid assays, your fortunes can change in a New York minute.”
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
NYBob
17 years ago
Teryl Resources Announces Drilling Contract Signed
for the Bisbee Gold Hill Prospect, Arizona
Tuesday October 9, 9:00 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Teryl Resources Corp.
(Pink Sheets:TRYLF - News; TSX VENTURE:TRC - News) is pleased
to announce that Diversified Drilling LLC has entered into an
agreement with the Company to drill a minimum of three (3)
holes on Teryl's Bisbee Gold Hill claims, on the Gold Hill
property high-grade copper surface targets.
Three drill locations were determined from assays of rock
samples collected on the properties, and based on aeromagnetic
interpretation and field examinations.
Assays up to 2.54% copper were located on the Gold Hill
proposed drill location.
The Gold Hill prospect is located 2.6 miles from
the Lavender Pit, which produced 75 million tons of copper,
gold and silver ore for Phelps Dodge Corporation.
ABOUT TERYL RESOURCES CORP.
Teryl Resources Corp. is one of the main landowners in
the Fairbanks Mining District, Alaska.
The Gil project is a joint venture (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX: K - News; NYSE: KGC - News). The Company's holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB:LNXGF - News), and the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross. The Company also has a 100%-interest in the West Ridge property.
Teryl Resources Corp. has an agreement on seven patented claim blocks, consisting of 248 acres, in the Warren Mining District, Cochise County, Arizona. The seven patented claim blocks are called the Gold Hill prospect, which includes the Old Gold Hill, Superior, and Baston mines. The Gold Hill copper, gold, and silver property is four miles west of the Copper Queen/Lavender Pit mine, one of the richest copper mines in history, owned by Phelps Dodge Corporation, which has produced 75 million tons of ore from 1954 to 1970.
Teryl Resources Corp. also has one joint venture silver prospect located in Northern BC, Canada.
Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at
http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson, President
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Forward-Looking Statements
Statements in this press release regarding Teryl's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Contact:
Teryl Resources Corp.
John Robertson, 800-665-4616
Source: Teryl Resources Corp.
http://investorshub.advfn.com/boards/board.asp?board_id=7074
NYBob
17 years ago
Teryl Resources Announces Drilling Program Recommended on
the Bisbee, Gold Hill Prospect, Arizona
Jul 16, 2007 9:00:00 AM
Copyright Business Wire 2007
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Teryl Resources Corp. -
(TSX VENTURE:TRC) announces that Thomas A. Parkhill, M.S.
Geologist, has recommended drilling 3 separate targets on
the Bisbee Gold Hill prospect.
The drill hole locations were determined from assays of
rock samples collected on the properties, and based on
aeromagnetic anomalies and field examinations.
Assays up to 2.54% copper were located on -
the Gold Hill proposed drill location.
The Gold Hill prospect is located 2.6 miles from
the Lavender Pit, which produced 75 million tons of copper,
gold and silver ore for Phelps Dodge Corporation.
A drilling contract is currently being negotiated.
About Teryl Resources Corp.
Teryl Resources Corp. -
is one of the main landowners in
the Fairbanks Mining District, Alaska.
The Gil project is a joint venture (80% Kinross/20% Teryl)
with Kinross Gold Corporation (TSX: K; NYSE: KGC).
The Company's holdings also include the Fish Creek Claims,
50% optioned from Linux Gold Corp.
(OTC BB: LNXGF), and
the Stepovich Claims,
where Teryl has a 10% net profit interest from Kinross.
The Company also has a 100%-interest in -
the West Ridge property.
Teryl Resources Corp.
has an agreement on seven patented claim blocks,
consisting of 248 acres, in the Warren Mining District,
Cochise County, Arizona.
The seven patented claim blocks are called
the Gold Hill prospect,
which includes the Old Gold Hill, Superior,
and Baston mines.
The Gold Hill copper, gold, and silver property
is four miles west of
the Copper Queen/Lavender Pit mine,
one of the richest copper mines in history,
owned by Phelps Dodge Corporation,
which has produced 75 million tons of ore
from 1954 to 1970.
Teryl Resources Corp.
also has one joint venture silver prospect
located in Northern BC, Canada.
Teryl Resources Corp.
has revenue from oil and gas projects in Texas and Kentucky.
For further information,
visit the Company's website at
http://www.terylresources.com
http://investorshub.advfn.com/boards/board.asp?board_id=7074
NYBob
18 years ago
ABOUT TERYL RESOURCES CORP. -
Teryl Resources Corp.
is one of the main landowners in
the Fairbanks Mining District, Alaska.
The Gil project is a joint venture
(80% Kinross/20% Teryl)
with Kinross Gold Corporation (TSX:K) (NYSE:KGC).
The Company's holdings also include
the Fish Creek Claims,
50% optioned from Linux Gold Corp.
(OTCBB:LNXGF), and
the Stepovich Claims,
where Teryl
has a 10% net profit interest from Kinross.
The Company also has a 100%-interest in
the West Ridge property.
Teryl Resources Corp. has an option agreement on seven patented claim blocks, consisting of 248 acres, in
the Warren Mining District, Cochise County, Arizona.
The seven patented claim blocks are called
the Gold Hill prospect,
which includes the Old Gold Hill,
Superior, and Baston mines.
The Gold Hill -
copper, gold, and silver property is four miles west
of the Copper Queen/Lavender Pit mine,
one of the richest copper mines in history,
owned by Phelps Dodge Corporation,
which has produced 75 million tons of ore
from 1954 to 1970.
Teryl Resources Corp.
also has one joint venture silver prospect located
in Northern BC, Canada.
Teryl Resources Corp.
has revenue from oil and gas projects
in Texas and Kentucky, and will continue to drill
additional gas wells in Kentucky.
For further information visit the Company's website at -
http://www.terylresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson
President
Sentiment : Strong Buy
http://www.investorshub.com/boards/board.asp?board_id=7074
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
