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Teryl Resources, TRC.V/TRYLF, Profile
Teryl Resources | TRC.V/TRYLF | Profile
Teryl Resources Corp., - TRC.V / TRYLF – has several gold prospects near the Kinross Gold Corp's Fort Knox Mine in Alaska, a silver/lead/zinc prospect adjacent to Silvercorp's (SVM) mine in British Columbia, and Oil & Gas wells in Texas.
Teryl has a 10% net profit interest in the Stepovich claims. A 100% interest in the Westridge property and a 50% interest in 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., a wholly owned subsidiary of Kinross Gold Corp. (KCG), for $15 million dollars plus a ½ 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 also has three producing oil and gas wells in Texas, these wells are operated by Anadarko Petroleum.
Fish Creek property
Teryl Resources has commenced a placer and hard rock diamond drilling program on the Fish Creek property in the Fairbanks, Alaska mining district.
Teryl's consulting geologist, Paul D. Gray, P.Geo. will oversee the drilling program, core logging , and assay protocols on behalf of the Company. The operator of the drill will be Kenn Roberts of Texas, and Pete Rutledge, project manager.
Kenn Roberts, a First Nations from Yukon has multiple years of drilling experience in remote locations and has served as mineral development advisor to First Nations.
Teryl owns a 50% interest in the Fish Creek property, Keltic Bryce owns a 50% working interest and Linux Gold Corp. (LNXGF) retains a 5% royalty interest in Teryl's interest.
The Fish Creek property consists of 30 claims adjacent to the Gil property, currently owned by Kinross Gold Corporation. The Gil 20% interest, previously owned by Teryl Resources Corp., was acquired by Kinross for $15 million dollars.
Westridge Property
A geological report on the Westridge gold property has been prepared by David Adams, B.S., M.S., CPG. Teryl has appointed Pete Rutledge, Geologist, as an independent contractor to evaluate the Westridge property.
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.
SILVERKNIFE PROPERTY OWNERSHIP:
» Teryl Resources Corp. owns 30% working
interest and has a 10% Net Profit Interest
(“NPI”)
» Minewest Silver & Gold owns 70% subject to
the 10% NPI held by Teryl
The Silverknife Property
(Mineral Claims consisting of 1,594 Acres)
A proposed Phase I exploration program consisting of a desk study followed by a series of on-the-ground Property boundary and drill collar location surveys, followed by geophysics and diamond drilling with a
recommended budget of $358,700 is recommended for the Silverknife Property.
The exploration programs (and budgets), presented herein, are designed to identify the accurate location of the mineral titles
boundary with respect to historic drill collars and test the Silverknife Property’s precious and base metal mineral potential and will yield enough information to guide Minewest and Teryl subsequent mineral
exploration programs on the Property. Samples have been collected to confirm the assay results, however, due to the inclement weather conditions, the Phase I exploration program has been delayed.
Sources: Teryl Resources Corp., Kinross Gold Corp., Linux Gold Corp., SilverCorp.
Forward-looking statements:- 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.
This profile/research report/email letter/blog/posting in forums/social-media/t/f 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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