Teryl Resources Announces Drilling Commences on Joint Venture Gil Gold Project, Fairbanks Mining District.Business Editors FAIRBANKS, Alaska--(BUSINESS WIRE)--April 24, 2003 Teryl Resources Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:TRC TRC Noun (in South Africa) Truth and Reconciliation Commission: a commission which encourages people who committed human rights abuses or acts of terror during the apartheid era to reveal the truth about their crimes in return for immunity from prosecution .V) (PINK SHEETS:TRYLF) wishes to announce that the Company has been notified by its joint venture partner Kinross Gold Kinross Gold Corporation (TSX: K, NYSE: KGC) is a Canadian gold mining company. It is the seventh largest primary gold producer in the world.[1] See also
1. ^ Kinross Gold. Corporation that the first phase exploration program, budgeted at US$830,000, has commenced on the joint venture Gil project. A second phase of exploration drilling in 2003 is estimated to cost US$590,000, for a total of US$1,420,000. Approximately 60 holes will be drilled in the first phase for 17,000 feet of core and R/C R/C Radio Control R/C Reinforced Concrete R/C Rate of Climb drilling, and 74 holes will be drilled for a total of 22,000 feet in the second phase. The 2002 drill program on the Gil joint venture tested portions of the North Gil and Main Gil deposits and the Sourdough Ridge anomaly on Teryl's joint venture land. Several notable drill holes came from this 2002 drill program: -- North Gil encountered 15 feet of 0.095 ounces per ton at a depth of 65 feet from the surface. -- At Sourdough Ridge a hole intersected 15 feet of 0.49 ounces of gold per ton at a depth of 95 feet. -- An isolated drill hole on All Gold Creek located on the western end of the new scarn zone encountered a 15 foot interval of 0.228 ounces of gold per ton at a depth of 265 feet. The 2003 drill program is designed to upgrade the currently defined resources and expand the mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at the Main Gil and the North Gil zones, as well as extend those mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones to the east and the northeast. In addition, the program seeks to establish the presence of substantial mineralization at the Sourdough Ridge and scarn grid targets. 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 (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX: K; NYSE NYSE See: New York Stock Exchange : KGC KGC Knights of the Golden Circle KGC Kids get Care KGC Kingscote, South Australia, Australia (Airport Code) KGC Known Good Cable ). The Company's holdings also include the West Ridge Claims (100% owned), the Fish Creek Claims, 50% optioned from Linux Gold Corp. (LNXGF), and the Stepovich Claims, which Teryl has a 10% net profit interest from Kinross. Teryl Resources Corp. also has one joint venture silver prospect located in Northern BC, Canada and an interest in diamond prospects in the Northwest Territories, Canada. 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 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved of the information contained herein. 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. |
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