SAN FRANCISCO, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK), a gold royalty company with a portfolio centered on the Spring Valley Gold Project in Nevada, has reported that Waterton Global Resource Management, the project's owner/operator, is drilling on the property. The company first reported the drilling on October 31, and followed up on November 13 with more details.
Company mentioned: Terraco Gold Corp.
The royalty company noted that Waterton is drilling as many as 30 holes on land where Terraco holds up to a 3% NSR royalty. Most of the drilling is in a grid pattern. "The drill grid pattern is at the southern end of Spring Valley and covers part of a high-grade gold section of the resource. The drill grid also appears to test the west and southwest extension of this targeted high-grade area," Terraco reported.
The grid is just south of an area where Barrick Gold and Midway Gold reported in 2013 a drill intercept of 361 meters of 1.47 grams per tonne (g/t) gold, including 23m of 3.02 g/t gold and 21m of 7.54 g/t gold.
Todd Hilditch, president and CEO of Terraco, commented, "We believe that Waterton is now moving Spring Valley forward on the same track that Barrick had been on as operator of the Spring Valley joint venture prior to its sale in late 2015. Based on the number of 30 spotted holes and an assumed drill depth in line with previous Spring Valley drilling, this program is a further multi-million-dollar financial commitment of Waterton."
Continue reading this article: Private Equity-Firm Resumes Drilling at High-Grade Nevada Gold Project
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