Teras Resources Inc. (TSXV:TRA) announced that the first deep hole drilled as part of the reverse-circulation and diamond drill program at its California-based Cahuilla project has been completed to a depth of 536 meters and has intersected a deeper zone of strongly altered and veined rock from 390 meters to 427 meters.
As quoted in the press release:
CAH-303 intersected strongly silicified and veined fanglomerate from 0 to 213m (0 – 700′) as describe in the September 17, 2013 press release. The fanglomerate then becomes variably altered below 213m with the intensity of alteration decreasing to 337m (1,105). At 337m, a very fine grained gray to black claystone was intersected to a depth of 390m (1,280′). At that point, the drillers notified the site geologist that the diamond drill had encountered very hard rock and the drill rate had decreased significantly. It was then discovered that a very strongly silicified and brecciated fanglomerate hosting various episodes of quartz veining was encountered.
This new discovery is very encouraging because strongly altered rock characterizing the Cahuilla epithermal system has never been encountered at these depths suggesting the hydrothermal system may be far more extensive than previously known.
Peter Leger, president and CEO of Teras, commented:
We are especially pleased with the discovery of the deeper, strongly silicified and veined fanglomerate far below the depths of any previous drilling. This significantly increases our confidence that the epithermal system continues at depth and deep high grade feeder zones may very likely occur at Cahuilla. The Company is looking forward to receiving assay results from CAH-303 once the core has been properly logged and prepared for analysis.