Teras Resources Inc. (TSXV:TRA,OTCQX:TRARF) announced that it has made progress on CAH-304, the second deep diamond drill hole at its California-based Cahuilla gold-silver project. It targeted the hole “to test a substantial geophysical anomaly along a major mineralized fault structure.”
As quoted in the press release:
The original plan for CAH-304 was to pre-collar the hole to approximately 305m (1,000′) and then continue with the diamond drill. However, the reverse circulation drill intersected very strongly silicified and veined fanglomerate beginning at 61.0m (200′) which became exceedingly hard and broken at 176.8m (580′). CAH-304 is located in an area where many historic drill holes were lost in highly faulted, silicified and strongly mineralized ground at approximately this same depth. As a result, the Company determined that the hole should be cased and diamond drilling initiated at 176.8m to obtain better quality samples and more precise geologic data in this relatively untested area at depth.
Peter Leger, president and CEO of Teras, commented:
Our Cahuilla technical team is especially excited about the exceptionally long intercept of very strongly altered and veined fanglomerate in CAH-304 that persists to a much greater depth than previously known. This type of alteration commonly hosts high grade precious metal mineralization and we are again looking forward to the assay results, which may conceivably result in significant increases in our gold/silver resources. We are planning to core drill CAH-304 to a depth of 610m (2,000′) hoping to encounter silicified and veined rock at the depths we observed in CAH-303 to further enlarge this already extensive, precious metal-rich epithermal system.