A total of 1,348 m (4,422′) of core and 2,932 m (9,620′) of reverse circulation drilling have been completed during this initial phase, which is comprised of four deeper, pre-collared diamond drill and eleven reverse circulation holes.
Both the core and reverse circulation drill chips are currently at the lab being assayed. In our press release dated October 9th, 2013, we indicated that assay results would become available by the 23rd of October. However, due to unforeseen circumstances at the lab, the results have been delayed. We now anticipate the assay results from core hole CAH-303 to be received later this week and results from the remaining diamond drill holes CAH-304, CAH-305 and CAH-311 to follow in a timely fashion.
In order to ensure that our results are processed judiciously, Teras is now working very closely with the laboratory staff to expedite the assay process. This includes the implementation of double shifts for the exclusive purpose of preparing and analyzing Teras’ core samples as promptly as possible while maintaining superior quality control. We wish to thank all of our shareholders for their patience and understanding during a period that has been trying and exasperating for everyone.
Mr. Paul Stubbe, Project Geologist and Manager, is currently conducting detailed geologic logging of the core and once all the assay results have been received, the Teras technical team will reconvene to analyze and evaluate all of the reverse circulation and most importantly, the deep core assay results along with our recently generated detailed geological and geophysical data. The primary focus of the comprehensive evaluation process is to fine-tune the selection of additional deeper high-grade targets for continued exploration of the feeder veins or source of this extensive gold/silver precious metal epithermal system.
Dale A Vitone P. Eng., registered with the Association of Professional Engineers of Ontario, Alberta and Northwest Territories and a Director of Teras, is the Company’s nominated qualified person responsible for monitoring the supervision and quality control of the programs completed on the Company’s properties. Mr. Vitone has reviewed and verified the technical information contained in this news release.
