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MINING NEWS: Teryl Resources plans drilling at West Ridge British Columbia company looks to property near True North mine, magnetic survey results extend mineralized area Patricia Jones Mining News Editor
Vancouver, B.C.-based Teryl Resources plans to drill up to 15 reverse circulation holes on its West Ridge gold exploration property, located just south of the True North mine, about 10 miles west of the Fort Knox in Interior Alaska.
In a Feb. 9 press release, the junior exploration company said it submitted an amendment to its existing exploration permit with the Alaska Division of Mining, Land and Water Management requesting permission to drill targets on West Ridge.
Teryl expects to receive approval before the end of February, and a drilling contract has been awarded to begin immediately after permit approval, the company statement said.
Teryl holds a 100 percent interest in the claim block, located between the Elliott and the Steese Highways, about 22 miles northeast of Fairbanks. Two mineralized zones have been identified on the property by prior soil sampling.
A portion of the exploration block — 440 acres — is leased from the state of Alaska Mental Health Trust Fund. Magnetic survey conducted Jan. 26 The winter drilling is the next step in the exploration process at West Ridge, which will follow a magnetic survey conducted Jan.26 on the property. That survey work extended to the south earlier magnetic work based on trenching and soil sampling completed on the property last fall.
The latest magnetic survey work was designed to define the southern limits of the intrusive-hosted schist rock mineralization.
Curt Freeman, owner of Avalon Development and Teryl’s consultant on the property, said the ground magnetic survey “extends the target area at least 700 feet south of the end of the trench and it corresponds with the high gold in soils discovered by last year’s soil auger drill program.” Trenching and soil sampling results Teryl conducted backhoe trenching at West Ridge late in 2003. Significant results showed 15 meters grading 596 parts per billion of gold, with one meter intervals that produced grades of to 2.86 grams of gold per ton of rock.
The mineralization is located within a 100 by 150 meter anomaly, defined by soil sampling completed in mid 2003.
In addition to the West Ridge property, Teryl holds a 20 percent interest in the Gil property, which is operated by Kinross Gold. Other Interior Alaska properties include the Fish Creek property, located to the northwest of Gil, which Teryl holds a 50 percent interest in.
The company also has a 10 percent interest in the Stepovich property, located just southwest of the Fort Knox gold deposit. All four Teryl properties surround the Fort Knox mine and mill facilities, owned and operated by Kinross Gold.
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