Teras Resources - Gold Investing News

Overview

Teras Resources Inc (TSXV:TRA, OTCQC:TRARF)is a Canadian mineral exploration and development company headquartered in Calgary, Alberta. The company?s mission statement is to increase shareholder value by exploring and developing substantive gold and base metal resources and bringing them into production in an accelerated time frame. Its flagship property, the Cahuilla Gold Project 2012 drilling and development program is nearly complete, and expects to file a NI 43-101 compliant resource on SEDAR by year?s end.

Investment Highlights

• $2 Million cash in bank to advance Cahuilla Gold Project in 2013
• Has received required Permits for 420 drill holes, 174 completed
• Every new drill hole completed by Teras has encountered significant Gold/Silver mineralization
• A proven technical team with regional area expertise
• Project has NI 43-101 compliant resource estimate of 1 million + ounces of Gold and 11 million + ounces of ?Silver in December 2012

Cahuilla Gold Property

The Cahuilla gold property is located in northwest Imperial County, California, approximately two miles west of the community of Salton Sea Beach and 30 miles south of the city of Indio, and was acquired by Teras Resources in 2010. The project encompasses an area of at least three km by 1.5 km and demonstrates the potential for a large-scale, bulk mining open pit and underground operation consisting of altered and mineralized sedimentary and volcanic host rocks with numerous sheeted high-grade quartz veins.?Grades of the Cahuilla gold/silver mineralization are similar to grades of the host rocks (o.56 g/t) at New Gold?s Mesquite Mine, also in Imperial County, California.

Gold Drill Intercepts

?

Historically, gold was produced from numerous mines in the vicinity of Cahuilla beginning in 1897, with prospecting and mining originating in the Cahuilla project area as early as 1912. Since the late 1980?s, an estimated $5 million dollars has been spent on gold exploration in the Cahuilla area, with work performed by industry luminaries that included: Homestake, Newmont and Kennecott. A total of 112,168 feet of drilling in 214 RC and core holes have been completed on the Cahuilla property in four drill campaigns.

In 1991-92 a total of 57 holes were drilled on sovereign lands, which resulted in a major gold discovery. In 1994, Kennecott successfully obtained exploration and mining rights to the Cahuilla gold property. They also were successful in consolidating the land positions of Newmont and Homestake, and drilled a further 114 drill holes to extend the mineralized zone.

Schematic of Vein System?

?

In 1995, Southwest Exploration, through an agreement with Kennecott, mined approximately 4,500 tons of material at an average grade of 0.30 to 0.40 oz/ton gold from High Grade Hill, and sold the ore as high silica smelter flux to a ?smelter in Texas, and obtained a significant profit from the associated gold and silver credits.

In 1996, Kennecott engaged Nevada based Mine Development Associates (MDA) to perform an independent resource estimate on the project. Calculations based on a 0.010 ounce per ton gold cut-off-grade indicate that the Cahuilla deposit currently contains an indicated mineral resource of approximately 750,100 ounces of gold mineralization, and an inferred mineral resource of approximately 106,000 ounces of gold mineralization.

Central Canyon Area

?

With the significant historic databases to work from, it was Teras Resources intention to extend mineralized resources by additional exploration and development drilling. To this end, in 2012 they embarked on an aggressive drill campaign with two drill crews working almost year round. Mineralization has been found to be completely open in all directions along strike and at depth.

Summary

Teras Resources? Cahuilla Gold Project has a substantial historic resource estimate of 856,000 ounces. Over the years several major mining companies have done significant exploration and development drilling; a total of 380 drill holes have been completed to date. The company is nearing completion of an aggressive 2012 drill program, and mineralization appears to be open-ended and extends in all directions. The company has a strong exploration and development team with substantial regional expertise, and will file a NI 43-101 compliant resource estimate on SEDAR by the end of 2012. Exploration and development drilling is expected to continue throughout 2013.

Management

Peter Leger ? President, Director

Mr. Leger brings to Teras over twenty-five years of building successful businesses and the experience he has gained through the use of creative strategies and sound practices. He demonstrates leadership through patience matched with an abundant level of enthusiasm and energy. Throughout his career he has been called upon to raise millions of dollars of equity and debt, and has built companies to the position to take them public. Mr. Leger has held the position of Vice President and Director of Radar Acquisitions Corp., now known as CanAm Coal. He is also a founder and director of TIEX a publicly traded company as well a founder of Vindt Resources Inc. which amalgamated with Shear Wind Inc. a publicly traded company. All of the public companies above are listed on the TSX-Venture exchange.

Kuldip Baid ? CFO

Mr. Baid C.A., brings with him over thirty years of experience in all aspects of accounting. Mr. Baid graduated from the University of Alberta in 1976 with a B. Comm (with distinction, Dean?s list). Mr. Baid is a C.A. and has been a member of the Canadian Institute of Chartered Accountants since 1979. He has held many long-term positions with companies such as: KIK Polymers Inc., Vice President, Finance and Administration; Turbo Resources Limited, Manager, Taxation and Government Reporting, Manager, Financial Reporting, Controller, Real Estate Division; Carma Developers Ltd. Manager of Accounting; Oxford Development Group Ltd, Financial Analyst and Deloitte & Touche, Senior Accountant.

Dennis LaPoint ? Director

Dr. LaPoint has over thirty years experience in mining exploration. Dr. LaPoint has worked for a variety of companies including Texasgulf, Cominco and Cambior Inc. (IAMgold). Dr. LaPoint is President and owner of Appalachian Resources, LLC where he provides project management and geologic services to the mineral industry and investors. Dr. LaPoint graduated from the University of Iowa in 1968 with a degree in geology. Dr. LaPoint continued his education earning a Masters of Science Degree from the University of Montana in 1971 and a PhD in geology in 1979 from the University of Colorado.

Dr. LaPoint is a member of a number of professional organizations and is a registered Geologist in North Carolina, South Carolina and Tennessee. He was appointed by the Governor of North Carolina to the Licensing Board for Geologists. He is Past President of the Carolina Geological Society and has been active in the Society of Exploration Geologists and Society of Mining Engineers. He is an Adjunct Professor at the University of North Carolina and previously at Elon University.

John Batiuk, B.Sc, Director

Mr. Batiuk brings with him more than thirty years of business experience in the field of Project Manager and Senior Analyst. Mr. Batiuk is a successful professional with many years experience of the complete life-cycle of project management, process design, business planning, problem solving, selling and marketing, and has a proven track record demonstrating his ability to create and deliver real value for organizations. With extensive experience across a wide variety of industries, Mr. Batiuk has a solid understanding of cross-functional business needs with the skills to manage and lead diverse teams.

Mr. Batiuk graduated in 1978 from the University of Toronto and holds a B.Sc., with specialties in Geology and Chemistry. He has also completed an Executive Program in Marketing Management from the University of Western Ontario in 1988. Mr. Batiuk started out working in the geology department of an open-pit mine that produced zinc, copper, lead, silver and gold. He has conducted drill site sampling, assay logging, diamond drill core handling, 3-D modeling, and a variety of field work assignments. Since 1977 until present Mr. Batiuk has held extensive positions and long term contracts with companies such as Precision Drilling Ltd., Ensign Energy Services Inc., Apple Computer (Canada), Telus Mobility Inc., Campbell Soup Company Ltd., FTP Software of Canada, SAP and i2 Technologies, Inc. In addition to his project management expertise, Mr. Batiuk has also been called upon for his experience as a marketing, business planning, and customer support analyst.

Thomas (Toby) Mancuso ? M.Sc, Geology ? Vice President of Project Development

Mr. Mancuso is a well-respected development geologist and has more than thirty years of experience in exploration, operations and management of various mining companies. Mr. Mancuso has held the positions of President and CEO of Western Goldfields, Inc., Senior Geologist for Freeport McMoRan Gold Company and Chief Geologist for Kennecott Corporation where he specialized in advancing projects from exploration to production, including the mine planning, start-up and supervision of the Rawhide Mine in Fallon, Nevada and Flambeau Mine in Ladysmith, Wisconsin. Mr. Mancuso was involved in the start-up and development of more than four mining operations. He received his Master of Science in Geology from the Idaho School of Mines at the University of Idaho.

Mr. Mancuso?s most recent success was the purchase of the operating Mesquite Mine, which is located in Imperial County, California, from Newmont Mining Corporation in 2003. The Mesquite mine was purchased by Western Goldfields, Inc., a U.S. public company founded by Mr. Mancuso in 2002. Western Goldfields further developed the Mesquite mine, which was placed into full production in 2008. Western Goldfields was then purchased by New Gold Inc. in June 2009. The Mesquite mine is in full production today and expected to produce approximately 150,000 ounces of gold in 2010.

Source: http://goldinvestingnews.com/29916/teras-resources-gold-stock-news-peter-leger.html

leon russell meredith vieira prop 8 maria menounos proposition 8 ricky martin larry bird