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Teryl Resources And Minewest Silver And Gold Announce Extension Submitted On The Exploration Permit For The Silverknife Claims

Stocks in this article: TRCTRYLF

VANCOUVER, British Columbia, March 22, 2012 /PRNewswire/ -- Teryl Resources Corp. (TSX Venture Exchange: TRC.V), (OTCBB: TRYLF) and Minewest Silver and Gold wish to announce that a one year extension has been submitted to the Ministry of Energy and Mines located in Smithers, BC.  The original permit was granted on June 21, 2011, and Teryl intends to drill the Project in summer 2012.

The 43-101 report completed by Paul D. Gray  P.Geo., recommends $360,000 work program consisting of the following:

Phase 1:

  1. Phase IA:  Systematic and Detailed Silverknife Camp Data Compilation and Digitization
  2. Phase IB:  Core Recovery Program
  3. Phase IC:  Ground Based Survey/Prospecting/Geological Survey Program
  4. Phase ID:  Detailed Geophysical Survey
  5. Phase IE:  Diamond Drilling of Discovery Zone
  6. Phase IE:  Technical Report Update

In 1983, the Silverknife Property was staked and from 1984-1988 Reg Resources Corp. and Chevron Minerals Inc. conducted a staged series of mineral exploration programs. Geochemistry and geophysics were the primary exploration tools applied to Property in the first phases of exploration from 1983-1985. A 1985, 30 hole diamond drill program was then completed targeting the geochemical and geophysical anomalies outlined from the initial programs.  Based on this first phase drilling, a "Discovery Zone" of silver-zinc-lead mineralization was uncovered, including the following intersections:

  • Hole 85-4: 7.25m of 5.04oz/t Ag, 2.65% Pb and 3.09% Zn
  • Hole 85-6: 0.2m of 4.43oz/t Ag, 1.9% Pb and 3.42% Zn
  • Hole 85-21: 4.3 m of 29.02oz/t Ag, 10.14% Pb and 7.02% Zn

20 additional holes were collared from 1986-1987, the bulk of which were focused on defining and expanding the "Discovery Zone" mineralization on the Property. The 1987 drilling included the following mineralized intersections:

  • Hole 87-35: 18.02 m of 4.17 oz/t Ag, 1.67% Pb and 3.02% Zn
  • Hole 87-38: 9.99 m of 5.36 oz/t Ag, 1.73% Pb and 3.15% Zn
  • Hole 87-39: 4.63 m of 3.18 oz/t Ag, 4.60% Pb and 3.97% Zn
  • Hole 87-40: 5.94 m of 6.20 oz/t Ag, 3.47% Pb and 3.65% Zn
  • Hole 87-43: 8.00 m of 2.05 oz/t Ag, 1.59% Pb and 4.85% Zn
  • Hole 87-44: 3.66 m of 7.52 oz/t Ag, 6.21% Pb and 4.78% Zn

THE SILVERKNIFE PROPERTY

The Silverknife Property lies in a well mineralized and historically and currently important precious and base metals exploration intensive region. The Silverknife Property hosts a known historic prospect (the Silverknife Prospect) with defined Ag-Pb-Zn mineralization within only two (2) km of Silvercorp's active Silvertip Ag-Pb-Zn deposit. The Silverknife Property represents a prospective target for precious and base metals mineralization genetically related to the Silvertip deposit.

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