|By Marketwired .||
|June 10, 2014 05:17 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/10/14 -- Terraco Gold Corp. ("Terraco" or the "Company") (TSX VENTURE: TEN) is pleased to announce a Humboldt Range update including activity on its Spring Valley Assets.
Terraco Humboldt Range Background
Terraco holds net smelter return ("NSR") royalty assets of up to 3% on claims covering the vast majority of the currently outlined Spring Valley gold deposit. The Spring Valley gold project is operated by Barrick Gold Corp. ("Barrick") and is a joint venture with Midway Gold Corp. ("Midway") whereby Barrick is the 70% partner. Terraco's royalty assets include direct NSR ownership, options to purchase NSR royalties and a right of first refusal to purchase a 1.0% NSR on an area of interest within a half-mile of the core claim block. Terraco's holds its Spring Valley royalty assets and its northerly adjoining 35 km2 Moonlight exploration project land holdings within one Nevada domiciled subsidiary (collectively, the "Spring Valley Assets").
Spring Valley Activity - Barrick
Activity on the Spring Valley gold project is continuing aggressively with Barrick advancing the project to a pre-feasibility stage and confirming production potential for the project (see Barrick's April 30, 2014 announcement Barrick Reports First Quarter 2014 Results(1) and Midway's May 16, 2014 announcement, Midway Reports Barrick Advances to Pre-Feasibility Spring Valley Gold Project, Nevada(2)). In addition, Midway announced that it had received Barrick's 2014 budget regarding the Spring Valley gold project and that it included USD$8,300,000 for project development and USD$5,000,000 for exploration work. The total budget of USD$13,300,000 announced was to advance the project (see Midway's announcement May 16, 2014, Midway Announces Barrick's $13.3 Million Planned 2014 Expenditures for Spring Valley, Nevada(2)).
Southern Humboldt Range New Entrant - Sumitomo
Regional Southern Humboldt Range activity, in addition to the above noted Spring Valley developments, includes a new entrant along trend adjoining Terraco's Moonlight Project to the North. Renaissance Gold Inc. ("Renaissance") has signed an exploration agreement with Sumitomo Corporation's U.S. subsidiary, Summit Mining Exploration II, Inc., to earn up to a 70% interest in the Fourth of July project that is along strike (to the north) from the Rochester Mine, Barrick's Spring Valley and Terraco's Moonlight Project. Terraco's Moonlight Project now sits between two major mining companies in Barrick and Sumitomo.
"With the completion of Barrick's USD$38,000,000 earn-in on the Spring Valley gold project (in February 2014) and the subsequent announcements made by Midway that Barrick has moved to prefeasibility and is spending USD$13,300,000 in 2014 on the project, we are feeling confident that the Spring Valley gold project will become the mine we had hoped for when we acquired our Spring Valley royalty assets. In addition, there is more activity district wide in the Southern Humboldt trend with other majors like Sumitomo coming into the mix," said President and CEO Todd Hilditch.
For a description of Terraco's Spring Valley Assets, including a narrated video presentation and a royalty map of Spring Valley deposit, please follow the below link to our website, further to the Spring Valley Asset Presentation (bottom right of Home Page): www.terracogold.com.
More information on the Spring Valley project can be accessed through Sedar (further to Midway Gold) or Midway's website.
Shareholders and investors that currently receive news releases or corporate updates from Terraco will be receiving a direct email within a week whereby your consent to receive future Company news releases and updates will be required. In keeping up with Canada's new anti-spam law, which comes into effect on July 1, 2014, Terraco is required to request and receive your consent prior to sending news releases and corporate updates. Your action to our email request is required on or before July 1, 2014.
The Company also announces the grant of an aggregate total of 5,051,000 incentive stock options to directors, officers, employees and consultants of Terraco pursuant to its Stock Option Plan with certain vesting provisions. These options will be exercisable at a price of CAN$0.16 per share and will expire on June 9, 2019. The grant of the incentive stock options is subject to regulatory approval.
About Terraco Gold
Terraco is a junior mining company with a gold project portfolio that includes a gold royalty and royalty options on the Spring Valley Project (Nevada), which is a joint venture among the world's largest gold producer, Barrick Gold Corp., and Midway Gold Corp. Terraco also controls over 35 sq kms of early-stage exploration potential (the Moonlight Project) adjoining the Spring Valley Project joint venture to the north. In addition, Terraco has an advanced-stage gold project in Idaho which hosts a National Instrument 43-101 compliant gold resource.
Terraco is listed on the TSX Venture Exchange under the symbol "TEN". Please visit Terraco's website at www.terracogold.com for additional information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward looking statements. Although Terraco believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Terraco can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Additional information on these and other factors that could affect Terraco's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com)
Terraco Gold Corp.
President and CEO
(604) 443-3831 or Toll free: 1 877 792-6688 Ext 2
(604) 682-3860 (FAX)
Sonus Networks introduced the Sonus WebRTC Services Solution, a virtualized Web Real-Time Communications (WebRTC) offer, purpose-built for the Cloud. The WebRTC Services Solution provides signaling from WebRTC-to-WebRTC applications and interworking from WebRTC-to-Session Initiation Protocol (SIP), delivering advanced real-time communications capabilities on mobile applications and on websites, which are accessible via a browser.
Apr. 28, 2015 02:15 AM EDT Reads: 2,004
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
Apr. 28, 2015 01:45 AM EDT Reads: 2,334
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Apr. 28, 2015 01:30 AM EDT Reads: 5,051
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubN...
Apr. 28, 2015 01:00 AM EDT Reads: 3,883
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
Apr. 28, 2015 12:30 AM EDT Reads: 1,767
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
Apr. 28, 2015 12:00 AM EDT Reads: 4,665
SYS-CON Events announced today that Blue Box has been named “Bronze Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Blue Box delivers Private Cloud as a Service (PCaaS) to a worldwide customer base. Built on a technology platform leveraging decades of operational expertise in cloud and distributed systems, Blue Box Cloud is a managed private cloud product available in both hosted and on-prem versions. Each Blue Box ...
Apr. 28, 2015 12:00 AM EDT Reads: 1,154
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
Apr. 27, 2015 11:00 PM EDT
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applica...
Apr. 27, 2015 09:00 PM EDT
SYS-CON Events announced today that Soha will exhibit at SYS-CON's DevOps Summit New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Soha delivers enterprise-grade application security, on any device, as agile as the cloud. This turnkey, cloud-based service enables customers to solve secure application access and delivery challenges that traditional or virtualized network solutions cannot solve because they are too expensive, inflexible and operational...
Apr. 27, 2015 07:45 PM EDT Reads: 1,706
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 27, 2015 06:00 PM EDT Reads: 4,492
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
Apr. 27, 2015 05:30 PM EDT Reads: 1,667
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will mee...
Apr. 27, 2015 04:00 PM EDT Reads: 1,934
The best mobile applications are augmented by dedicated servers, the Internet and Cloud services. Mobile developers should focus on one thing: writing the next socially disruptive viral app. Thanks to the cloud, they can focus on the overall solution, not the underlying plumbing. From iOS to Android and Windows, developers can leverage cloud services to create a common cross-platform backend to persist user settings, app data, broadcast notifications, run jobs, etc. This session provide...
Apr. 27, 2015 04:00 PM EDT Reads: 1,429
SYS-CON Events announced today that Column Technologies, a global technology solutions company, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1998, Column Technologies is a leader in application performance and infrastructure management for commercial and federal markets. The company is headquartered in the United States, with a diverse and talented team of more than 350 employees around th...
Apr. 27, 2015 04:00 PM EDT Reads: 1,807