SYS-CON MEDIA Authors: Elizabeth White, Peter Silva, Liz McMillan, Yeshim Deniz, Pat Romanski

News Feed Item

Terraco Gold Reports on Significant Upgrade in Resource and 2014 Budget Increase Released by Midway Gold on the Spring Valley Gold Project, Nevada

Terraco has royalty (NSR) coverage of up to 3% within Spring Valley and controls 35sq km's adjoining Spring Valley

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/13/14 -- Terraco Gold Corp. (TSX VENTURE: TEN) ("Terraco" or the "Company") is pleased to report that on August 12, 2014 Midway Gold Corp. ("Midway") (TSX: MDW)(NYSE: MDW) announced an independent mineral resource estimate update on the Spring Valley gold project, Pershing County, Nevada ("Spring Valley"). Spring Valley is a joint venture (the "Spring Valley Joint Venture") between Barrick Gold Corp. ("Barrick") holding 75% and Midway holding 25%.

Midway has reported an increase in the measured and indicated mineral resource category and an increase in gold grade from the 2011 to the 2014 resource estimate. A total of 672 drill holes are included in the 2014 resource estimate and include data from an additional 153 holes drilled since the 2011 resource estimate. In addition, Midway has reported that Barrick has increased the 2014 project budget to $17.4 million which includes $9 million for continued in-fill drilling and $8.4 million for preparation of an internal pre-feasibility study and other related project development expenditures required for mine planning (refer to Midway press release dated August 12, 2014).

Terraco has gold royalty coverage of up to 3% net smelter returns royalty ("NSR") on claims covering the majority of Spring Valley and also controls over 35 square kms of early-stage exploration potential (the Moonlight Project) adjoining the Spring Valley Joint Venture to the north.

Terraco shareholders are encouraged to review Midway's press release of August 12, 2014 and the National Instrument 43-101 technical report summarizing the updated mineral resource estimate on Spring Valley which is expected to be filed by Midway on sedar.com on or before September 26, 2014, and available under Midway's profile.

"Terraco is pleased to see the continued growth at the Spring Valley Barrick/Midway joint venture project. Our royalty structure, of up to 3% NSR, is a flagship Nevada royalty and a lead asset to our Company. Shareholders of Terraco should be very encouraged by developments outlined in Midway's August 12th release which we believe will result in additional value for our shareholders. Additional exploration potential was also highlighted in the Midway release as the current mineral resource is open to the south, northwest and at depth. A number of high potential drill targets were also identified outside the current resource area. The Spring Valley project as a whole bodes well for our royalty holdings and adjoining Moonlight Project," said Todd Hilditch, President and Chief Executive Officer of Terraco.

Terraco's Royalty Assets and Map

For a narrated video presentation of Terraco's royalty assets please click the following link:Terraco Gold Virtual Presentation of Spring Valley Assets

For a link to the website Spring Valley, please follow the below link to our website: http://www.terracogold.com/s/SpringValleyRoyalty.asp

More information on the Spring Valley Joint Venture is available on Sedar under Midway's profile and Midway's website.

While Terraco Gold has no reason to believe that the information, including the updated mineral resource estimate, disclosed by Midway in its August 12, 2014 press release are not accurate, Terraco cannot assure readers of completeness or accuracy of such information. Readers are cautioned to make their own investigations.

This release has been reviewed and approved by Charles Sulfrian, CPG., Vice President, Exploration, of Terraco and a 'qualified person', as defined by National Instrument 43-101,Standards of Disclosure for Mineral Projects.

About Terraco Gold

Terraco is a junior mining company with a gold project portfolio that includes a gold royalty and royalty options on Spring Valley, which is a joint venture among the world's largest gold producer, Barrick and Midway. Terraco also controls over 35 sq kms of early-stage exploration potential (the Moonlight Project) adjoining the Spring Valley Joint Venture to the north. In addition, Terraco has an advanced-stage gold project in Idaho which has disclosed a mineral resource estimate in compliance with National Instrument 43-101.

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.

Forward-Looking Statements

This press release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, including statements regarding the results of the independent mineral resource estimate update on Spring Valley, the expected filing by Midway of a technical report summarizing the updated mineral resource estimate, and the developments outlined in Midway's August 12th release resulting in additional value for Terraco shareholders, are forward-looking statements. Although Terraco believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Terraco cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Corporation's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties with or interruptions in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis, and other risks and uncertainties. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Tasman disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Contacts:
Terraco Gold Corp.
Todd Hilditch
President and CEO
(604) 443-3831 or Toll free: 1 877 792-6688 Ext 2
(604) 682-3860 (FAX)
www.terracogold.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
This talk focuses on the application of DevOps fundamentals to include network infrastructure. It draws from real deployment case studies on the extension of today's paradigms to address the challenges of the network infrastructures' ability to seamlessly and cohesively integrate into agile workflows. In this session at DevOps Summit, Arista Networks will focus on configuration management using automation with a nod to future work necessary to include telemetry and ephemeral state information....
Avnet, Inc. has announced that it ranked No. 4 on the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative cloud-based training system that serves as the foundation for Avnet Academy – the company’s education and training organization focused on technical training around top IT vendor technologies. The development of this system allowed Avnet to quickly expand its IT-related training capabilities around...
SYS-CON Events announced today that dcVAST, a leader in IT infrastructure management, support service and cloud service, 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. dcVAST provides cutting-edge IT services and IT infrastructure management services. dcVAST builds robust systems that are simple, secure and serviceable. dcVAST’s IT infrastructure support and IT services expertise can help companies r...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
While Docker continues to be the darling of startups, enterprises and IT innovators around the world, networking continues to be a real mess. Indeed, managing the interaction between Docker containers and networks has always been fraught with complications. Without automation in networking, the vision of running Docker at scale and letting IT run the same apps unchanged on the laptop and in the data center or for any cloud cannot be realized.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Artifactory binary repository management system. As one of the most widely used binary repositories and the only repository that offers a high availability clustered solution, the integration with Artifactory helps customers easily adopt CA Release Automation to optimize their entire software development lifecycle. “Artifactory is a standard maker at the continuous-integration domain and provides the user a powerful repository experience with the freedom to choose his own tools set and ecosyste...
The OnPage SOAP API provides programmatic access to OnPage messaging services. Typical applications include sending messages to individual OnPage users or groups and receiving tracking information for messages such as delivery and read timestamps or reply information. The API is based on open standards known collectively as "Web Services," which includes the Simple Object Access Protocol (SOAP), Web Services Definition Language (WSDL), and the XML Schema Definition language (XSD).
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
Ayla Networks, whose agile Internet of Things (IoT) platform makes it easy for manufacturers to deliver secure, connected products, today announced it has been included in the list of "Cool Vendors" in the Internet of Things report by Gartner, Inc. “Gartner knows how important it is that manufacturers of all kinds of products have the right IoT solution to help turn their products into connected ‘things,’” said David Friedman, CEO and co-founder of Ayla Networks. “The market for Ayla’s IoT pla...
A new definition of Big Data & the practical applications of the defined components & associated technical architecture models This presentation introduces a new definition of Big Data, along with the practical applications of the defined components and associated technical architecture models. In his session at Big Data Expo, Tony Shan will start with looking into the concept of Big Data and tracing back the first definition by Doug Laney, and then he will dive deep into the description of 3V...
SYS-CON Events announced today that CenturyLink, Inc., a leader in the network services market, has been named “Platinum Sponsor” of 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. CenturyLink is the third largest telecommunications company in the United States and is recognized as a leader in the network services market by technology industry analyst firms. The company is a global leader in cloud infrastructure and ...
ScriptRock has been included in the list of "Cool Vendors" in the "Cool Vendors in DevOps 2015" report by Gartner, Inc.* ScriptRock provides visibility into the configuration state of an organization's IT environments, enabling the continuous delivery of mission critical services. For enterprises where downtime is not an option, ScriptRock's system-wide overwatch offers the assurance that misconfigurations and anomalies are caught before they affect the business. By satisfying this fundamental ...
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.