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Teslin River Signs Binding LOI to Acquire 1.8 Million Ounce Gold Property from Eureka Resources
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Teslin River Signs Binding LOI to Acquire 1.8 Million Ounce Gold Property from Eureka Resources
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Trade Publication Article
Teslin River Signs Binding LOI to Acquire 1.8 Million Ounce Gold Property from Eureka Resources
2011
Overview
(Marketwire - Sept. 12, 2011) - Teslin River Resources Corp. (TSX VENTURE:TLR) (\"Teslin\" or the \"Company\") and Eureka Resources (TSX VENTURE:EUK) (\"Eureka\") are pleased to announce the signing of a binding Letter of Intent (\"LOI\") for Teslin to acquire the 1.8 million ounce Frasergold Project, located 100 km east of Williams Lake in the Cariboo area of central British Columbia. The Frasergold Project is approximately 50 km east of Teslin's Rand Properties where the Company has signed an option agreement with Gold Fields Limited. According to [John R. Kerr P. Eng], VP Exploration, \"The amount of work done by prior operators of this deposit provides a valuable data package that will allow Teslin to produce resource validation, engineering studies and subsequently feasibility for advancing the deposit to a mineable reserve.\" Furthermore, according to Kerr, \"Concurrent to developing the known resource, the data indicates the potential to expand the deposit, possibly delineating higher grade zones of mineralization.\" \"We are very excited about adding Frasergold to our portfolio of gold and silver projects in North America,\" stated John Burgess, President and CEO of Teslin. \"Frasergold expands our project portfolio to include a development stage property, thereby decreasing the Company's overall risk profile and providing the potential to rapidly increase shareholder value in Teslin.\"
Publisher
Intrado Digital Media Canada Inc
Subject
