|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)
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Sep. 2, 2015 09:30 AM EDT Reads: 375
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
Sep. 2, 2015 09:30 AM EDT Reads: 1,538
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, 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 in...
Sep. 2, 2015 09:30 AM EDT Reads: 1,979
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Sep. 2, 2015 09:15 AM EDT Reads: 1,591
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Sep. 2, 2015 09:00 AM EDT
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...
Sep. 2, 2015 09:00 AM EDT
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...
Sep. 2, 2015 08:45 AM EDT
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Sep. 2, 2015 08:30 AM EDT Reads: 306
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Sep. 2, 2015 08:00 AM EDT Reads: 810
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Sep. 2, 2015 08:00 AM EDT Reads: 259
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Sep. 2, 2015 07:30 AM EDT Reads: 613
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Sep. 2, 2015 06:45 AM EDT Reads: 339
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Sep. 2, 2015 05:45 AM EDT Reads: 405
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Sep. 2, 2015 05:15 AM EDT Reads: 548
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Sep. 2, 2015 04:00 AM EDT Reads: 482