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With interests in four gold properties, Teryl Resources Corp. is one of the main landholders in the Fairbanks Mining Division, Alaska's most prolific gold mining camp. The company's properties are located within 6 miles of Kinross Gold's FORT KNOX and TRUE NORTH gold deposits. Fort Knox, Alaska's largest open-pit mine, has been in operation for many years producing over 1,000 ounces of gold per day at an average grade just under 0.03 oz per ton. The GIL joint-venture project (80% Kinross/20% Teryl) is the company's most advanced property, and based on drill results (10 million tons grading 0.04 ounces per ton gold for 400,000 ounces) will deliver higher-grade gold for the "ore-hungry" Fort Knox mill.
Teryl's goals are to develop the GIL project to production with Kinross, the world's 7th largest gold producer, and to uncover further gold deposits in the Fairbanks district. The Company's holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: LNXGF), and the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross. The Company also has a 100%-interest in the West Ridge property.
Teryl has recently raised $300,000 in a private placement to be used for this year's exploration and drilling program on the Fish Creek Claims.
Teryl Resources Corp. has an agreement on seven patented claim blocks, consisting of 248 acres, in the Warren Mining District, Cochise County, Arizona. The seven patented claim blocks are called the Gold Hill prospect, which includes the Old Gold Hill, Superior, and Baston mines. The Gold Hill copper, gold, and silver property is four miles west of the Copper Queen/Lavender Pit mine, one of the richest copper mines in history, owned by Phelps Dodge Corporation, which has produced 75 million tons of ore from 1954 to 1970.
Teryl Resources Corp. also has one joint venture silver prospect located in Northern BC, Canada.
Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky.
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