Niakafiri West, Soukhoto and Dinkokhono
A large resource definition program is planned for 2013 for the Niakafiri, Niakafiri West, Dinkokhono and Soukhoto deposits in 2013, pending ongoing community discussions. In conjunction with our Agreement with the Republic of Senegal, Management expects to complete these discussions and commence drilling in the second quarter of 2013.
The Masato North target area is located along the possible northeast trending splay of the Sabodala Shear zone, to the north of Masato. Drilling intersected a strongly altered shear zone containing sericite, albite and sulphides. A total of 870 metres in 6 holes were drilled in the first quarter 2013 and results are pending.
There are currently 50 anomalies and drill targets that have been identified on the Company's approximately 1,200 km2 RLP, all within trucking distance of the mill. During first quarter 2013, the primary focus for the regional exploration program was on the Tourokhoto-Marougou and Goumbou Gamba prospects geological mapping and trench sampling programmes were undertaken on the Ninyenko and Soreto prospects within the Heremakono Permit.
A program of approximately 4,300 metres of RC drilling was completed in the first quarter to follow up on the mineralization intersected at Tourokhoto-Marougou in 2012. Three mineralized zones ranging in strike length from 0.5 km to 1.3 km and with varying widths have been outlined. Geological and resource modeling is ongoing. The previous drilling program identified significant mineralization on three RC lines spaced over a total strike length of 1,200 metres. The follow-up program was designed to determine if this mineralization is continuous between and along strike of these widely spaced lines.
A 1,600 metre RC drill programme was completed in the first quarter at Goumbou Gamba. The programme was implemented to test the strike and down dip extensions of gold mineralization identified over a 2 km strike length in earlier Rotary Air Blast ("RAB") and RC drill campaigns.
Results indicate that gold grades are of a low tenor and are widely dispersed within the shear zone. Geological modeling is ongoing.
Geological mapping and rock chip sampling was undertaken at Soreto. A 4 km long surface gold anomaly associated with a major NNW regional shear structure was identified. A limited diamond drill-hole program has been designed to test the mineralization at depth.
Geological mapping and trench sampling at Ninyenko has confirmed the existence of a near surface flat lying gold bearing brecciated shear zone with pervasive quartz- hematite-potassic alteration. Gold mineralization has been identified in prospect trenches covering an area 1.3 km long by 0.6 km wide. Channel sampling of the mineralized zone gave elevated gold values. Trenching and mapping is planned to locate extensions to the gold mineralization.
CORPORATE DIRECTORYDirectorsAlan Hill, Executive ChairmanRichard Young, President and CEOChristopher Lattanzi, Non-Executive DirectorOliver Lennox-King, Non-Executive DirectorAlan Thomas, Non-Executive DirectorFrank Wheatley, Non-Executive DirectorJeff Williams, Non-Executive DirectorSenior ManagementAlan Hill, Executive ChairmanRichard Young, President and CEOMark English, Vice President, Sabodala OperationsPaul Chawrun, Vice President, Technical ServicesNavin Dyal, Vice President and CFODavid Savarie, Vice President, General Counsel & Corporate SecretaryKathy Sipos, Vice President, Investor & Stakeholder RelationsMacoumba Diop, General Manager and Government Relations Manager, SGORegistered Office121 King Street West, Suite 2600Toronto, Ontario, M5H 3T9, CanadaT: +1 416-594-0000F: +1 416-594-0088E: email@example.comW: www.terangagold.comSenegal Office2K PlazaSuite B4, 1er Etagesis Route du Meridien PresidentDakar AlmadiesT: +221 338 693 181F: +221 338 603 683AuditorErnst & Young LLPShare RegistriesCanada: Computershare Trust Company of CanadaT: +1 800 564 6253Australia: Computershare Investor Services Pty LtdT: 1 300 850 505Stock Exchange ListingsToronto Stock Exchange, TSX code: TGZAustralian Securities Exchange, ASX code: TGZIssued Capital------------------------------Issued shares 245,618,000------------------------------Stock options 17,139,167------------------------------Stock Options - Exercise ProfileExercise Price (C$) Options-----------------------------------$3.00 17,139,167-----------------------------------