Trulan Reports 1,905,428 Ounces Of Platinum Indicated Within Four Zones On The IGP Iron-Gold-Platinum Project In Chile
HENDERSON, Nev., May 28, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTC PINK: TRLR) (the "Company" or "Trulan") is pleased to report on the indicated platinum value contained in four ore bodies that form part of the Company's IGP Iron-Gold-Platinum Project in Chile. According to the geological report based on extensive sampling to determine the size of the Indicated Resource, platinum was encountered throughout the property and that all samples collected were tested for platinum and estimated using mineral counting methodology. The results indicate an average grade of .27 grams per ton.
The IGP Project has a delineated Indicated Resource of 247 million metric tons contained in four ore body zones. Tonnage and grade indicate that there are 1,905,428 ounces of recoverable platinum contained in the areas of the IGP that have been tested and sampled thus far. Using a cut-off market value of $1,381.00 per oz, that being the lowest price encountered on the spot market during the past twelve month period, the Indicated in-situ platinum resource is currently valued at USD $2,631,396,068.
Previously, the Company reported that magnetite in the four deposits of the IGP contains 62% iron ore as well as 1,764,112 ounces of recoverable gold contained in the areas of the IGP that have been tested and sampled thus far. Trulan CEO, Robert Rosner, commented, "Trulan is extremely happy that we have determined there to be a significant platinum resource on the IGP in addition to a large gold resource. The potential of the IGP Project only continues to grow in scope and there are still sizable portions of the property yet to be explored."
About Trulan's IGP-Iron-Gold-Platinum Project
Trulan recently entered into an agreement to acquire a 100% interest in the IGP Iron-Gold-Platinum Project ("IGP" or the "Project") in the IV Region – Region de Coquimbo – of Chile. The relatively small region has a long history of mining and several operations are currently in production, including the Los Pelambres Deposit, which is the world's fifth largest copper mine.
The IGP Project totals 885 Hectares (2,186 Acres) of wide spread mineralization and ore bodies that contain high grades of Iron, Gold, Platinum and high value industrial minerals. There are eight known deposits in close proximity which have been tested to the point where an Indicated Ore resource has been delineated. The IGP comprises of four ore bodies with an Indicated Reserve in excess of 247 Million Metric Tons. Each of the four deposits have not been fully tested to determine ultimate size and they all remain open on all sides and at depth. Further exploration beyond the zones outlined to date is needed to realize the full extent of the mineralization and total size of the Ore bodies.
Trulan Resource's Mission is the exploration and development of mining properties whose economic potential is considered to be extensive, while requiring minimal infrastructure and operational costs, that can be advanced in an environmentally responsible manner.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For more information please contact Corporate Relations at 702-430-4690 or firstname.lastname@example.org
President & CEO
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SOURCE Trulan Resources Inc.