Trulan's IGP Iron-Gold-Platinum Project Attracts Interest From Private Equity Groups, Financial Institutions And Investment Banks.
HENDERSON, Nev., March 22, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTC Pink: TRLR) (the "Company" or "Trulan") is pleased to report that the scope of the Company's IGP Project in central Chile has attracted the attention of a number of significant private equity groups and Investment banking firms. Expressions of interest regarding the future financing of the IGP have been received by Trulan and management has had some preliminary discussions to qualify this interest.
The Company reported on March 11, 2013 a PEA (preliminary economic assessment) of the iron ore contained in four deposits on the IGP property which amounted to US$ 2,912,090,850. The value reflects the high grade and size of the indicated reserve based on current spot market price. Each of the four IGP deposits also contain significant gold and platinum values as well as additional other high value industrial minerals. Reports are being examined relating to the additional constituent minerals and the grade and value for each one will be released upon further analysis and confirmation.
Robert Rosner, Trulan's CEO, said "As we have gotten deeper into the data on the IGP Project, it has become apparent that there is a large and, what appears to be, economic iron ore reserve. However, I think that the gold and other types of high value mineralization that have been encountered are much more intriguing. The financing groups that have approached us are intrigued as well."
Trulan intends to continue developing its expanded exploration program and will continue discussion with regard to financing its operations with the most appropriate partner.
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.