HENDERSON, Nev., May 20, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTCPK:TRLR) (the "Company" or "Trulan") reports on further corporate developments relating to the IGP Project in Chile.
During a recent trip to Chile, Trulan CEO, Robert Rosner hosted members of a private equity group at the site of the Company's Iron-Gold-Platinum project in the Coquimbo region of central Chile. The purpose of the site visit was to show the potential investors the scope of the project on the ground and how the infrastructure development process would progress through the various stages of implementation.
The visit was the second stage of the group's due diligence process that began in March. Following a preliminary review of the technical reports that outlined the ore reserves of the IGP Project, the investor group initiated an analysis and assessment of the complete data package that determined the IGP to be economically feasible to mine and process.
Intrinsic to such a comprehensive audit process is a thorough understanding of the property and how the mining operation will be engineered and built for optimum efficiency. As a result, Trulan considers this private equity group not simply as potential investors in the project but as true development partners with the ability to contribute time and expertise on a variety of operational levels.
Also attendant to the ongoing due diligence of the investor group is the determination of a qualified outside geological and engineering consulting team that will provide strong management implementation of the project. The Company has initiated discussion with a number of competent and accomplished individuals and hopes to make a determination as to who constitutes the best fit in the near future.
Said Mr. Rosner, "We have seen a significant time investment through the ongoing due diligence process by a private equity fund that we would very much like to move forward with. So far both parties are happy with the progress that has been made look forward to arriving at a mutually beneficial working relationship."
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 [email protected]
President & CEO
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SOURCE Trulan Resources Inc.