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SOURCE Trulan Resources Inc.
HENDERSON, Nev., Feb. 25, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTCPK:TLAN) (the "Company" or "Trulan") is pleased to report that it has received the necessary due diligence information relating to the intended acquisition of Iron, Gold, Platinum and high value industrial mineral deposits (the "Project" or "IGP") in Chile, South America.
The Company has entered into a Letter Of Intent and continues to evaluate the data provided by the Vendor of the IGP Project. The LOI was based on positive confirmation of certain preliminary reports given to Trulan which outlined the discovery of a number of economically viable mineral deposits.
The data package includes several reports on the mineralization encountered during extensive exploration programs which led to the discovery of numerous deposits. Further comprehensive work went into the testing and delineation of the ore bodies which resulted in a sizable "Indicated Resource". Metallurgical reports outline significant grades of Fe (iron), Au (gold), Pt (platinum) and a variety of high value industrial minerals. An economic assessment of the Indicated mineralization known to date confirms that the IGP is financially viable at current metal prices.
Capital expenditures relating to mine infrastructure and ongoing extraction operations were factored into the financial model and were determined to represent a very small percentage of the known resource. Calculations were based solely on the existing "Indicated Resource" which remains open in all directions and at depth. Following the intended acquisition of the Project, Trulan expects to begin work immediately to determine the full extent of all of the ore bodies and take the resource calculation from "indicated" to "Proven Reserve".
According to Trulan CEO Robert Rosner, "We anticipate an expedited due diligence review of the IGP Project and look forward to entering into a definitive acquisition agreement within a very short time frame. This is an exciting project and we would like to begin the next stage of development as soon as possible".
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@example.com
President & CEO
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