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TerraX Minerals Inc.
Summary
| Project: | Yellowknife City | |
|---|---|---|
| Deposit: | Mispickel | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/10/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-11-2016: TerraX Minerals Inc. announces an Exploration/Drilling Update report for its Mispickel deposit at the Yellowknife City project. Drilling results incl. 7.40m @ 10.17g/t Au from 146.00m. Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankf | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Joseph Campbell (Internal) | |
| ABSTRACT: | Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce assay results from a further 8 holes (2,415 m) from the summer phase of a 27,000 meter drill program at multiple targets on the Yellowknife City Gold Project (“YCG"), immediately north of Yellowknife in the Northwest Territories. All eight holes reported today are from Mispickel and intersected multiple zones of gold mineralization. Six of these eight holes are located on two sections of drilling approximately 25 and 50 meters north of previously reported drill holes (news release September 22, 2016). Two holes (TWL16-029 and 030) are 40 and 100 meters deeper than previously reported drill hole TWL16-019 (5.85 m @ 12.47 g/t Au, reported September 22, 2016). TWL16-029 returned 8.00 m @ 6.45 g/t Au in the main zone and holes TWL16-023 and TWL16-030 intercepted a new zone of mineralization at the bottom of the holes, both ending in mineralization. All zones remain open along strike and down dip. Joseph Campbell, the CEO of TerraX, stated “These drill results show that the structures hosting the high grade gold zones within the Mispickel system have significant continuity at depth and along strike. In addition, the higher grade intersections are displaying the classic lode gold geometry common to Archean gold systems in Canada. The persistence of the mineralizing structures with pervasive gold mineralization throughout the holes continues to indicate a large mineralizing system. We look forward to receiving the results from the remaining 24 holes drilled this summer on multiple targets and the resumption of drilling in January, 2017. We are fully funded for the balance of this 27,000 meter drill program and are excited about the potential for additional high-grade discoveries in this established gold district.” | |
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