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TerraX Minerals Inc.
Summary
| Project: | Yellowknife City | |
|---|---|---|
| Deposit: | Sam Otto, Walsh Lake | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-5-2017: TerraX Minerals Inc. announces an Exploration/Drilling Update report for its Sam Otto, Walsh Lake deposit at the Yellowknife City project. Drilling results incl. 1.90m @ 13.96g/t Au from 34.50m. TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Joseph Campbell (Internal) | |
| ABSTRACT: | TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce assay results from the first 22 holes from the 2017 winter drill program just completed at the Yellowknife City Gold Project (“YCG") in the Northwest Territories. A total of 43 holes comprising 14,689 metres were drilled on multiple targets on both the Northbelt and Southbelt project areas, with assay results pending from the remaining 21 holes, of which 15 holes were drilled at Northbelt (Sam Otto, Banting Lake and Jackson Lake) and six holes were drilled at Southbelt to test the high-grade Con Shear and New Vein targets Of the 22 holes reported today, six holes (1,774 meters) were drilled at Dave’s Pond covering 400 meters of strike to the south and north of TSO16-005, the discovery hole drilled in 2016 (2.40 m @ 9.89 g/t Au – news release January 11, 2017). The remaining 16 holes were drilled on areas to the east, north and south of Mispickel in locations that are covered by the waters of Walsh Lake and require winter drilling. Joseph Campbell, the CEO of TerraX, stated “The high grade multi-gram gold intersections confirm the continuity of the Dave’s Pond structure along strike. This supports our belief that this area hosts classic high grade lode gold targets common to Archean gold systems in Canada. The consistency of the mineralization along strike and at depth leaves this area open for expansion when drilling at Dave’s Pond resumes in July 2017. Dave’s Pond will provide a high grade addition to the adjacent bulk tonnage Sam Otto Main Zone target, which is sub-parallel and 300 meters to the west of Dave’s Pond.” | |
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