12 July 2018
TerraX Minerals Inc. is pleased to announce assay results from the Company’s summer field program now underway on the Yellowknife City Gold project. The first set of assay results come from sampling done on two new zones called Gull Lake and Rater Lake that have been identified on our Northbelt property. These new targets are in the same mafic volcanic geology that also hosted the Giant and Con mines. The highlight assays are 43.7 g/t Au, 28.0 g/t Au, and 19.05 g/t Au on the Gull Lake Zone with several additional assays in the 1 to 5 g/t Au range on both zones. These gold zones are interpreted as being the continuation of the Giant Mine gold structure, warranting immediate further work along these structural trends.
The second set of assay results come from channel sampling done around the past producing Ptarmigan Mine on Eastbelt, an asset that TerraX acquired in early 2018 (see news release of January 12, 2018). These channels were cut from outcrop along the Ptarmigan vein trends and sampled across the gold mineralized structures. Assay results for gold range up to 226 g/t Au and 126 g/t Ag in 0.50 m channel samples from Channel ECH18-037. Intervals for the 3 sampled areas (ECH18-035 to ECH18-037) are indicated on the map available here and include: