18 March 2019
TerraX Minerals Inc. has completed relogging and sampling of 1579 meters of the 16,000 meters of historical drill core recovered from the Giant Mine core yard (news release January 14, 2019). TerraX is highly encouraged that gold mineralization trends onto the Barney Deformation Corridor (“BDC”) target zone along the northern extension of the structure that hosted the Giant Mine (Figure 1). Mineralization within the historical drill core is adjacent to historical high-grade assays within vein and shear zone structures across broad zones of alteration similar to Giant. Individual assay values from the margins of the historical sampling included 5.06 g/t Au, 2.74 g/t Au, 1.65 g/t Au, 0.99 g/t Au, and 0.96 g/t Au.
President and CEO David Suda stated: “Results from historical core assays have led to a pivotal moment in TerraX’s advancement toward a potentially significant gold discovery. Assay results indicate that gold structures mined by Giant just south of TerraX property continue north for 4 km on our BDC target. The results underpin data which drove the BDC as a top target and provide significant technical insight for future drill targeting along the trend.”
The historical sampling of these drill holes in the 1960s preferentially sampled the high-grade quartz veins by removing the entire pieces of core. TerraX geologically logged and sampled core along the margins of these quartz veins immediately adjacent to the gaps left from the original samples. Because of the historical whole core sampling method TerraX cannot verify the reported historical assays, but the adjacent core that was sampled demonstrates significant gold mineralization within the shear zones.