TerraX commences summer drill program at Yellowknife City gold project
8 July 2019
TerraX Minerals Inc. is pleased to announce that the 2019 summer drill program at the Yellowknife City Gold project (“YCG”) has commenced. Phase 1 has begun at Sam Otto South to test the 3.5 kilometer strike extension of the already defined gold structures at Sam Otto Main. Approximately 3500 meters of diamond drilling will test and extend the strike and continuity of the 2018 step-out discovery hole at Sam Otto South (Figure 1). The goals of the first phase of the summer drill campaign are to define a large multi-kilometer long gold bearing system and the geometry of high-grade lenses. The Sam Otto corridor will be tested based on surface mapping and sampling as well as geophysical interpretation of ground magnetics (Figure 1).
David Suda, President and CEO stated, “We are excited to report that on Friday, July 5th 2019, TerraX resumed drilling at the YCG project on one of our highest priority targets. The opportunity at Sam Otto South is the potential to increase the overall strike by a factor of four and to delineate higher grade structures previously unseen at this target. Positive results could represent a material step change in our ability to deliver a significant resource.”
In addition to the ongoing program at Sam Otto, TerraX plans to commence Phase 2 drilling at the high-grade Crestaurum deposit and BDC (Barney Deformation Corridor - North Giant Extension) targets in August 2019. TerraX continues mapping and analyzing existing data sets from both targets to ensure accuracy of drill collar locations. More detailed work plans for drilling at these two targets will follow in the coming weeks.
The technical information contained in this news release has been approved by Joseph Campbell, Executive Chairman of TerraX, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects.