20 January 2020
TerraX Minerals Inc. is pleased to announce the commencement of a 10,000 meter drilling program at the Company's wholly owned Yellowknife Gold Project in the Northwest Territory. This first phase of drilling will start at the Sam Otto gold deposit due to better access during the winter and will focus on expanding the current NI 43-101 inferred mineral resource estimate of 735,000 ounces of gold for the Project (Refer to press release dated November 4, 2019)
David Suda, President and CEO, stated, "We are excited to start the drilling program at Sam Otto, one of the main gold deposits identified to date on the Property. The Sam Otto gold zone which is approximately 12 kilometres from Yellowknife, has already been defined in two main areas over a strike length of almost two kilometres. Drilling results to date have confirmed the potential to quickly and efficiently add quality gold ounces."
The 10,000 metre drilling program at Sam Otto will consist of approximately 40 drill holes planned along strike, to expand the known mineralization corridor and test the open gap between Sam Otto Main and Sam Otto South. The corridor being drilled is over a strike length of approximately 1500 meters, with hole spacing on average of 100 meters to a depth of 250 metres. The winter program at Sam Otto will utilize 2 rigs, and will be completed by April 2020. Additional holes may be planned subject to the success of this ongoing program. The Company also plans a second drilling program at the Crestaurum high grade gold deposit for the summer of 2020.
The technical information contained in this news release has been approved by Joseph Campbell who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.