6 February 2020
TerraX Minerals Inc. is pleased to provide an update on the 2020 winter drilling program. As of the end of January, TerraX had drilled 1916 metres in 7 drill holes. Drilling is being done in an effort to expand the NI 43-101 inferred mineral resource estimate at Sam Otto which was reported on November 4, 2019.
David Suda, President and CEO, stated, "We are excited to have intersected wide shear zones at Sam Otto South with 3 holes containing quartz veins showing visible gold with potential to repeat the success of hole TSO-035. We believe these preliminary results could aid significantly in achieving our goal of expanding the resource at Sam Otto. We very much look forward to the assay results."
Five holes totalling 1497 metres have been drilled on strike and below hole TSO18-035 (line 3100N) which intersected 2.16 g/t Au over 27.12m (March 9, 2018). The five holes have been drilled on a 50m spacing laterally, and 100m vertically near the previous hole TSO18-035, (see map). Typically the Sam Otto zone consists of a wide shear zone (30-100m wide) and 1-2 g/t gold mineralization associated with disseminated sulphides such as pyrite, pyrrhotite and trace of arsenopyrite (Py-Po-Asp). The previous hole TSO18-035 contained significant quartz veins with some visible gold that brought the average zone to above 2.0 g/t gold. All five holes from winter 2020 have intersected wide zones of shearing, alteration and sulphide mineralization, ranging up to 160 metres wide with same mineralization style. The first three holes (53, 54 and 58) have all intersected visible gold in quartz veins similar to the discovery hole TSO18-35 (see photo below).
In addition to the drilling on Sam Otto South, two holes have been completed in the ‘Sam Otto Connector' zone on line 4250N which is one kilometre north (see map). This area is between the Sam Otto Main Zone and the Sam Otto South Zone. Previous mapping and surface sampling has indicated a continuation of these zones to connect as one. Both holes have intersected alteration, shearing and sulphide mineralization (Py, Po, Asp) over +/- 80 metre widths.
Drilling continues and TerraX is currently logging and sampling core. Initial assay results from the first holes are expected in the coming weeks.