14 June 2017
Jun 14, 2017
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce the final assay results from the 2017 winter drill program at the Yellowknife City Gold Project (“YCG") in the Northwest Territories. Included in the assays reported today are 9 holes (3,713 m) at Sam Otto, located at the Northbelt property, that have more than doubled the strike length, intersected multiple zones of mineralization parallel to the main system, and extended the depth of gold mineralization to greater than 300 metres. Highlights include:
123.50 m @ 0.59 g/t Au including 25.07 m @ 1.38 g/t Au in hole TSO17-026
143.00 m @ 0.48 g/t Au including 34.50 m @ 1.10 g/t Au in hole TSO17-028
97.17 m @ 0.45 g/t Au including 24.00 m @ 1.15 g/t Au in hole TSO17-031
77.50 m @ 0.51 g/t Au including 23.75 m @ 1.02 g/t Au in hole TSO17-023
The drilling at Sam Otto also intersected multiple narrower horizons parallel to the main Sam Otto structure with significant zones of gold mineralization, particularly in the hanging wall of the Main Zone. These include:
5.50 m @ 1.29 g/t Au in hole TSO17-021
5.80 m @ 0.98 g/t Au in hole TSO17-023
8.00 m @ 1.07 g/t Au in hole TSO17-024
6.55 m @ 2.31 g/t Au in hole TSO17-025
5.05 m @ 1.51 g/t Au in hole TSO17-028
2.00 m @ 2.91 g/t Au in hole TSO17-031
Sam Otto is considered a bulk tonnage, low grade target with very uniform grade distribution across the zone, however some intersections encountered higher grade zones including:
7.17 m @ 3.24 g/t Au in hole TSO17-031
1.80 m @ 5.07 g/t Au in hole TSO17-027a
Joseph Campbell, CEO of TerraX, stated, “The consistency of wide gold intersections at Sam Otto along the north-south strike of 750 metres and to a depth of 300 metres confirms the existence of a bulk tonnage target with considerable upside potential. Open in all directions, Sam Otto also hosts the Dave’s Pond structure of classic high grade lode gold targets 300 metres to the west and high grade zones at Mispickel, 1 km to the northeast. We believe Sam Otto has potential to host a large, high grade deposit similar to the past producing Con mine to the south. This area is a priority target for generating future mineral resources.”