TerraX Minerals is focused on the Yellowknife City Gold Project (“YCG”), which encompasses 129 km2 of contiguous land “in the shadow of the head frame”, immediately north and south of Yellowknife, the capital of the Northwest Territories in Canada. Through a series of acquisitions, TerraX now controls one of the six major high-grade gold districts in Canada. Being all-season road accessible and within 15 km of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled trades people.
The project lies on the prolific Yellowknife greenstone belt, covering 23 km of strike length on the northern (15 km) and southern (8 km) extensions of the shear system that hosts the past producing high-grade Con (6.1 Moz @ 16.1 g/t Au) and Giant (8.1 Moz @ 16.0 g/t Au) gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold camp, with innumerable gold showings and recent high grade drill results that serve to indicate the project’s potential as a world-class gold district.
Having raised over $3.2 Million in May 2016 and a further $7.5 Million in July 2016, TerraX is fully funded for exploration at YCG through 2017. Exploration success in early 2016 included the discovery of new zones of high grade mineralization, evidenced by our high-grade drill intercepts of 8.0 m @ 60.60 g/t Au and 7.30 m @ 23.60 g/t Au at our Mispickel target. We also discovered wide and pervasive zones of near surface mineralization at our Sam Otto target, with drill intercepts of 49.70 m @ 1.00 g/t Au and 30.70 m @ 1.33 g/t Au. A 27,000 meter drill program commenced in the summer of 2016 with initial results being released in September of 2016. Drilling is continuing and further assay results are pending.
2016 Exploration Highlights
Recent Drill Results - Sept 22, 2016: