TerraX Minerals is focused on the Yellowknife City Gold ("YCG") project which encompasses 382 sq km of contiguous land immediately north and south of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering 40 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, 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: