Yellowknife, April 7, 2014 -- TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TXO; OTC Pink: TRXXF) has completed its planned four hole (1,000 m) drill program at the Homer Lake base metal/precious metal target and moved Drill #1 to the Barney Shear (28.32 m @ 2.97 g/t Au, inclusive of 4.00 m @ 12.59 g/t Au in news release August 14th, 2013) which is the extension of the Con Mine/Giant Mine shear system that has hosted more than 13 Moz of gold production from the two historic mines. The Barney Shear Zone is one of TerraX's primary gold targets on the Northbelt property of the Yellowknife City Gold Project ("YCGP") in the Northwest Territories. Drilling is still underway with a second drill at the nearby Crestaurum gold deposit, as announced on April 7, 2014.
The Barney Shear has been delineated over a strike length of 4.5 km by TerraX and previous workers and has only been drill tested by prior operators over a 600 m strike length. Surface mapping in June 2013 indicates that the Barney Shear Zone consists of multiple mineralized shears over a >200 m width. The 2014 Barney Shear drilling will consist of up to 8 holes following the strike extension of the shear up to 300 m north of the mineralization defined in drilling carried out by Nebex Resources Ltd. in 1995 and 1996. In addition, TerraX will be re-entering the collars of 4 drill holes from the 1995-96 campaigns. These holes will be surveyed down hole to accurately determine the location of previously intersected zones of mineralization, and then multiple wedges will be turned off the original holes to generate additional mineralized intersections. This work is possible as the previous exploration drilling had left the original drill hole collars cased and capped to preserve them for future work on this important mineralized zone.
The first hole re-sampled by TerraX, NB95-16, was drilled on the Barney Shear by Nebex in 1995. TerraX's assay results include an interval of 20.86 m @ 3.79 g/t Au, inclusive of 4.00 m @ 12.59 g/t Au (news release of Aug 14, 2013). Holes NB-96-02 and NB96-04, drilled in 1996, were also re-logged and re-sampled by TerraX with assay results that included 8.16 m @ 5.06 g/t Au and 6.32 g/t Ag (NB96-02) and 27.00 m @ 1.9 g/t Au and 6.94 g/t Ag (NB96-04) (news release of Nov 14, 2014 ). The assay results from NB96-02 and NB96-04 are very encouraging as they confirm the strike continuation and substantial areal extent of the Barney Shear Zone. A map indicating the location of this prior drilling is available on our web site at