Northbelt Targets: Sam Otto

The Sam Otto target area is located approximately 1.5 kilometers south of the Mispickel target. Ground surveys and drilling have identified wide zones of mineralization that extend for 1.5 to 2 kilometers of strike length on at least three structures; the Main Zone, the Hanging Wall Zone and Dave's Pond. The Sam Otto area is considered a very large mineralizing system with high potential for multi-million ounce discoveries.

The Sam Otto target area is located approximately 1.5 kilometers south of the Mispickel target. Ground surveys and drilling have identified wide zones of mineralization that extend for 1.5 to 2 kilometers of strike length on at least three structures; the Main Zone, the Hanging Wall Zone and Sam Otto West (Dave's Pond). The Sam Otto area is considered a very large mineralizing system with high potential for multi-million ounce discoveries.

  • 750m long x 100m wide bulk tonnage zone with higher grade gold lenses
  • Potential to extend target strike length from 750m to 4km (Sam Otto South)

Geology:

Sam Otto is hosted in felsic to intermediate volcanics of the Banting Formation, with intercalated sediments and mafic volcanics. Lithology dips vertically to steeply east and strikes north-south. Mapping and geophysical surveys suggest possible folding with north trending axis.

The zones of mineralization in the Main Zone and the Hanging Wall Zone occur as wide (50-200 meter) anomalous gold horizons that are contained within a dominant north trending deformation zone with multiple discrete 2-20 meter wide shears containing higher grade gold. The dominant north trend is crosscut by NNE and east-west structures which host some of the highest grade mineralization when they intersect the north trending shears.

Alteration consists of weak to moderate quartz-sericite, with secondary chlorite-carbonate alteration and localized quartz veining, predominantly in the north-south direction, but with east-west quartz veinlets in higher gold grade areas. Sulphides associated with the gold include minor to low percentages of pyrite and arsenopyrite. Visible gold is rare, and gold grades are consistent within a range of 0.5 g/t Au to 5 g/t Au.

The Sam Otto West zone (Dave's Pond) consists of more discrete 3-10 meter zones of moderate to intense quartz-sericite-carbonate alteration with high grade laminated quartz veins, in a north-northeast trending shear. Sulphides associated with the gold include moderate to high percentages of pyrite and arsenopyrite within and on the selvages of the quartz veins.

Exploration:

Initial exploration occurred in the fall of 2013 when wide zones of disseminated sulphides in shear zones was observed in historical trenches.

Drilling commenced in the winter of 2016 with nine holes targeting the Main Zone and totaling 1510 meters, intersecting wide gold zones up to 49.70 m @ 1.00 g/t Au in TWL16-013 (news release April 13, 2016). This was followed by surface mapping and sampling and more drilling in the summer of 2016 when fourteen holes totaling 1885 meters were completed on three targets; the Main Zone (2 holes), the Hanging Wall Zone (4 holes) and the Sam Otto West (Dave's Pond) Zone (4 holes), and a further four holes on reconnaissance targets. Results included intersections on the Main Zone of 32.13 m @ 1.24 g/t Au, Hanging Wall of 30.75 m @ 1.29 g/t gold, and 2.40 m @ 9.89 g/t Au at Sam Otto West (Dave's Pond) (news release January 11, 2017).

The 2018 drill program included 3 holes drilled south of the Sam Otto Main zone and spaced 400 to 600 meters apart. All holes had significant gold with the best hole the most southerly (1.5 km south of Sam Otto Main – Sam Otto South) and assaying 2.16 g/t Au over 27.16 meters. There is no drilling south of this intersection.

Future Work:

Current work continues to indicate a large mineralizing system in the Sam Otto area. The potential for a large bulk tonnage deposit and a higher grade lode gold deposit at Sam Otto makes this an attractive target for further exploration.

TerraX plans to follow-up on its success by testing along the strike and dip extensions of the Sam Otto structures during the drill program planned for the summer of 2019.

Current Focus for Summer 2019:

  • Deposit Expansion to follow up 1.5km step out (TSO 18-035 – 27.16m @ 2.16 g/t Au) at Sam Otto South

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