TerraX Completes Winter Drilling at Yellowknife City Gold Project; Assay Results Pending
26 4월 2014 - 12:11AM
Marketwired
TerraX Completes Winter Drilling at Yellowknife City Gold Project;
Assay Results Pending
YELLOWKNIFE, NORTHWEST TERRITORIES--(Marketwired - Apr 25, 2014)
- TerraX Minerals Inc.
(TSX-VENTURE:TXR)(FRANKFURT:TX0)(PINKSHEETS:TRXXF) has completed
the winter portion of its Phase 1 drill program at the Yellowknife
City Gold project, Northwest Territories. During this program,
TerraX drilled 14 holes totaling 2,305 m, including 4 holes on
Homer (1,001 m), 4 holes on Crestaurum (533 m), and 5 holes on the
northern extension of the Barney Shear (751 m). TerraX is awaiting
assay results and will report these in due course as they become
available.
The summer drill program is scheduled to begin in mid-June once
water levels recede and ground conditions improve. A further 3,500
m of drilling is planned during the summer program, made up of
approximately 1,000 m at Crestaurum and 2,500 m at the Barney Shear
Zone. For more information on the Yellowknife City Gold Project,
please visit our web site at www.terraxminerals.com.
The technical information contained in this news release has
been approved by Joseph Campbell, the President of TerraX, who is a
Qualified Person as defined in "National Instrument 43-101,
Standards of Disclosure for Mineral Projects."
About the Yellowknife
City Gold Project
The Yellowknife City Gold Project encompasses approximately
8,400 hectares of contiguous land immediately north of the City of
Yellowknife in the Northwest Territories and includes TerraX's
wholly-owned Northbelt property acquired in February 2013.
The Northbelt gold property encompasses 3,562 hectares on the
prolific Yellowknife belt, all within 15 km of the city of
Yellowknife, and covers 13 km of strike on the northern extension
of the geology that contained the Giant (7.8 Moz) and Con (5.5 Moz)
gold mines. The Northbelt property is host to multiple shears that
are the recognized hosts for gold deposits in the Yellowknife camp
and it contains innumerable gold showings and historic high grade
drill results.
TerraX has carried out a strategy of acquiring prospective
ground adjacent to Northbelt and in October 2013 entered into an
option agreement whereby it can acquire a 100% interest in the
Walsh Lake gold property, which is contiguous with and immediately
east of Northbelt. The Walsh Lake property consists of seven leases
and five claims totaling 6,659 acres (2,695 hectares). TerraX has
also staked and acquired ground to the west of Northbelt to cover
prospective geology that is on strike from Northbelt
structures.
On behalf of the Board of Directors
Joseph Campbell, President
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors - including the availability of
funds, the results of financing efforts, the completion of due
diligence and the results of exploration activities - that could
cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time to time on SEDAR (see www.sedar.com). Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The company
disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Paradox Public Relations514-341-0408 or Toll Free:
1-866-460-0408info@paradox-pr.caVanguard Shareholder
Solutions604-608-0824 or Toll Free:
855-508-0824ir@vanguardsolutions.ca
Terrax Minerals (TSXV:TXR)
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