Terrax Commences Drilling at Barney Shear Zone, Yellowknife City Gold Project
25 6월 2014 - 9:00PM
Marketwired
Terrax Commences Drilling at Barney Shear Zone, Yellowknife City
Gold Project
YELLOWKNIFE, NORTHWEST TERRITORIES--(Marketwired - Jun 25, 2014)
- TerraX Minerals Inc.
(TSX-VENTURE:TXR)(FRANKFURT:TX0)(PINKSHEETS:TRXXF) has re-commenced
core drilling, following spring breakup, on its wholly-owned
Yellowknife City Gold Project ("YCGP"), near Yellowknife, NWT.
Drilling continues at the Barney Shear Zone, which is widely
recognized in industry publications and historic reports as the
northern continuation of the gold mineralized shear system that
hosted the past-producing high-grade Con and Giant gold mines in
Yellowknife. The Barney Shear has been delineated over a strike
length of 4.5 km by TerraX and previous operators; surface mapping
by TerraX in 2013 indicates that the Barney Shear Zone consists of
multiple mineralized shears over a greater than 200 m width.
The first drill holes will be wedges to test the up dip
extension of the Barney Shear Zone off relatively deep drill holes
drilled by Nebex Resources in 1995 and 1996 that intersected the
Barney Shear Zone at vertical depths of 240 to 280 meters below
surface. The holes were left cased and capped to allow re-entry for
further exploration of this zone. The previous drilling by Nebex
were single holes per cross-section, and the wedges to be completed
by TerraX will create multi-hole sections for geological modeling
and potentially allow Terrax to complete an initial inferred
resource estimate at Barney utilizing drill logs and core available
to TerraX from the Nebex drilling.
TerraX has previously reported assay results from re-logging and
sampling of the drill core from these holes that included:
- 20.86 m @ 3.79 g/t Au, inclusive of 4.00m @ 12.59 g/t Au, in
hole NB 95-16 (news release of August 14, 2013),
- 8.16 m @ 5.06 g/t Au in hole NB 96-02 (news release of November
14, 2013), and
- 27.00 m @ 1.90 g/t Au, inclusive of 2.70 m @ 8.97 g/t Au in
hole NB 96-04 (news release of November 14, 2013).
Hole 96-02 was collared 450 m west of NB 95-16. Hole NB 96-04
was collared 60 m north of NB 95-16 and was the northernmost hole
drilled on the Barney Shear until drilling conducted by TerraX in
April of 2014 reported a newly discovered northern extension to the
Barney Zone (Barney North Extension), approximately 200 meters
further north and 200 meters up dip of previous drilling (news
release June 2, 2014). This drilling greatly expanded the strike
and dip length of the Barney Zone.
Following drilling on the Barney Zone, TerraX will be drilling
several holes on the Crestaurum zone to complete a program that
began in April of this year in areas of historical holes drilled
between 1945 and 1947. TerraX plans on leveraging historical
exploration data to continue defining the extent and controlling
structures of known mineralization on the Crestaurum and Barney
shears, with the potential of establishing a modern resource
estimate for both deposits this year. As well, ongoing field
exploration (see June 17, 2014 News Release) will generate and
prioritize targets for future drill programs on the multiple shears
identified during TerraX's 2013 exploration program and over 70
years of historical exploration records.
About the Yellowknife
City Gold Project
The Yellowknife City Gold Project (YCPG) 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 project lies on the prolific Yellowknife greenstone belt,
and covers 15 km of strike length on the northern extension of the
shear system that hosts the high-grade Con and Giant gold mines.
The project is host to multiple shears that are the recognized
hosts for gold deposits in the Yellowknife gold district and
contains innumerable gold showings and historic high grade drill
results. Since January 2013, TerraX has consolidated the project
area by acquiring and optioning numerous properties, including:
Northbelt, Goodwin, Ryan Lake, Walsh Lake, and U-Breccia, as well
as staking additional contiguous lands. Being all-season road
accessible and within 15km of the City of Yellowknife, YCPG is
close to vital infrastructure, including: supplies, service
providers, power, water, and skilled tradespeople.
For more information on TerraX Minerals and the Yellowknife City
Gold Project, please visit our web site at
www.terraxminerals.com.
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 Relations514-341-0408Toll Free:
1-866-460-0408info@paradox-pr.caVanguard Shareholder
Solutions604-608-0824Toll Free:
855-508-0824ir@vanguardsolutions.ca
Terrax Minerals (TSXV:TXR)
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