SOURCE: Streetwise Reports

Streetwise Reports

May 11, 2017 02:29 ET

Drilling Extends Strike at TerraX's Yellowknife City Project

SAN FRANCISCO, CA--(Marketwired - May 11, 2017) - The assay results that TerraX Minerals Inc. (TSX VENTURE: TXR) released give it plenty of targets to follow up with at its Yellowknife City Gold Project.

Company included in article: TerraX Minerals Inc.

TerraX Minerals Inc. (TSX VENTURE: TXR) has released assay results for the first 22 holes of its 43-hole 2017 winter drill program at the Yellowknife City Gold Project in Canada's Northwest Territories. Six holes were drilled at Dave's Pond and were designed to test 400 meters to the north and south of the discovery hole that intercepted 2.40 meters at 9.89 grams per tonne (9.89 g/t) in 2016.

According to TerraX CEO Joseph Campbell, the "high grade multi-gram gold intersections confirm the continuity of the Dave's Pond structure along strike. This supports our belief that this area hosts classic high grade lode gold targets common to Archean gold systems in Canada."

Gwen Preston, writing in Resource Maven on May 3, noted that the six Dave's Pond holes "hit gold, defining a zone 400 metres long. Highlight results were 3.3 metres of 7 g/t gold, 2 metres of 9.2 g/t gold, 2 metres of 4.8 g/t gold, and 1.9 metres of 14 g/t gold. Three of the holes also hit a second smaller mineralized structure in the footwall."

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