TerraX Minerals Inc.
TSX VENTURE : TXR
FRANKFURT : TX0
OTC PINK : TRXXF

TerraX Minerals Inc.

September 08, 2015 07:00 ET

TerraX Discovers New High Grade Gold Zones at Yellowknife City Gold; Channel Samples 6.0 m @ 10.26 g/t Au Across Strike on Hebert-Brent Shear

YELLOWKNIFE, NORTHWEST TERRITORIES--(Marketwired - Sept. 8, 2015) - TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TX0)(OTC PINK:TRXXF) has received results from channel sampling of additional new zones of mineralization on the Hebert-Brent Shear (11.0 m @ 7.55 g/t Au reported August 11, 2015) at Yellowknife City Gold ("YCG"), immediately north of Yellowknife in the Northwest Territories. Assays from cut channel sampling across the strike of two zones returned:

  • 6.0 m @ 10.26 g/t Au ("Hebert-Brent South") and
  • 15.3 m @ 2.23 g/t Au, including 6.00m @ 4.05 g/t Au ("Hebert-Brent East").

These result are highly significant, indicating high grade zones of mineralization across a sheared area approximately 80 metres wide in the Hebert-Brent Shear area which is 1 km south and on strike with the Barney Zone drilled in 2014 (22.42 m @ 6.35 g/t Au in hole NB95-16W1 - see our news release of August 25, 2014), all within the newly mapped deformation zone called the Barney Deformation Corridor ("BDC").

Joe Campbell, P. Geo, President of TerraX, states "These high grade sampling results give added confirmation of the gold endowment in the recently discovered Hebert-Brent Shear area. Despite 75 years of exploration on the YCG property this outstanding area of gold mineralization went undiscovered, with no previous surface workings or drilling prior to TerraX's work in 2014 and 2015. This exploration success is a strong endorsement of our corporate strategy to acquire property and explore within an established major Canadian Gold camp."

The trench on the Hebert-Brent South zone is located approximately 75 metres south of the original channel samples reported on August 11, 2015 (11.0 m @ 7.55 g/t Au) and returned 6.0 m @ 10.26 g/t Au. The Hebert-Brent South Zone is potentially the strike extension of the original Hebert-Brent Zone, or is a closely parallel zone.

The Hebert-Brent East trench is 45 metres east and across strike from the original Hebert-Brent zone and returned 15.3 m @ 2.23 g/t Au, including 6.00 m @ 4.05 g/t Au. The Hebert-Brent East Zone is interpreted as a new mineralized structure parallel to the Hebert-Brent Zone. Cursory examination of the area between the Hebert-Brent and Hebert-Brent East Zones suggests significant additional mineralization, including the original Brent showing (44 g/t Au in a grab sample), and outcrops of altered and sheared mafic volcanics and felsic intrusions. This area will be subjected to further detailed exploration work.

Channel results were from contiguous one (1) metre channel samples, except for the most westerly sample in the Hebert-Brent East zone which was 1.30 metres long. Maps and pictures of the sampled areas described in this news release are available under "Barney Deformation Corridor" on our web site at www.terraxminerals.com.

Hebert-Brent South

Sample ID From (m) To (m) Interval (m) Au g/t
Q635117 0.00 1.00 1.00 16.35
Q635118 1.00 2.00 1.00 1.38
Q635119 2.00 3.00 1.00 1.72
Q635121 3.00 4.00 1.00 18.80
Q635122 4.00 5.00 1.00 16.45
Q635123 5.00 6.00 1.00 6.87

Hebert-Brent East

Sample ID From (m) To (m) Interval (m) Au g/t
Q635101 0.00 1.00 1.00 1.97
Q635102 1.00 2.00 1.00 10.80
Q635103 2.00 3.00 1.00 4.23
Q635104 3.00 4.00 1.00 2.86
Q635105 4.00 5.00 1.00 1.89
Q635106 5.00 6.00 1.00 2.53
Q635107 6.00 7.00 1.00 0.75
Q635108 7.00 8.00 1.00 1.13
Q635109 8.00 9.00 1.00 0.76
Q635111 9.00 10.00 1.00 1.29
Q635112 10.00 11.00 1.00 1.04
Q635113 11.00 12.00 1.00 1.50
Q635114 12.00 13.00 1.00 1.35
Q635115 13.00 14.00 1.00 1.13
Q635116 14.00 15.30 1.30 0.68

Additional zones of mineralization have been sampled and assay results are pending. A program of more extensive stripping and channel sampling at Hebert-Brent has also been initiated to further expose the across strike dimensions of the reported channel sampled areas, as none of the three zones have been delimited across or along strike yet. All this surface work is being conducted to assist in the successful planning of a first phase drilling program in the Hebert-Brent Shear area.

Sampling included insertion of certified standards and blanks into the stream of samples for chemical analysis. Samples were prepared at ALS Chemex's laboratory in Yellowknife and shipped to their Vancouver facility for gold analysis by fire assay and other elements by ICP analysis. ALS is a certified and accredited laboratory service.

The channel samples reported here are considered representative of the overall grade and extent of mineralization on the subject areas. For grab samples also mentioned in this news release, and illustrated on maps, it should be noted that due to their selective nature assay results from grab samples may not be indicative of the overall grade and extent of mineralization on the subject area. The technical information contained in this news release has been approved by Joseph Campbell, President of TerraX, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

About the Hebert-Brent Shear

Geological mapping in June and July identified areas of extensive sericite alteration which occurs in a recognizable structural zone called the Barney Deformation Corridor (see August 11, 2015 news release for more detail). The altered areas in the Hebert-Brent Shear area are approximately 1 km south and on strike with the Barney Zone drilled by TerraX in 2014 and winter 2015. Mineralization appears to be related to east-southeast trending felsic dykes crossing north and north-east shear zones with dextral deformation/rotation into the shears. Higher grade areas of mineralization are also recognized at the contacts of the felsic dykes with mafic volcanics and gabbros. Channel sampling was carried out in one area of visible sulphide mineralization in July 2015, and this new zone was coined the "Hebert-Brent Zone". Subsequent exploration and mapping in the area of the Hebert-Brent Zone revealed several other similarly mineralized zones within a definable area of intense shearing and sericite alteration. This broader area has been termed the Hebert-Brent Shear. The results presented today are from the first two of these additional mineralized zones that are being channel sampled.

About the Yellowknife City Gold Project

The Yellowknife City Gold Project encompasses approximately 99.3 sq km of contiguous land immediately north of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX now controls one of the six major high-grade gold camps in Canada - and the least explored.

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 area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and high grade drill results this past year that serve to indicate the project's potential as a world-class gold district. Since February 2013, TerraX has consolidated the project area by acquiring, optioning and staking 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 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled trades people.

For more information on 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.

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