Mining Explorers 2017: TerraX Minerals Inc.

TerraX Minerals Inc. is carrying out year-round exploration aimed at unlocking a multi-million-ounce gold district at its Yellowknife City Gold Project, a 418-square kilometer (161 square miles) property north, south and east of the capital of Northwest Territories. Blanketing the same geological trend that hosts the historic Con and Giant mines, which produced a combined 14.2 million oz of gold, the three properties that make up the YCGP – Northbelt, Southbelt and Eastbelt – cover a region known for yielding deposits of the scale and grade to be counted among Canada’s great gold camps. To date, most of the company’s exploration success has been along the “core gold area” of Northbelt, a property that extends north from Yellowknife and the historic mines. TerraX says the gold discoveries it has made along this six-kilometer- (3.7 miles) long corridor – Mispickel, Sam Otto-Dave’s Pond, Barney, Herbert-Brent, Barney, Shear 20,Crestaurum and Townsite – are indicative of a larger mineralized system. These were the primary targets of a 17,000-meter drill program that began in February. Three zones covering an 850-meter stretch of the core area – Dave’s Pond, Sam Otto and Mispickel – were of particular interest to TerraX this year. Highlights from winter drilling in this area include 8.8 meter of 2.33 g/t gold; 3.32 meters of 6.96 g/t gold; and 1.9 meters of 13.96 g/t gold.

In February, TerraX announced the staking of Eastbelt, which consists of three new land blocks at YCGP: a northern extension to the Northbelt property covering; a block on the east side of the Southbelt; and a large block of ground in the Burwash sediments, which hosted four historical mines in the area. This 40-kilometer- (25 miles) long expansion of YCGP hosts a wide variety of exploration targets – porphyry hosted gold, high-grade gold-silver and base metal. The two most significant Eastbelt prospects identified so far – Angel and Duck Lake – are roughly 2,500 meters and 8,000 meters east of the historical Con Mine, respectively. Highlights from outcrop samples collected at Angel include 65.7 g/t gold and 289 g/t silver; and 30.8 g/t gold and 4,910 g/t silver. The highest grade samples from Duck Lake are 20.3 g/t and 19.35 g/t gold.

In September, TerraX budgeted an additional C$1.8 million for 2017 exploration. This extended program includes extensive geophysical surveys on new and established drill targets and comprehensive biogeochemical surveys over large areas of the property covered by swamps and overburden.