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TerraX prospecting discovers new targets at Yellowknife Gold

 

Last updated 1/10/2016 at Noon



TerraX Minerals Inc. Jan. 5 reported final results from a fall surface exploration program at its Yellowknife City Gold Project, situated immediately north of the capital of Northwest Territories.

This final batch of results included additional high-grade discoveries at the property's core gold area.

Visible gold was identified in a newly discovered vein about 200 meters southeast of the Pinto structure.

Assays from grab sampling in this area returned 108 grams per metric ton gold, 65.7 g/t gold and 35.2 g/t gold.

Roughly 1,500 meters to the west, numerous quartz veins in the JED area returned assay of 133.5 g/t gold, 30.4 g/t gold and 20.6 g/t gold.

The fall sampling also encountered strong polymetallic mineralization.

The Ryan Lake pluton, located south of JED, returned assays of up to 12.35 g/t gold, 45 g/t silver, 3.23 percent lead, 1.31 percent zinc, and 0.53 percent molybdenum in separate samples.

At Shear 17/18, located west of the JED area, sampling yielded up to 4.94 g/t gold, 51.9 g/t silver and 1.24 copper in separate samples.

These samples also returned greater than one percent molybdenum, which exceeded the detection limit, so final assays are pending.

The fall sampling also identified three new areas that are similar to the Hebert-Brent (H-B) area.

Considering the recent success in drilling at the Hebert-Brent discovery, TerraX said the three similar areas are priority targets for continued exploration.

One of the new priority areas is a southern fault offset of Hebert-Brent.

Structural interpretation indicates that the southern extension of the Hebert-Brent stratigraphy is offset roughly 500 meters northeast.

TerraX says this southern offset contains all the favorable rock types, and is transected by mineralized structures that include gold assays up to 19.7 g/t gold in grab sampling.

These samples also contain anomalous levels of antimony and arsenic, which are characteristic of the Hebert-Brent replacement-style gold mineralization.

The Sericite zone, located about 1,000 meters northeast of Hebert-Brent, is another priority target.

The alteration zone at Sericite is up to five times larger than Hebert-Brent.

Sampling in this area has returned low-grade gold, with anomalous silver and antimony.

Townsite Formation, the third-priority target, is a large area of favorable geology with extensive sericitic and carbonate alteration with associated gold mineralization.

Grab sampling in 2015 returned large areas of anomalous gold up to 6.57 g/t gold, base metals and silver.

Townsite has received very little exploration attention, and TerraX intends to carry out detailed mapping and sampling of this area in 2016.

Follow-up exploration on the other targets identified during the fall program will also be carried out this year.

Additionally, TerraX said it will soon be announcing multiple high-priority targets for its 2016 winter drill program, scheduled to begin in mid-January.

TerraX is fully funded to carry out all its budgeted exploration programs in 2016.

 

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