Extensive summer drill program underway at Yellowknife City Gold
Last updated 8/7/2016 at Noon
TerraX Minerals Inc. July 28 reported the start of a 27,000-meter drill program at its Yellowknife City Gold project in the Northwest Territories.
Drilling is now underway on the Mispickel target, where discovery drilling during the winter of 2016 program cut 8.6 meters averaging 12.87 grams per metric ton gold and 7.3 meters of 23.6 g/t gold.
Encouraged by these results, the company drilled five more holes at Mispickel at the end of the winter program.
The best intercept of this second round of drilling encountered eight meters of 60.6 g/t gold down dip on that same section as the discovery.
TerraX said this summer's drill program is the first phase of an extensive exploration drill program to be undertaken at the Yellowknife project during the next 18 months.
Drilling will be a combination of extensional drilling on known mineralized zones such as Mispickel; aggressive step-out holes along the structures hosting known zones, such as a 5,000-meter trend hosting Mispickel; and drilling focused on generating new discoveries.
The drill program will continue until freeze-up in early October and resume in early January of 2017, continuing through the balance of 2017.
"The Yellowknife gold district was historically one of the highest grade gold districts in Canada and our exploration results have shown that the district has much more to offer," said TerraX President Joe Campbell.
"Until TerraX's recent consolidation of the district it had not been explored with a district-scale coordinated program using modern techniques.
This fresh approach has resulted in a number of new high-grade gold discoveries, and we expect to continue to find more of the same this year."