We recently interviewed Stuart Rogers, President of TerraX Minerals (V.TXR) about the progress the company is making at its district-scale exploration project surrounding (literally) Yellowkinfe, NWT.
This past summer was spent on doing fieldwork on both the ground the company is drilling and new ground which the company believes is highly prospective. (The fact the new ground hosted a number of historic, high grade, mines suggests there is still lots of gold to be found using modern exploration methods.)
Today, Terrax put out a press release detailing sampling results from just one of its new high-grade targets, Duck Lake to the south-east of Yellowknife. Joe Campbell, CEO of TerraX is quoted as saying, “Our summer/fall field program at Yellowknife City Gold has been extremely successful, identifying 8 new target areas with significant potential for additional high-grade gold discoveries in the near future. At Duck Lake, we are very excited by the potential for a Val d’Or type deposit. We have greatly expanded the mineralized zones and strike length surrounding targets such as Walsh Lake, Screamer Island and Homer Gold. Newly identified targets, such as Angel, Burwash, Anton, Ryan Lake and Duck Lake, provide us with further opportunities for new high-grade gold discoveries on a district scale at Yellowknife City Gold.”
So far the market has been impressed adding 4.5 cents, or just over 11.5% to Terrax’s share price.
However, for investors, today’s news is a broad hint of the news flow to come. Each of the new target properties has been sampled and similar news releases will be coming out throughout the rest of the year. Then Terrax will start turning the drills on the targets it has identified and with a lab just around the corner, drill results should start flowing in the early New Year.
For junior explorers a solid, regular, news flow is critical and TerraX looks ready to make regular, hard news, announcements well into 2018.