TerraX Minerals Inc. (TSXV: TXR) (OTC Pink: TRXXF) (FSE: TX0) is pleased to report channel sample results from the Sam Otto South zone on Screamer Island. Sam Otto South is up to 3.5 km south and along trend from the main Sam Otto and extends the potential strike length of that target area to over 5 km. Channel sample results confirm the extension of the Sam Otto zone 1.5 kilometers south of the currently drilled Sam Otto main zone (see map here) (https://terraxminerals.com/projects/yellowknife-city-gold/field-exploration-2017/#feb-1-2018).
Joe Campbell, the Chief Executive Officer of TerraX, states: “The channel results reported here, coupled with drilling at the Sam Otto main zone, confirm a consistent 100-meter-wide gold zone, over a strike length of 2.2 kilometers. The drilled and channel sampled areas are themselves contained within a larger area indicated by surface sampling and geophysics, showing the potential for five kilometers of strike length. TerraX expects the planned 2018 drill programs on this new strike extension to greatly increase the overall strike and depth of the currently modelled mineralized zone at Sam Otto.”
The widest channel sampling area is located 1.2 kilometers south of TerraX’s drilling on the Sam Otto main zone and assayed 17.50 m @ 0.80 g/t Au, including 11.0 m @ 1.09 g/t Au. Importantly, this channel ended in good mineralization with 3.40 m @ 1.31 g/t Au before the outcrop was covered by overburden and vegetation. Other results included surface outcrops a further 350 meters south with channel samples of 2.7 m @ 0.97 g/t Au and 2.00 m @ 0.81 g/t Au. Both ends of the exposed outcrop ended in gram level gold assays. Together, the separate channels covered at least 100 meters width across strike, which is comparable to the width and grade of the Sam Otto Main zone.
Channel assays reported today total 202 samples with gold grades ranging from nil to 4.64 g/t Au. Channel samples are considered representative of the zones that have been sampled.
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 technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”
About the Yellowknife City Gold Project
The Yellowknife City Gold (“YCG”) encompasses 440 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted 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 recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.
For more information on the YCG project, please visit our web site at www.terraxminerals.com.
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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.