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| June 19, 2014 --- Vol. 08, No. 25 | June 2014
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Northwest Territories
GOLD – TerraX Minerals Inc. June 17 reported the start of its summer field exploration programs on its Yellowknife City gold project in the Northwest Territories. Work over the coming weeks will include mapping and prospecting and surveying over the contiguous Northbelt, Walsh Lake, U-Breccia and Ryan Lake properties that make up the roughly 8,400-hectare (20,756 acres) project, with drilling to resume later this month when the water levels from spring breakup recede. TerraX reports that this spring has been particularly dry, and technical crews are now onsite assessing ground conditions for a possible early start-up of summer drilling. Summer surface work will cover multiple high value target areas on the YCGP. A concerted mapping and prospecting effort will be made on the Walsh Lake property following up positive results from surface sampling completed by TerraX in 2013, over only a two-day period, that included chip sampling of six meters averaging 7.29 grams per metric ton gold at the Mispickel Island showing, and 4 meters averaging 6.20 g/t gold on the Samex showing. On Northbelt, work will continue to follow up on zones discovered by TerraX during 2013 field work including the Crestaurum Southwest Zone (chip sampling of 4.0 meters averaging 24.26 g/t gold reported Nov. 6, 2013), and the Pinto Shear (grab sample of 49.3 g/t gold reported July 3, 2013). TerraX will also be conducting initial exploration along projected extensions of areas previously mined by Giant Mines along the southern boundary of the property (Lynx, GBK and C-Zone). While gold targeting will be our prime focus, Virginia Mines Inc. has offered to provide senior geologists to assist in following up on volcanogenic massive sulphide style mineralization encountered in TerraX’s surface sampling in 2013 (chip sample of 5.00 meters averaging 1.54 g/t gold, 95.5 g/t silver, 3.13 percent lead, 1.59 percent zinc reported July 3, 2013). This result was followed up by drilling in April of 2014 that intercepted a pervasively mineralized felsic volcanic with 71.15 meters averaging 0.25 g/t gold, 14.0 g/t silver, 0.73 percent lead, 0.57 percent zinc in hole TNB14-004 (inclusive of 3.42 meters averaging 3.41 g/t gold, 69.3 g/t silver, 3.67 percent lead, 3.17 percent zinc) reported on May 12, 2014. Mapping and prospecting will be directed at establishing the controls on this mineralization for follow-up drilling in 2015. As well, TerraX has contracted for a LIDAR survey (Light Detection and Ranging) to be carried out in June over the entire project. This survey will provide detailed elevation data of bare earth and vegetated terrain models, as well as a high resolution air-photo mosaic. This information will allow TerraX to trace mineralized shear zones (locally topographic lows); provide surface modelling for future NI 43-101 mineral resource estimation; and be an invaluable tool for detailed collar location planning for exploration and definition drill programs.
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