Mining News: TerraX triples YCGP

TerraX Minerals Inc. June 27 said it has begun exploring its expanded Yellowknife City Gold project, immediately adjacent to the city of Yellowknife, Northwest Territories. This includes preliminary work on Eastbelt, a 290 square-kilometer (112 square miles) property that triples the size of the Yellowknife project. "As a result of our continued drilling success, improving market conditions and the ease of access to exploration adjacent to a mining town we have tripled our land holdings at Yellowknife to over 418 square kilometers (161 square miles), said TerraX CEO Joe Campbell. The company recently completed a high-resolution airborne Lidar (light detection and ranging) and ortho-photo survey on 350 square kilometers of the property. In the next few weeks, TerraX will be conducting electro-magnetic, magnetic and radiometric geophysical surveys over all areas of the project that have not previously been surveyed. In addition, ground-based magnetic surveys will be conducted in areas of known high-grade gold mineralization to identify drill targets that could expand the zones along strike and at depth. Field work on the newly acquired Eastbelt property has included comprehensive field mapping and sampling of historic trenches in known areas of gold mineralization. TerraX said this work will continue throughout the summer and be complemented by an extensive till and lake sediment sampling program to provide a comprehensive dataset to identify mineralized trends in areas of the property covered by overburden and water. Additionally, TerraX said it has once again been awarded a C$200,000 Mineral Incentive Program grant by the government of the Northwest Territories.

–SHANE LASLEY