Mining News: Northern Neighbors: TerraX triples Yellowknife City Gold

TerraX Minerals Inc. Feb. 1 said it has tripled the size of its Yellowknife City Gold project by staking 253 square kilometers (98 square miles) of mining claims adjacent to the Northwest Territories project. The company said this additional ground was staked based on extensive research completed on prospective surrounding lands over the past three years. The three new land blocks added to the Yellowknife project include: a northern extension to the Northbelt property covering prospective geology on the west side of the greenstone belt that host the historic Con and Giant gold mines; a block on the east side of the Southbelt property covering the southern extension of the prolific Campbell Shear, the source of more than 5 million ounces of gold production at the Con Mine; and a large block of ground in the Burwash sediments, which hosted four other historical mines in the area. TerraX has begun compiling the historical data on the new ground and is planning comprehensive geophysical, geochemical, mapping and prospecting surveys across these properties in 2017. This plan follows the pattern of exploration that has resulted in gold discoveries the Northbelt property and identified exciting new drill targets on the Southbelt claim block. "Since the beginning of the Yellowknife City Gold project we have pursued a goal of assembling and controlling a major Canadian gold district. The acquisition of this highly prospective new ground completes that goal and provides TerraX shareholders with additional opportunities for high-grade gold discoveries,” said TerraX CEO Joseph Campbell. “We are very much looking forward to our 2017 drill campaigns, which are expected to commence shortly."

-Shane Lasley