Mining News: Northern Neighbors: TerraX, Osisko began YCG fieldwork

TerraX Minerals Inc. June 9 reported the start of field work on the Yellowknife City Gold Project with the assistance of technical staff from Osisko Gold Royalties Ltd. This cooperative work follows Osisko’s agreement to invest C$2.5 million in TerraX by way of a private placement currently being finalized. The field work, which is focused on mapping structurally controlled gold targets identified by geophysical and geological programs, will help prioritize drill targets for the summer program scheduled to start in mid-July. The program also will include an orientation geochemical exploration program and field checking of radiometric anomalies identified by a 2013 airborne geophysical program. The current work programs will be partly funded by a grant from the Mineral Incentive Program that the Government of Northwest Territories initiated in 2014 to stimulate and sustain mineral exploration activities throughout the territory.

- Shane Lasley