Mining News: Northern Neighbors: TerraX ready to drill Con Mine extensions

TerraX Minerals Inc. Dec. 21 posted results from surface mapping and prospecting on the Southbelt property of the Yellowknife City Gold Project. Southbelt is about five kilometers (three miles) south of the city of Yellowknife and extends from the mine leases of the historic Con Mine, where more than 6 million ounces of gold was produced duringr a 60 year mine life. TerraX says extensions of several mineralized trends previously mined at Con, including the namesake Con Shear, which appears to extend up to five kilometers (three miles) onto the Southbelt property. Other structures have been traced on surface for about 1,000 meters onto the Southbelt property. Sampling of these structures in 2015 returned up to 94.9 grams per metric ton gold and grab samples collected in 2016 returned 33.6 g/t and 16.4 g/t gold. “The extension of shear and vein systems with known historical production on to our Southbelt property make for very exciting targets for discovery of significant gold deposits,” said TerraX Chairman and CEO Joe Campbell. “The Southbelt contains multiple high-grade, high priority targets with very high potential for discovery.” To further test this potential, TerraX has applied for the permits required to begin drilling on Southbelt during the first quarter of 2017. The application is for a five-year permit that covers the entire Southbelt property, giving TerraX maximum exploration flexibility for making a discovery. Subsequent to the 2016 mapping and sampling programs, TerraX received the results of a LIDAR survey flown over Southbelt. TerraX said the high-resolution imaging from LiDAR flown in 2014 has proven valuable in defining and extending mineralized trends on the Northbelt properties, and it is expected to greatly enhance TerraX’s exploration efforts on Southbelt moving forward. Northbelt is a large land package that extends north from Yellowknife where TerraX has made a number of gold discoveries in recent years. TerraX says the six veins and shear zones it has discovered along this 10-kilometer- long (six miles) core area of Northbelt – Mispickel, Sam Otto, Barney, Herbert-Brent, 20 Shear and Crestaurum – are indicative of a larger mineralized system on the property.

-Shane Lasley