Mining News: Northern Neighbors: TerraX extends three Yellowknife gold zones

TerraX Minerals Inc. Dec. 4 reported results from the first 19 holes of a 41-hole drill program completed at the Crestaurum Shear on its Yellowknife City Gold Project, immediately north of the capital of Northwest Territories. Most of the initial results were from drilling in the Central Shoot area of the shear. Highlights from 13 holes drilled at the Central Shoot include: TCR15-037, which cut 1.39 meters grading 40.52 grams per metric ton gold in in a newly discovered zone in the hanging wall of the main shear; and TCR15-040, which cut one meter of 13.6 g/t gold in the hanging wall zone. The Central Shoot historically has been the smallest mineralized zone along the main shear. However, TerraX says the discovery of a higher grade zone in the hanging wall indicates the potential of developing another high-grade shoot in the Central zone. The remaining six holes were drilled in the North Shoot area of the shear, highlights include: TCR15-048, which cut 2.87 meters of 6.01 g/t gold in in the main shear; and TCR15-045, which cut 2.45 meters of 4.72 g/t gold in the hanging wall zone. The surface expression indicates the new North Shoot hanging wall mineralization is on the same shear structure and 240 meters northeast from the hanging wall zone discovered in the Central Shoot area. On Dec. 8, TerraX reported results from the remaining 22 holes drilled at the Crestaurum Shear, all of which targeted the South Shoot. Highlights of this drilling include: TCR15-068, which cut 4.21 meters of 12.29 g/t gold; TCR15-052, which cut 10.8 meters of 3.49 g/t gold; TCR15-064, which cut 9.2 meters of 3.37 g/t gold; and TCR15-072, which cut 1.50 meters of 11.37 g/t gold. Several of the South Shoot holes also hit significant mineralization in hanging wall veins near surface. This hanging wall structure has been consistently mineralized with gold. It is unknown whether these hanging wall veins are related to the hanging wall structure in the Central and North Shoot areas of Crestaurum located roughly 500 meters to the northeast.

- Shane Lasley