Mining News: Northern Neighbors: TerraX continues to grow Mispickel zone

TerraX Minerals Inc. Nov. 10 reported results from another eight holes targeting the Mispickel zone at the company’s Yellowknife City Gold Project, immediately north of Northwest Territories’ capital. All eight holes intersected multiple zones of gold mineralization, including a newly discovered deeper zone that was tapped in two. Highlights include: 7.4 meters of 10.17 grams per metric ton gold in the main zone of hole TWL16-026; 8 meters of 6.45 g/t gold in the main zone and 4.34 meters of 2.22 g/t gold in the in the footwall zone of hole TWL16-029; and 7 meters of 1.02 g/t gold in the hanging wall zone of TWL16-030. “These drill results show that the structures hosting the high-grade gold zones within the Mispickel system have significant continuity at depth and along strike. In addition, the higher grade intersections are displaying the classic lode gold geometry common to Archean gold systems in Canada. The persistence of the mineralizing structures with pervasive gold mineralization throughout the holes continues to indicate a large mineralizing system,” said TerraX CEO Joseph Campbell. Earlier this year, TerraX launched a 27,000-meter drill program that began this summer and will continue into 2017. During the summer phase of this program, 15 holes for about 5,200 meters were drilled at Mispickel to follow up on nine holes during the winter of 2016 that cut up to 8 meters of 60.60 g/t gold. The first four holes drilled at Mispickel this summer were reported in September and included 5.53 meters of 29.85 g/t gold in the hanging wall and 3 meters of 22.44 g/t gold in the main zone of hole TWL16-020. Assays are pending from three additional holes completed at Mispickel and 21 holes drilled at other targets. “We look forward to receiving the results from the remaining 24 holes drilled this summer on multiple targets and the resumption of drilling in January, 2017. We are fully funded for the balance of this 27,000-meter drill program and are excited about the potential for additional high-grade discoveries in this established gold district,” Campbell added.

-Shane Lasley