(TSX.V: TXR; Frankfurt: TX0) has completed its initial exploration programs on its wholly-owned Northbelt property in the Yellowknife gold camp, Northwest Territories. These programs included a detailed airborne magnetic, electromagnetic (EM) and radiometric survey as well as a three week field program. TerraX’s initial field work concentrated on locating historical drill collars in the field, preliminary surface sampling and first-pass examination of the airborne EM anomalies. In addition, Terrax was able to locate drill core from 176 holes drilled by prior operators. One hole has been re-logged and re-sampled, with assay results pending.
The Northbelt gold property encompasses 3,562 hectares on the prolific Yellowknife belt, 15 km north of the city of Yellowknife, and covers 13 km of strike on the northern extension of the geology that contained the Giant (7.6 Moz) and Con (5.5 Moz) gold mines. The property is host to multiple shears that are the recognized hosts for gold deposits in the Yellowknife camp and it contains innumerable gold showings.
The airborne geophysical survey was conducted by Aeroquest Ltd. of Aurora, Ontario. The survey consisted of a total of 520 line km, comprised of east-west lines spaced 100 m apart, and two north-south tie lines 3 km apart. While only preliminary data has been received to date, the magnetic survey revealed a major magnetic high in the northern part of the property, as well as strong north-northeast anomaly orientations interpreted to be caused by both stratigraphy and structures. The preliminary radiometric count-per-second (CPS) data for potassium showed highs corresponding to granites, and several moderate strength north-northeast trending linear highs that could represent hydrothermal alteration along mineralized structures.
The EM survey revealed a 1.2 km long, north-trending conductor in the northern part of the property, 400 m of which is highly conductive. The source of this conductor is not apparent from surface examination, but numerous base metal occurrences are present in the general area (see below). A 4 km long, north-northeast trending intermittent conductor is present in the central part of the property, and an 800 m long conductor is present in the southern part of the property. Small amounts of graphitic sediments were noted in the central part of the property, and initial reconnaissance of the southern anomaly indicated that it likely has a structural association. Preliminary images of the geophysical data are provided on our website at
TerraX Minerals Inc.