Yellowknife, Northwest Territories – TerraX Minerals Inc. (TSX-V:TXR; Frankfurt:TX0; OTC Pink:TRXXF) has received the first assay results from an extensive prospecting program (over 500 samples to date) currently underway on the Yellowknife City Gold Project (“YCGP”) immediately north of Yellowknife in the Northwest Territories.The sampling program reported today focused on sub-parallel structures to the Crestaurum Shear and northwest trending quartz veins and shears. One of these quartz veins, the newly discovered “VSB Vein” contains abundant visible gold over its entire 15 m exposed length, which is reflected in the four grab samples collected from this vein reporting gold assays of 34.9 g/t, 75.8 g/t, 346 g/t and 547 g/t Au respectively (see Table 1 below).Assay results, and the interpretation thereof, from both the ongoing drilling and sampling programs will be announced as they become available over the coming weeks.
Sixty samples were collected from a northeast-trending corridor 1.3 km long by 300 m wide, parallel to and including the Crestaurum Shear, a southeast-dipping shear that hosts the Crestaurum gold deposit, which has been drill tested by almost 200 holes, with drill intercepts that include 5 m at 62.90 g/t Au (news release of October 2, 2013).All but two of TerraX’s samples from this prospecting campaign were grab samples. Assay values ranged from below detection (16 samples) to 547 g/t Au. Twelve samples had greater than 5 g/t Au. Notable values were taken from three separate locations:
- the newly discovered VSB Vein
- an easterly-trending quartz vein; and
- a northwest-trending quartz vein.