The first drill holes will be wedges to test the up dip extension of the Barney Shear Zone off relatively deep drill holes drilled by Nebex Resources in 1995 and 1996 that intersected the Barney Shear Zone at vertical depths of 240 to 280 meters below surface. The holes were left cased and capped to allow re-entry for further exploration of this zone. The previous drilling by Nebex were single holes per cross-section, and the wedges to be completed by TerraX will create multi-hole sections for geological modeling and potentially allow Terrax to complete an initial inferred resource estimate at Barney utilizing drill logs and core available to TerraX from the Nebex drilling.
TerraX has previously reported assay results from re-logging and sampling of the drill core from these holes that included:
- 20.86 m @ 3.79 g/t Au, inclusive of 4.00m @ 12.59 g/t Au, in hole NB 95-16 (news release of August 14, 2013),
- 8.16 m @ 5.06 g/t Au in hole NB 96-02 (news release of November 14, 2013), and
- 27.00 m @ 1.90 g/t Au, inclusive of 2.70 m @ 8.97 g/t Au in hole NB 96-04 (news release of November 14, 2013).
Hole 96-02 was collared 450 m west of NB 95-16. Hole NB 96-04 was collared 60 m north of NB 95-16 and was the northernmost hole drilled on the Barney Shear until drilling conducted by TerraX in April of 2014 reported a newly discovered northern extension to the Barney Zone (Barney North Extension), approximately 200 meters further north and 200 meters up dip of previous drilling (news release June 2, 2014). This drilling greatly expanded the strike and dip length of the Barney Zone.
Following drilling on the Barney Zone, TerraX will be drilling several holes on the Crestaurum zone to complete a program that began in April of this year in areas of historical holes drilled between 1945 and 1947. TerraX plans on leveraging historical exploration data to continue defining the extent and controlling structures of known mineralization on the Crestaurum and Barney shears, with the potential of establishing a modern resource estimate for both deposits this year. As well, ongoing field exploration (see June 17, 2014 News Release) will generate and prioritize targets for future drill programs on the multiple shears identified during TerraX’s 2013 exploration program and over 70 years of historical exploration records.