Joe Campbell, President of TerraX Minerals, states “The discovery of replacement style mineralization at Hebert-Brent last year, as well as the high grade gold discovery at Mispickel this winter, has laid to rest the myth that there is no high-grade gold left to be discovered in this major Canadian mining camp. After our success in 2015 discovering new zones of previously unreported high-grade gold mineralization with only a modest field exploration budget we have decided to increase our surface exploration expenditure four-fold this summer in order to fully understand the potential mineral endowment on the Yellowknife City Gold project area, which has never been fully explored with modern mineral exploration technology.”
The focus of the work will be:
- Comprehensive field mapping and rock sampling to identify extensions to new areas of mineralization such as the Mispickel zone (8.00 m @ 60.60 g/t Au from drilling reported June 6th, 2016). The Mispickel mineralized structure has been identified in geophysics and historical exploration reports over approximately 5 kilometers of strike length. Summer field work will investigate areas of historical trenching along the mineralized structure to the north of TerraX’s recently reported drilling.
- Identifying new areas of mineralization, particularly sulphide replacement style zones as demonstrated with TerraX’s discovery of the Hebert-Brent Zone (11.00 m @ 7.55 g/t Au in channels reported August 11, 2015). The search for sulphide replacement drill targets will focus on three areas identified in the fall of 2015 that have surface expressions of the alteration types associated with the Hebert-Brent zone, but with significantly larger areal extent.
- Mapping and sampling the Southbelt property to follow up on 2015 surface sampling (grab samples up to 94.9 g/t Au - see our news release of September 23, 2015). It is anticipated that drill targets will be identified on Southbelt for winter drilling in early 2017.