Vancouver, B.C. - TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce that it has completed the summer phase of the recently announced 27,000 metre drill program on the Yellowknife City Gold Project (“YCG”), immediately north of Yellowknife in the Northwest Territories. The summer program was expanded to include three drills on multiple drill targets, with 36 holes completed totaling 10,078 metres. The Company has received and reported assays from the first 4 holes (1,076 m) from this program, with all four holes intersecting significant zones of mineralization at Mispickel that included 5.53 m of 29.85 g/t Au in the hanging wall and 3.00 of 22.44 g/t Au in the main zone of drill hole TWL16-020 (see our news release of September 22, 2016). Assay results are pending from the remaining holes, which are anticipated to be continuously released when available over the balance of the year, followed by the resumption of drilling in early January 2017.
A map and cross sections showing the location of the drill holes reported to date from the summer phase of drilling on the YCG are available on our web site under “Mispickel 2016 Field Exploration” under the “Walsh Lake” property section.
Stuart Rogers, the President of TerraX, commented “We are looking forward to receiving and reporting the results from our summer drill program while we refine drill targets for drilling in January. The next twelve months will be extremely busy for us as we plan to test a multitude of new high-grade gold targets identified this summer across our entire land position in what has historically been one of the highest grade gold districts in Canada.”
The technical information contained in this news release has been approved by Joseph Campbell, P.Geo, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”