TerraX finishes Yellowknife winter drilling

TerraX Minerals Inc. May 8 said it completed 5,684 meters of winter drilling at its Yellowknife City Gold project, including four holes that extended the high-grade Crestaurum gold bearing structure to a depth of 300 meters.

The 187 previously drilled holes Crestaurum had traced the structure along 1,400 meters of strike length and to a depth of roughly 150 meters, outlining a deposit with grades as high as 62.9 grams per metric ton gold over five meters. Although the structure is very continuous, TerraX said the high-grade lodes are more discrete and the four initial widespread deeper holes drilled this winter were designed to intersect structure to determine whether there was probability of high-grade lodes continuing at depth.

TerraX reports that all four holes hit gold mineralization, with two holes containing visible gold.

Highlighted intersects include 2.49 meters of 8.84 g/t gold in hole TCR18-076; 0.56 meters of 3.86 g/t gold in TCR18-077; 2.8 meters of 3.08 g/t gold and 2.06 meters of 5.57 g/t gold in TCR18-078; and 1.24 meters of 13.3 g/t gold in TCR18-079.

"This small program of four holes successfully demonstrated that the Crestaurum zone continues at depth on multiple surfaces, potentially doubling the size of the zone," said TerraX CEO Joe Campbell. "The 300-meter vertical depth tested with these holes is still considered very shallow for Archean lode gold deposits and mineralization remains open for further expansion, both along strike and at depth."

TerraX also tested the Sam Otto West zone, another lode style shear and vein deposit near TerraX's Sam Otto Main zone, where last year's drilling cut 1.9 meters of 13.96 g/t gold.

All five holes drill at Sam Otto west hit the targeted gold mineralized structure. The best intercepts from this drilling are 2.69 meter of 3 g/t gold in hole TSO18-038; four meters of 1.06 g/t gold in TSO18-041; and 2.7 meters of 1.32 g/t gold in TSO18-036.

TerraX said the continuous presence of the gold mineralized structures that now extend over more than 1,000 meters of strike and to a depth of 250 meters, with alteration and mineralization styles similar to the high-grade zones from the nearby historic Con and Giant mines, makes Sam Otto West a good target for continued exploration.

–SHANE LASLEY