TerraX expands Yellowknife City Gold field exploration program
September 12, 2017 (Source) — TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0; OTC: TRXXF) is pleased to announce that it has budgeted an additional $1.8 Million in field exploration spending at the Yellowknife City Gold project to follow up on promising exploration targets identified during the summer field work. This work will be carried out between now and the end of 2017 and will include extensive ground magnetic and induced polarized (IP) surveys on new and established drill targets and comprehensive biogeochemical surveys over large areas of the property covered by swamps and overburden.
So far this summer, TerraX has completed extensive surface exploration on the Yellowknife City gold project, with over 5,000 surface and channel samples from numerous target areas having been delivered to the lab for analysis, with assay results pending. Terrax has also completed electromagnetic, magnetic and radiometric geophysical surveys totaling approximately 3,200 line kilometres and ground-based magnetic surveys on known high-grade gold zones in preparation for drilling later this season.
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TerraX also wishes to advise that the exercise price of the 1,970,000 incentive stock options announced on September 8, 2017 should actually be $0.61 per share. The $0.51 per share price was reported in error. These options will vest over an eighteen month period.
On behalf of the Board of Directors
“STUART ROGERS ”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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