TerraX Minerals continues to strike very high grade gold at their Yellowknife City Gold Project

TerraX Minerals Inc. (TSXV: TXR) is a Canadian junior exploration company that 100% owns the Yellowknife City Gold Project in Northwest Territories Canada. The company has a 772 square kilometer land package, which includes a 70 kilometer mineralized strike zone, all in a district known for significant gold discoveries.

The project is adjacent to the Con and Giant Mines, two of Canada’s highest grade historic gold mines. The project is broken up into segments – Northbelt (North of Yellowknife City), Eastbelt, and Southbelt.

Terra X Yellowknife City Gold Project zones

TerraX has already drilled approximately 50,000 meters and has a historic drilling data base of 37,500m. In 2017 the Company established multiple high-grade gold discoveries with 8 new targets identified. As the chart below shows results have been very good with some excellent grades including the very high grade results at Walsh Lake (8.0m @60.6g/t Au). At the Crestaurum deposit at Ryan Lake the Company announced this month more good news: “TerraX extends Crestaurum zone to 300 meters vertical depth, doubling size of known mineralized structure.” Drill results at Crestaurum have also been excellent including 5.00m at 62.9g/t Au.

Northbelt drill results

Joe Campbell, CEO of TerraX, stated: “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. 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.”

The chart below compares the Northbelt discoveries to date with the neighboring past producing gold mines of Giant Mine and Con Mine. Giant Mine produced over 7,000,000 ounces of gold, and Con Mine produced over 5,000,000 ounces of gold.

Northbelt growing resource compared to neighbors Giant Mine and Con Mine

Within the Northbelt there are several additional target zones such as the very promising Ryan Lake high-grade Au-Ag-Mo-Cu porphyry deposit which is yet to be drilled. It has very high grade surface samples (Au-5 samples >30 g/t, Ag-32 samples >10 g/t, Cu-42 samples > 3 %, Mo-53 samples > 0.10 %. A trench sample returned 2.0m @ 21.40 g/t Au.

The Eastbelt also has potential and includes past producing mines: Burwash gold mine (avg. grade of 13.6 oz/tonne gold) and the Ptarmigan gold mine (avg. grade 9.56 g/t Au).

Access and infrastructure to the Yellowknife City Gold Project are both good. There is an all-season road accessible for the entire property all within 8 km of the city of Yellowknife. The project is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.

Near term catalysts include field exploration to begin in June 2018, with a high potential for new discoveries which would be followed by further drilling.

TerraX market cap is CAD $42m.  There is no doubt drill results to date have been very promising and a considerable resource is looking more and more likely. Any news of a resource estimate and PFS should help propel the stock price higher.

In conclusion, TerraX Minerals offer investors a very promising investment in a Canadian exploration junior with excellent exploration upside. Some patience is required but all the signs of success are there.