Click here to close now.


News Feed Item

TerraX Completes Drilling at Homer Lake and Moves Drill #1 to Barney Shear, Yellowknife City Gold Project; Drilling Continues With Drill #2 at Crestaurum Gold Deposit

YELLOWKNIFE, NORTHWEST TERRITORIES -- (Marketwired) -- 04/11/14 -- TerraX Minerals Inc. (TSX VENTURE: TXR)(FRANKFURT: TX0)(PINKSHEETS: TRXXF) has completed its planned four hole (1,000 m) drill program at the Homer Lake base metal/precious metal target and moved Drill #1 to the Barney Shear (28.32 m @ 2.97 g/t Au, inclusive of 4.00 m @ 12.59 g/t Au in news release August 14th, 2013) which is the extension of the Con Mine/Giant Mine shear system that has hosted more than 13 Moz of gold production from the two historic mines. The Barney Shear Zone is one of TerraX's primary gold targets on the Northbelt property of the Yellowknife City Gold Project ("YCGP") in the Northwest Territories. Drilling is still underway with a second drill at the nearby Crestaurum gold deposit, as announced on April 7, 2014.

The Barney Shear has been delineated over a strike length of 4.5 km by TerraX and previous workers and has only been drill tested by prior operators over a 600 m strike length. Surface mapping in June 2013 indicates that the Barney Shear Zone consists of multiple mineralized shears over a greater than 200 m width. The 2014 Barney Shear drilling will consist of up to 8 holes following the strike extension of the shear up to 300 m north of the mineralization defined in drilling carried out by Nebex Resources Ltd. in 1995 and 1996. In addition, TerraX will be re-entering the collars of 4 drill holes from the 1995-96 campaigns. These holes will be surveyed down hole to accurately determine the location of previously intersected zones of mineralization, and then multiple wedges will be turned off the original holes to generate additional mineralized intersections. This work is possible as the previous exploration drilling had left the original drill hole collars cased and capped to preserve them for future work on this important mineralized zone.

The first hole re-sampled by TerraX, NB95-16, was drilled on the Barney Shear by Nebex in 1995. TerraX's assay results include an interval of 20.86 m @ 3.79 g/t Au, inclusive of 4.00 m @ 12.59 g/t Au (news release of Aug 14, 2013). Holes NB-96-02 and NB96-04, drilled in 1996, were also re-logged and re-sampled by TerraX with assay results that included 8.16 m @ 5.06 g/t Au and 6.32 g/t Ag (NB96-02) and 27.00 m @ 1.9 g/t Au and 6.94 g/t Ag (NB96-04) (news release of Nov 14, 2014 ). The assay results from NB96-02 and NB96-04 are very encouraging as they confirm the strike continuation and substantial areal extent of the Barney Shear Zone. A map indicating the location of this prior drilling is available on our web site at

Drilling at Homer Lake commenced on March 25, 2014 and targeted a buried conductor identified by airborne surveys conducted by TerraX in 2013 that had never been drill-tested This target area was within 500 m of a previously established ice road which made winter access easier and allowed this drill program to be completed quickly with less environmental impact than would have been the case with overland access in summer conditions. Logging and sampling of drill core from Homer Lake is currently underway with assay results pending.

Homer Lake is not a traditional gold target as would be expected in a major gold belt like the Yellowknife Gold Camp. It was originally discovered from surface prospecting in the 1930s and six mineralized structures were delineated during reconnaissance prospecting by TerraX in the Homer Lake area in 2013. One structure has been traced by TerraX for 1,200 m and has chip sample results of 7 m @ 0.50 g/t Au, 90.2 g/t Ag, 4.25% Pb and 0.89% Zn. A parallel structure sampled by TerraX graded 5 m @ 1.54 g/t Au, 95.5 g/t Ag, 3.13% Pb and 1.59% Zn. A grab sample by TerraX from a third structure graded 0.60 g/t Au, 529 g/t Ag, greater than 20% Pb, and 9.44% Zn.

The technical information contained in this news release has been approved by Joseph Campbell, the President of TerraX, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

About the Yellowknife City Gold Project

The Yellowknife City Gold Project encompasses approximately 8,400 hectares of contiguous land immediately north of the City of Yellowknife in the Northwest Territories and includes TerraX's wholly-owned Northbelt property acquired in February 2013.

The Northbelt gold property encompasses 3,562 hectares on the prolific Yellowknife belt, all within 15 km of the city of Yellowknife, and covers 13 km of strike on the northern extension of the geology that contained the Giant (7.8 Moz) and Con (5.5 Moz) gold mines. The Northbelt property is host to multiple shears that are the recognized hosts for gold deposits in the Yellowknife camp and it contains innumerable gold showings and historic high grade drill results.

TerraX has carried out a strategy of acquiring prospective ground adjacent to Northbelt and in October 2013 entered into an option agreement whereby it can acquire a 100% interest in the Walsh Lake gold property, which is contiguous with and immediately east of Northbelt. The Walsh Lake property consists of seven leases and five claims totaling 6,659 acres (2,695 hectares). TerraX has also staked and acquired ground to the west of Northbelt to cover prospective geology that is on strike from Northbelt structures.

For more information on the Yellowknife City Gold Project, please visit our web site at

On behalf of the Board of Directors

Joseph Campbell, President

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 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).