Click here to close now.




















Welcome!

News Feed Item

TerraX Drills 71m of Sulphide Mineralization in Felsic Volcanics at Homer Lake, Yellowknife; Includes 3.42m of Massive Sulphides Grading @ 3.41g/t Au, 69.3g/t Ag, 3.67% Pb, 3.17% Zn

YELLOWKNIFE, NORTHWEST TERRITORIES -- (Marketwired) -- 05/12/14 -- TerraX Minerals Inc. (TSX VENTURE:TXR)(PINKSHEETS:TRXXF)(FRANKFURT:TX0) has received assay results from the first four holes drilled during the recently completed winter drill program at Northbelt, Yellowknife City Gold Project. These holes were drilled at the Homer Lake base metal target, which is located within 15 km of the city of Yellowknife and just 2 km from the new Bluefish Hydro Dam opened in July 2013. Assay results from nine holes drilled on TerraX's two top priority gold targets, Crestaurum and Barney Shear, are pending and will be reported in the coming weeks, with the summer drill program expected to begin in late June 2014.

Two holes, TNB14-003 and TNB14-004, where drilled to test the down dip extension of surface showings sampled by TerraX in 2013 (chip samples of 7.0m @ 0.50 g/t Au 90.2 g/t Ag, 4.25% Pb and 0.89% Zn) and intersected felsic volcanics that are pervasively mineralized including multiple massive to semi-massive sulphide zones. Highlights include:


--  71.15m @ 0.25 g/t Au, 14.0 g/t Ag, 0.73% Pb and 0.57% Zn in hole TNB14-
    004 (inclusive of 3.42m @ 3.41 g/t Au, 69.3 g/t Ag, 3.67% Pb, 3.17% Zn
    in massive sulphides) and 
--  60.87m @ 0.11 g/t Au, 10.4 g/t Ag, 0.58% Pb and 0.65% Zn in hole TNB14-
    003;

The Homer Lake drill program was designed to test a 400m-500m long VTEM (electromagnetic) anomaly with an interpreted steep westerly dip that had been identified by airborne surveying in 2013 and continues for a further 1km as a weaker VTEM anomaly to the south. Two holes (TNB14-001 and TNB14-002) were drilled with an easterly azimuth on sections 100m apart and designed to intersect the northern end of the anomaly. Holes TNB14-003 and 004 were drilled to the east of the anomaly in an area where base metals were identified in historic trenches during 2013 field work (eg. chip samples of 7.0m @ 0.50 g/t Au 90.2 g/t Ag, 4.25% Pb and 0.89% Zn). A map showing the location of these drill holes is available on our web site at www.terraxminerals.com.

Higher grade intervals occur within the mineralized felsic volcanic unit, and also in the adjacent mafic volcanics (see table). Within TNB14-004 these include 3.42m @ 3.41 g/t Au, 69.3 g/t Ag, 3.67% Pb and 3.17% Zn within felsic volcanics; and 5.31m @ 0.40 g/t Au, 64.5 g/t Ag, 3.65% Pb and 2.64% Zn at a felsic to mafic volcanic contact. Within TNB14-003 high grade intervals include 4.44m @ 0.16 g/t Au, 25.5 g/t Ag, 2.10% Pb and 2.59% Zn at a mafic to felsic volcanic contact; 1.50m @ 1.70 g/t Au, 43.3 g/t Ag, 2.41% Pb and 2.04% Zn in felsic volcanics; and 2.02m @ 0.34 g/t Au, 85.1 g/t Ag, 4.08% Pb and 3.72% Zn at a felsic to mafic volcanic contact.

Joe Campbell, P.Geo, President of TerraX, states "The mineralization drilled in holes TNB14-003 and TNB14-004 is located along one of six sub-parallel zones of mineralization identified by TerraX in field work during the summer of 2013. Several of these zones have been traced over hundreds of meters of strike length on surface. While the high-grade gold targets at Northbelt remain our top priority, these wide zones of mineralization, coupled with the higher grade intervals of massive sulphides, are indicative of a large precious metal-rich base metal mineralized system in the Homer Lake area that definitely warrants further exploration when time and resources permit."


----------------------------------------------------------------------------
                From        To  Interval       Au       Ag       Pb       Zn
Hole             (m)       (m)       (m)      g/t      g/t        %        %
----------------------------------------------------------------------------
TNB14-004      63.21    134.36     71.15     0.25     14.0     0.73     0.57
----------------------------------------------------------------------------
     incl.     96.85    100.27      3.42     3.41     69.3     3.67     3.17
----------------------------------------------------------------------------
     incl.    128.39    133.70      5.31     0.40     64.5     3.65     2.64
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                From        To  Interval       Au       Ag       Pb       Zn
Hole             (m)       (m)       (m)      g/t      g/t        %        %
----------------------------------------------------------------------------
TNB14-003      13.42     16.39      2.97     0.22     15.9     1.22     1.20
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
               31.09     91.96     60.87     0.11     10.4     0.58     0.65
----------------------------------------------------------------------------
     incl.     31.09     42.24     11.15     0.07     13.1     1.05     1.23
----------------------------------------------------------------------------
 and incl.     37.17     41.61      4.44     0.16     25.5     2.10     2.59
----------------------------------------------------------------------------
 and incl.     37.17     38.79      1.62     0.32     56.6     4.76     5.30
----------------------------------------------------------------------------
     incl.     61.77     63.27      1.50     1.70     43.3     2.41     2.04
----------------------------------------------------------------------------
     incl.     73.00     77.20      4.20     0.08     40.7     2.00     2.56
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
              145.73    153.43      7.70     0.10     25.1     1.22     1.14
----------------------------------------------------------------------------
     incl.    149.16    151.18      2.02     0.34     85.1     4.08     3.72
----------------------------------------------------------------------------

The two holes drilled to intersect the northern end of the strong VTEM anomaly (TNB14-001 and TNB14-002) intersected multiple narrow massive to semi-massive sub-meter sulphide bands of pyrrhotite, +/- pyrite, chalcopyrite, and arsenopyrite within massive to pillowed mafic volcanics, locally sheared proximal to mineralization. Collectively, these sulphide bands are interpreted to be the cause of the anomaly. In drill hole TNB14-001, on the extreme northern end of the anomaly, the most intense concentration of sulphide occurred from 118.0 to 172.0 m down hole, and in drill hole TNB14-002 collared 100m south of TNB14-001, the same zone occurred from approximately 114.0 to 171.0 m down hole.

These zones carried minor base metal mineralization, with single sample assays of up to 0.44% Cu in drill hole TNB14-001, and up to 0.20% Cu in TNB14-002. The sulphide zones returned sporadic gold values (highest assay 6.83 g/t over 0.71m in TNB14-001 and 2.87 g/t over 0.57m in TNB14-002). Two wider coherent intervals of low grade gold occurred within the best sulphide zones in TNB14-001, but gold values were more scattered throughout the same areas in TNB14-002. A third narrow zone of gold occurred in banded sulphides of pyrrhotite, +/- chalcopyrite, and pyrite (intersection table below) at the bottom of both holes.


    -------------------------------------------------------------------
                    From        To  Interval       Au       Ag       Cu
    Hole             (m)       (m)       (m)      g/t      g/t        %
    -------------------------------------------------------------------
    TNB14-001     108.06    124.40     16.34     0.61        -        -
    -------------------------------------------------------------------
         incl.    120.71    123.00      2.29     2.44        -     0.11
    -------------------------------------------------------------------
     and incl.    120.71    121.42      0.71     6.83      3.6     0.23
    -------------------------------------------------------------------
                                                                       
    -------------------------------------------------------------------
                  154.26    171.89     17.63     0.41        -        -
    -------------------------------------------------------------------
         incl.    168.53    171.89      3.36     1.54        -     0.05
    -------------------------------------------------------------------
                                                                       
    -------------------------------------------------------------------
                  269.62    271.05      1.43     1.49      5.9     0.12
    -------------------------------------------------------------------
                                                                       
    -------------------------------------------------------------------
    TNB14-002      97.96    120.70     22.74     0.13        -     0.05
    -------------------------------------------------------------------
                                                                       
    -------------------------------------------------------------------
                  139.00    143.33      4.33     0.26      4.1        -
    -------------------------------------------------------------------
                                                                       
    -------------------------------------------------------------------
                  230.48    231.84      1.36     1.32        -        -
    -------------------------------------------------------------------
         incl.    231.27    231.84      0.57     2.87     11.8        -
    -------------------------------------------------------------------

This strong VTEM anomaly is still untested over 300-400m of strike length to the south of TNB14-002. TerraX believes the amount of sulphides in this target area and the associated highly anomalous gold content are significant, and this target will receive mapping and prospecting attention this summer. In addition, the VTEM anomaly and associated magnetic signature will be remodeled to better define target potential by integrating the results from this drilling.

TerraX collected 871 samples for assay from the Homer Lake drilling. Results ranged from below detection in all metals to highs of 6.83 g/t Au, 261 g/t Ag, 13.55% Pb, 10.15% Zn, and 0.44% Cu, in separate samples. True thickness of the zones of mineralization is unknown at present. Based on core foliation angles it is estimated to be between 50-80% of drill intersection width.

Core sampling included insertion of certified standards and blanks. Drill core samples are cut by diamond saw at TerraX's core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by TerraX personnel in securely sealed bags to ALS Chemex's preparation laboratory in Yellowknife. After sample preparation, samples are shipped to ALS Chemex's Vancouver facility for gold and ICP analysis. Gold assays of greater than 3 g/t are re-assayed on a 30 gm split with fire assay with a gravimetric finish. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.

TerraX and GeoVector Management Inc. were responsible for planning the drill holes at Homer Lake. GeoVector was also responsible for the management and supervision of the drill program. 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 past producing Giant and Con 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 www.terraxminerals.com.

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 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.

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
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Amazon and Google have built software-defined data centers (SDDCs) that deliver massively scalable services with great efficiency. Yet, building SDDCs has proven to be a near impossibility for ‘normal’ companies without hyper-scale resources. In his session at 17th Cloud Expo, David Cauthron, founder and chief executive officer of Nimboxx, will discuss the evolution of virtualization (hardware, application, memory, storage) and how commodity / open source hyper converged infrastructure (HCI) so...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...