Welcome!

News Feed Item

Terrax Commences Drilling at Barney Shear Zone, Yellowknife City Gold Project

YELLOWKNIFE, NORTHWEST TERRITORIES -- (Marketwired) -- 06/25/14 -- TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TX0)(PINKSHEETS:TRXXF) has re-commenced core drilling, following spring breakup, on its wholly-owned Yellowknife City Gold Project ("YCGP"), near Yellowknife, NWT. Drilling continues at the Barney Shear Zone, which is widely recognized in industry publications and historic reports as the northern continuation of the gold mineralized shear system that hosted the past-producing high-grade Con and Giant gold mines in Yellowknife. The Barney Shear has been delineated over a strike length of 4.5 km by TerraX and previous operators; surface mapping by TerraX in 2013 indicates that the Barney Shear Zone consists of multiple mineralized shears over a greater than 200 m width.

The first drill holes will be wedges to test the up dip extension of the Barney Shear Zone off relatively deep drill holes drilled by Nebex Resources in 1995 and 1996 that intersected the Barney Shear Zone at vertical depths of 240 to 280 meters below surface. The holes were left cased and capped to allow re-entry for further exploration of this zone. The previous drilling by Nebex were single holes per cross-section, and the wedges to be completed by TerraX will create multi-hole sections for geological modeling and potentially allow Terrax to complete an initial inferred resource estimate at Barney utilizing drill logs and core available to TerraX from the Nebex drilling.

TerraX has previously reported assay results from re-logging and sampling of the drill core from these holes that included:

--  20.86 m @ 3.79 g/t Au, inclusive of 4.00m @ 12.59 g/t Au, in hole NB 95-
    16 (news release of August 14, 2013), 
    
--  8.16 m @ 5.06 g/t Au in hole NB 96-02 (news release of November 14,
    2013), and 
    
--  27.00 m @ 1.90 g/t Au, inclusive of 2.70 m @ 8.97 g/t Au in hole NB 96-
    04 (news release of November 14, 2013). 

Hole 96-02 was collared 450 m west of NB 95-16. Hole NB 96-04 was collared 60 m north of NB 95-16 and was the northernmost hole drilled on the Barney Shear until drilling conducted by TerraX in April of 2014 reported a newly discovered northern extension to the Barney Zone (Barney North Extension), approximately 200 meters further north and 200 meters up dip of previous drilling (news release June 2, 2014). This drilling greatly expanded the strike and dip length of the Barney Zone.

Following drilling on the Barney Zone, TerraX will be drilling several holes on the Crestaurum zone to complete a program that began in April of this year in areas of historical holes drilled between 1945 and 1947. TerraX plans on leveraging historical exploration data to continue defining the extent and controlling structures of known mineralization on the Crestaurum and Barney shears, with the potential of establishing a modern resource estimate for both deposits this year. As well, ongoing field exploration (see June 17, 2014 News Release) will generate and prioritize targets for future drill programs on the multiple shears identified during TerraX's 2013 exploration program and over 70 years of historical exploration records.

About the Yellowknife City Gold Project

The Yellowknife City Gold Project (YCPG) 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 project lies on the prolific Yellowknife greenstone belt, and covers 15 km of strike length on the northern extension of the shear system that hosts the high-grade Con and Giant gold mines. The project is host to multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district and contains innumerable gold showings and historic high grade drill results. Since January 2013, TerraX has consolidated the project area by acquiring and optioning numerous properties, including: Northbelt, Goodwin, Ryan Lake, Walsh Lake, and U-Breccia, as well as staking additional contiguous lands. Being all-season road accessible and within 15km of the City of Yellowknife, YCPG is close to vital infrastructure, including: supplies, service providers, power, water, and skilled tradespeople.

For more information on TerraX Minerals and 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.

Contacts:
Paradox Public Relations
514-341-0408
Toll Free: 1-866-460-0408
[email protected]

Vanguard Shareholder Solutions
604-608-0824
Toll Free: 855-508-0824
[email protected]

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
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Vulnerability management is vital for large companies that need to secure containers across thousands of hosts, but many struggle to understand how exposed they are when they discover a new high security vulnerability. In his session at 21st Cloud Expo, John Morello, CTO of Twistlock, addressed this pressing concern by introducing the concept of the “Vulnerability Risk Tree API,” which brings all the data together in a simple REST endpoint, allowing companies to easily grasp the severity of the ...
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...