TerraX Minerals Inc. - Yellowknife City Gold Project - Update on DrillingThursday, November 22, 2018 - 09:20 to 09:39 Theatre 1
During 2018 TerraX completed 6,118 metres of diamond drilling in 16 NQ drill holes. The majority of this drilling was completed on the Mispickel, Sam Otto and Daves Pond targets with 4,948 metres in twelve drill holes. The remainder of the drilling was completed on the Crestaurum Zone with four drill holes totaling 1170 metres. Gold mineralization was intersected in all targets. The most significant gold mineralization was intersected at the Sam Otto, Sam Otto South and Crestarum zones.
The 1,315 metres in the three holes drilled on the Sam Otto zone extended the depth of the zone to 350 metres vertical. This zone consists of quartz veins hosted in intermediate and felsic tuffs of the Banting Group. The best intersection was 0.85 Au g/t over 62.24 metres, including 2.04 g/t over 13.95 metres in TSO18-032. Three holes totaling 1,118 that were drilled on the Sam Otto South zone were the most significant as these three holes extended Sam Otto style gold mineralization an additional 1500 metres, south. The most significant intersections were:
• 2.16 g/t Au over 27.16 m, including 23.10 g/t Au over 1.0m and 7.99 g/t Au over 2.44m in hole TSO18-035
• 1.92 g/t Au over 11.52 m, including 2.89 g/t Au over 3.64m in hole TSO18-037
The Crestaurum Zone drilling was designed to test the main mineralized shear/quartz vein system to 300 metres depth. Previous drilling had outlined discrete high-grade shoots to vertical depths of 100 – 150 metres. The four holes totaling 1170 metre intersected the high-grade shoots to depths of 300 vertical metres. The most significant intersections were:
• 5.38 g/t Au over 0.63 m in hole TCR18-076
• 5.57 g/t Au over 2.06 m in hole TSO17-078
• 4.41 g/t Au over 0.80 m in hole TSO17-079
In addition, all drill holes intersected a hanging wall shear/quartz vein system to a vertical depth of 50 to 75 metres. The most significant intersections were:
• 8.84 g/t Au over 2.49 m in hole TCR18-076
• 3.08 g/t Au over 2.80 m in hole TSO17-077
• 13.30 g/t Au over 1.24 m in hole TSO17-079
This hanging wall zone presents the possibility of two ore bearing sub-parallel structures at Crestaurum zone.