DGAP-News: TerraX Minerals Inc. / Key word(s): Miscellaneous Vancouver, British Columbia--(Newsfile Corp. - May 8, 2019) - TerraX Minerals Inc. (TSXV: TXR) (FSE: TX0) (OTC Pink: TRXXF) is pleased to provide a corporate update and further information about its proposed 2019 exploration plans on its Yellowknife City Gold (YCG) Project. David Suda, President and CEO, stated: "We would like to thank our shareholders for their commitment and patience over the past 12 months. The company has gone through significant changes and achieved several key milestones (figure A). This work has brought us to a major inflection point in the company's history and has put TerraX on the verge of what could be a very significant discovery. We look forward to announcing more details regarding phase 1 of our exploration plans in the coming weeks."
Summer Drilling Top Targets In early 2019, TerraX identified 4 top priority targets. Comprehensive review of the targets including the use of historical data and 2019 assays of historical core, has led to a focus on deposit expansion at Crestaurum and Sam Otto, as well as the advancement of targeting on the North Giant Extension within the Barney Deformation Corridor. Barney Deformation Corridor
Joe Campbell, Executive Chairman and Chief Geologist, stated: "The extension of the Con-Giant Mine structure onto our property is one of the most exciting exploration opportunities I have seen in my career. Large discoveries are few and far between and this is a rare chance to explore such great potential." Crestaurum Target
Sam Otto Target
Historical Core
The 2019 exploration program at the YCG Project will build off the technical and operational successes achieved in 2018. The program is currently being finalized and details will be released in the coming weeks. For more information please refer to our May 2019 Corporate Presentation (or click here). About the Yellowknife City Gold Project The Yellowknife City Gold ("YCG") project encompasses 783 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople. The YCG project lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project's potential as a world-class gold district. For more information on the YCG project, please visit our web site at www.terraxminerals.com. On behalf of the Board of Directors For more information, please contact: Samuel Vella 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, events or otherwise. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44631 Click on, or paste the following link into your web browser,to view the associated documents http://www.newsfilecorp.com/release/44631
08.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | TerraX Minerals Inc. |
Canada | |
ISIN: | CA88103X1087 |
EQS News ID: | 808633 |
End of News | DGAP News Service |
808633 08.05.2019