Results confirm Yellowknife potential as district scale camp.
Terrax Minerals Inc (V:TXR) recently announced more assay results from the company's summer field program on the Yellowknife City Gold project, which is ongoing.
"The summer program continues to yield results that confirm the potential of the Yellowknife City Gold Project as a district scale camp. Surface results, magnetic imaging, and geochemistry data will provide a roadmap to future drilling on our most prospective targets. The Northbelt remains our core area of focus but we are systematically sampling 10km away on the Eastbelt with encouraging results," said David Suda, president and CEO of TerraX.
Continued channel sampling and prospecting assay results are from the area near the past-producing Ptarmigan Mine on Eastbelt. Detailed mapping and prospecting extends the Ptarmigan zone 400 meters northwest of previously reported channel sampling with a 19.00 g/t gold grab sample along the Ptarmigan trend.
Channel sample results were cut from outcrop southeast of previously reported channels (24.75 g/t Au over 5.50m including 44.82 g/t Au over 3.00m reported on July 12, 2018) along the Ptarmigan vein trend and sampling across the gold mineralized structures.
"The high grade channels from the Ptarmigan area continue to impress, and the extension of the zone through prospecting 400 meters to the northwest greatly expands the target area for developing potential mineral resources," said Joseph Campbell, executive chairman of TerraX.
Mineralized intervals for the sampled areas (ECH18-034, 038, 039 and ECH18-041) include:
- ECH18-034 - 4.76 g/t Au over 2.00m
- ECH18-038 - 6.60 g/t Au over 2.10m
- ECH18-039 - 53.85 g/t Au over 1.80m
- ECH18-041 - 18.13 g/t Au over 3.10m
Due west of the Ptarmigan Mine, an additional grab sample was collected from a gossanous quartz vein 2.7 kilometers, and assayed 5.17 g/t Au.
Assays reported total 313 samples with gold grades ranging from nil to 124 g/t Au, and including 138 channel samples.
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1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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