Mr. Joe Campbell reports
TERRAX EXTENDS CRESTAURUM ZONE TO 300 METERS VERTICAL DEPTH, DOUBLING SIZE OF KNOWN MINERALIZED STRUCTURE
Terrax Minerals Inc. has released assay results from the remaining 11 holes drilled at the Yellowknife City gold project this winter. Four of these holes (1,170 metres) were drilled on the high-grade Crestaurum gold-bearing structure to test whether gold mineralization continued to depth. All four holes hit mineralized structure, with two holes containing visible gold. All holes intersected significant gold with selected intervals of:
- 8.84 grams per tonne gold over 2.49 metres and 5.38 g/t Au over 0.63 m in hole TCR18-076;
- 3.08 g/t Au over 2.80 m and 5.57 g/t Au over 2.06 m in hole TCR18-078;
- 13.30 g/t Au over 1.24 m and 4.41 g/t Au over 0.80 m in hole TCR18-079;
- 3.86 g/t Au over 0.56 m in hole TCR18-077.
The upper portion of the Crestaurum structure has been previously drilled with 187 drill holes over 1.4 kilometres of strike length, from surface down to a depth of approximately 100 to 150 m depth, outlining a lode-style shear and vein deposit (including 5.00 m at 62.90 g/t Au, news release dated Oct. 2, 2013). Although the structure is very continuous the high-grade lodes are more discrete and these initial widespread deeper holes were designed to intersect structure to determine whether there was probability of high-grade lodes continuing at depth potentially doubling the size of the mineralized zones. A drill hole location map can be found on the company's website and a long section of the Crestaurum main shear is on the website as well.
Joe Campbell, chief executive officer of Terrax, stated: "This small program of four holes successfully demonstrated that the Crestaurum zone continues at depth on multiple surfaces, potentially doubling the size of the zone. The 300-metre vertical depth tested with these holes is still considered very shallow for Archean lode gold deposits and mineralization remains open for further expansion, both along strike and at depth."
Terrax also tested the Sam Otto west zone, another lode-style shear and vein deposit near Terrax's Sam Otto Main zone (1.90 m at 13 96 g/t Au, news release dated May 2, 2017). This drilling included five holes totalling 2,081 m testing strike and depth potential (down to 250 m vertical) on this zone. All holes hit gold-mineralized structure with best results of 3.00 g/t Au over 2.69 m in hole TSO18-038, 1.06 g/t Au over 4.00 m in hole TSO18-041, and 1.32 g/t Au over 2.70 m in hole TSO18-036. All holes included intersections of 2.0 to 5.6 metres of 0.71 to 0.81 g/t Au. The continuous presence of the gold-mineralized structures that now extend over more than a kilometre of strike and 250 metres of depth, with alteration and mineralization styles like the high-grade zones from the nearby Con and Giant mines, makes this a good target for continued exploration.
A single hole (TSO18-039, 430 metres) was drilled approximately 500 m south along strike from the Sam Otto Main zone, and 600 metres north of TSO18-037 (1.92 g/t Au over 11.52 metres, news release dated March 9, 2018). This hole confirmed the continuity of the Sam Otto structure between the known extents of the Sam Otto Main and Sam Otto South zones, intersecting a broad zone of deformation and alteration (0.10 g/t Au over 157.75 m) consistent with the Sam Otto style of mineralization, including multiple 2.50 m to 9.10 m wide zones of 0.35 g/t Au to 0.82 g/t Au.
All holes were drilled approximately normal to projected strike and dip of the zones of mineralization and are interpreted to be approximately 80 to 95 per cent of true thickness.
CRESTAURUM
Drill From To Interval Au
hole (m) (m) (m) (g/t)
TCR18-076 223.70 226.19 2.49 8.84
326.73 327.36 0.63 5.38
TCR18-077 167.68 168.24 0.56 3.86
263.30 269.61 6.31 0.27
TCR18-078 57.00 57.50 0.50 1.75
94.50 98.30 3.80 2.29
incl. 94.50 97.30 2.80 3.08
218.00 229.15 11.15 1.15
incl. 227.09 229.15 2.06 5.57
TSO18-079 102.88 104.12 1.24 13.30
116.15 118.15 2.00 1.66
178.15 178.65 0.50 2.73
280.56 281.36 0.80 4.41
SAM OTTO -- WEST
Drill From To Interval Au
hole (m) (m) (m) (g/t)
TSO18-036 169.30 173.00 3.70 0.57
incl. 171.35 173.00 1.65 1.06
234.74 240.37 5.63 0.81
incl. 236.50 239.20 2.70 1.31
TSO18-038 186.70 200.27 13.57 0.67
incl. 197.58 200.27 2.69 3.00
TSO18-040 24.30 25.00 0.70 0.71
181.00 183.00 2.00 0.74
264.50 266.00 1.50 0.63
TCR18-041 99.00 101.00 2.00 0.71
113.00 115.00 2.00 0.40
126.00 130.00 4.00 1.06
144.40 145.40 1.00 0.89
TCR18-042 119.00 120.00 1.00 0.99
133.00 136.50 3.50 0.47
148.00 149.00 1.00 1.59
212.50 214.00 1.50 1.54
311.00 313.00 2.00 0.54
335.18 336.00 0.82 0.56
356.00 357.50 1.50 1.63
SAM OTTO MAIN -- SAM OTTO SOUTH CONNECTION
Drill From To Interval Au
hole (m) (m) (m) (g/t)
TSO18-039 Deformation and alteration
121.75-279.50 (157.75 m)
121.75 139.00 17.25 0.20
incl. 121.75 127.00 5.25 0.44
207.40 216.50 9.10 0.35
incl. 207.40 211.50 4.10 0.56
242.85 248.00 5.15 0.56
277.00 279.50 2.50 0.82
The 2018 winter drill program at the Yellowknife City gold project is now complete. Terrax drilled 3,681 metres and collected 2,331 samples for assay from the drilling reported here. Results ranged from below detection to 21.8 g/t Au. Drill hole collar locations were surveyed to submetre accuracy. Downhole surveying was completed on all holes. Terrax inserts certified standards and blanks into the sample stream as a check on laboratory quality control. 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 (ALS) preparation laboratory in Yellowknife. After sample preparation, samples are shipped to ALS's Vancouver facility for gold and ICP (inductively coupled plasma) analysis. Gold assays of greater than three g/t are reassayed on a 30-gram split by 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.
The technical information contained in this news release has been approved by Joseph Campbell, the chief executive officer 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 (YCG) project encompasses 772 square kilometres 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 project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradesmen.
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.
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