Mr. David Suda reports
TERRAX RECOVERS 16,000 METRES OF HISTORICAL CORE
In co-operation with the Geological Survey of the Northwest Territories and the Giant mine remediation project, Terrax Minerals Inc. was able to recover 16,000 metres of historical drill core. In a preliminary review of the core Terrax geologists have identified visible gold and are currently logging and splitting the favourable sections of core for assaying.
David Suda, president and chief executive officer, stated: "Acquiring core with visible gold provides an exciting and unexpected jumpstart to the advancement of key targets that will provide investors an early look at assay results in the first half of 2019. We have effectively gained a full season of drilling for a fraction of the normal cost."
Mr. Suda further stated, "The core is from three of four identified targets that Terrax plans to drill next, although highly encouraging the strongest or largest targets still remain to be tested in our next drill program."
The core material is from holes drilled on Terrax property. Historical drill logs related to the recovered core indicate that several holes showed significant gold intersections. The logging and resampling of this core to confirm historical reports are a top priority for Terrax in Q1 of 2019. Since the acquisition, Terrax has identified core from holes drilled on the northern extension of the Giant mine gold structure which sits on Terrax land. These holes are significant to the development of high-priority exploration targets.
Terrax will continue to sort, log and resample core to strategically identify the best core for assay in winter 2019.
The technical information contained in this news release has been approved by Joseph Campbell, executive chairman 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 783 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 YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradespeople.
The YCG 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.
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