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Terrax Minerals Inc
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Terrax drills 14 m of 1.36 g/t Au at Sam Otto South

2019-09-09 09:09 ET - News Release

Mr. David Suda reports


Terrax Minerals Inc. has extended the gold mineralization at Sam Otto by an additional 600 metres of strike with results from 1,182 m of drilling in six holes. These results combined with the drilling of three holes in 2018, the Sam Otto South zone now extends for 1.2 kilometers, and remains open in all directions. Gold mineralization of the Sam Otto trend has been defined for a minimum of 2.5 kilometers along the 5 kilometer Sam Otto structural corridor.

Phase 1 drill highlights from the Sam Otto South zone include: 7m of 2.93 g/t gold (within a broader interval of 40 m of 0.6 g/t Au) 14m of 1.36 g/t gold (within a broader interval of 34m of 0.64 g/t Au), 11m of 1.24 g/t gold, and 9m of 1.2 g/t gold (Figure 2). See Table 1 below for a complete summary:Image: https://www.accesswire.com/users/newswire/images/558919/f1559a1e-16f1-48fe-ae12-ff4b8e03740a.jpegFigure 1: Sam Otto "Mineralized Zone" is defined by drilling and gold bearing surface sampling. Dotted line indicating "Mineralized Shear Structure Mapped' shows the location of favorable extensions of shears that were mapped in the summer of 2019

Message from David Suda, CEO:

"The opportunity at Sam Otto has improved considerably with these results by extending gold mineralization to 2.5 kilometers of strike length. We are very much looking forward to the remaining results from Sam Otto and the nearby high grade target at Crestaurum. These targets are in close proximity to one another and represent the opportunity for TerraX to deliver an attractive resource next to excellent infrastructure in the town of Yellowknife."

Technical Summary:

Gold mineralization encountered within the Sam Otto South target is located in shear zone structures 100 - 200 meters in width with strong sericite alteration and shearing. These geological characteristics are consistent with what is observed at the Sam Otto Main zone, clearly demonstrating the bulk tonnage of the 3.5 kilometer Sam Otto South structure.

The nine drill holes from the 2018 and 2019 campaigns in the Sam Otto South zone together with surface channel samples have shown that higher grade lenses (27m of 2.14 g/t, for e.g.) are at a 10 - 15 degree angle to the main north - south trending structure and alteration zone. An additional three drill holes have been completed this summer with results pending to test for geometric continuity of the higher grade lenses at depth. TerraX is planning aggressive step out drilling along the Sam Otto structure next winter as it will provide 100% access along the trend.Image: https://www.accesswire.com/users/newswire/images/558919/dca9c69d-c522-482c-a40c-e65c76ad53f9.jpegFigure 2: Areas of 'Mineralized Zone' are based on drill holes and surface sampling. All drill holes have gold mineralized intersections and the zones remain open in all directions.

          SAM OTTO SOUTH - PHASE 1, 2019 DDH                                      
Drill Hole      From (m)  To (m) Interval (m)  Au g/t

TSO19-043          24.00   64.00        40.00    0.60
              incl.34.00   31.00         7.00    2.93
              and  98.00  112.00        14.00    0.71
              incl.99.00  107.00         8.00    1.02
             and  126.00  130.00         4.00    0.80
             and  156.00  157.00         1.00    1.10

TSO19-044          19.85   24.00         4.15    0.79
              and  30.00   31.00         1.00    0.90
              and  84.00   89.00         5.00    0.46
              incl.88.00   89.00         1.00    1.28
             and  112.00  113.27         1.27    0.73
             and  115.09  120.00         4.91    0.88
             incl.119.00  120.00         1.00    1.70
             and  147.00  149.00         2.00    0.88
             and  154.00  156.00         2.00    0.40

TSO19-045          35.25   37.00         1.75    0.32
                   41.00   75.00        34.00    0.64
              incl.41.90   44.00         2.10    1.61
              incl.61.00   70.00         9.00    1.20
              and  87.75  101.25        13.50    0.60

TSO19-046          82.00   83.00         1.00    0.52
                   90.00  104.00        14.00    1.36
              incl.90.00   99.62         9.62    1.64
              incl.91.00   93.50         2.50    2.22
              incl.96.00   99.62         3.62    2.23
             and  110.75  111.50         0.75    0.84
             and  155.00  156.60         1.60    0.93

TSO19-047          21.00   38.00        17.00    0.88
              incl.24.00   35.00        11.00    1.24
              incl.24.00   27.00         3.00    3.60
              and  66.00   68.00         2.00    0.98
             and  101.00  107.00         6.00    0.60
             incl.104.00  106.00         2.00    0.98
             and  120.00  126.22         6.22    0.40
             and  135.00  139.00         4.00    2.10
             and  134.00  135.00         1.00    7.43

TSO19-048         224.14  227.14         3.00    0.64

Technical Appendix:

Holes were drilled normal to strike length and designed to cross mineralized structures at right angles. Reported intersection widths are estimated to be 90% of true width.

For the 6 holes reported today, TerraX collected 1106 samples for assay. Results ranged from below detection to 7.43 g/t Au. TerraX inserts certified standards and blanks into the sample stream as a check on laboratory QC. 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 analysis. Gold assays of >3 g/t are re-assayed on a 30 gm 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, 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 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 is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric 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. 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.

We seek Safe Harbor.

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