Resource World Magazine

28 www.resourceworld.com A P R I L / M A Y 2 0 1 4 MINING Joseph Campbell, President of TerraX at Crestaurum trench on Northbelt Property, Northwest Territories . Photo courtesy TerraX Minerals Inc. TerraX Minerals exploring the highly prospective Yellowknife Gold Belt by Katherine Moore TerraX Minerals Inc. [TXR-TSXV] has been issued a Land Use Permit from the McKenzie Valley Land and Water Board to conduct advanced exploration and drilling programs on its Yellowknife City Gold Project in Northwest Territories, Canada. The five year permit has an option for a two year extension. The company is currently upgrading and grooming roads on the property to prepare for the drilling of an initial 6,000-metre drill program which is expected to begin shortly. TerraX has recently raised revenue through several private placements which the company will use to fund the drill pro- grams as well as mapping, prospecting and environmental baseline studies. TerraX acquired a 100% interest in the 3,562-hectare North- belt gold property, in the Yellowknife Gold Belt in February 2013 from Century Mining. The Yellowknife Gold Belt is a promising neighbourhood in which to explore; it hosted the historic Giant Mine that produced 7.6 million gold ounces and the historic Con Mine that produced 5.5 million gold ounces. The Northbelt property is road accessible and is 2 km away from the Blue Fish Hydro Dam and 8 km from the Yellowknife airport. The northern extension of that gold-rich geology extends into the Northbelt for 13 km. The company states that "The Northbelt property is host to multiple shears that are the rec- ognized hosts for gold deposits in the Yellowknife camp and it contains innumerable gold showings." TerraX has been increas- ing its land position in the highly prospective Yellowknife Gold Belt; the acquisition of an interest in the Walsh Lake property in October 2013 increased the area controlled by TerraX (op- tioned and owned) to over 6,500 hectares. The Walsh Lake property is contiguous with and immedi- ately east of the Northbelt property and consists of seven leases and five claims totalling 6,659 acres (26.95 km 2 ). The UBreccia property was acquired by TerraX in March 2014. This latest acquisition is contiguous with and immedi- ately west-southwest of its Northbelt property in the Yellow- knife City Gold Project. The company stated that the "Ubreccia property consists of three claims totaling 1,394 hectares and was purchased from Panarc Resources Ltd. for 75,000 common shares. Panarc will retain a 1% NSR, of which 0.5% can be purchased by TerraX at any time for $1,000,000." The acquisi- tion of the Ubreccia property increased the size of TerraX's Yel- lowknife City Gold Project to approximately 8,400 hectares of contiguous land. Field Exploration Highlights from TerraX's 2013 sampling and re-assaying programs include: • 700 grab and chip samples include values up to 145 g/t Au, 529 g/t Ag, >20% Pb, 9.44% Zn and 0.85% Mo • 3.79 g/t Au over 20.86 m, including 12.59 g/t Au over 4.00 m (Hole NB95-16) • 2.97 g/t Au over 21.12 m, including 8.81 g/t Au over 3.88 m (Hole NB94-01A) • 1.90 g/t Au over 27.00 m, including 8.97 g/t Au over 2.70 m (Hole NB96-04) • 11.96 g/t Au over 6.00 m (Hole 85-166) • 20.66 g/t Au over 5.00 m near surface (Hole 85-187) • 62.90 g/t Au over 5.00 m less than 50 m from surface (Hole 85-150) n

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