SYS-CON MEDIA Authors: Elizabeth White, Liz McMillan, Pat Romanski, Esmeralda Swartz, Kevin Jackson

News Feed Item

TerraX Assays 6.61 g/t Au, 357 g/t Ag, 1.51% Cu, 7.02% Zn and Greater Than 20% Pb in Grab Samples from Homer Lake Base Metal Target, Yellowknife City Gold Project

YELLOWKNIFE, NORTHWEST TERRITORIES -- (Marketwired) -- 08/18/14 -- TerraX Minerals Inc. (TSX VENTURE: TXR)(FRANKFURT: TX0)(PINKSHEETS: TRXXF) has received the assay results from a further 113 samples of the approximately 960 surface samples taken during a six week prospecting and mapping program now completed at the Yellowknife City Gold Project ("YCGP") just north of Yellowknife in the Northwest Territories. Assay results are still pending or being interpreted from the remaining samples taken from prospective gold and base metal targets at the YCGP, as well as from drilling recently completed at the Crestaurum and Barney mesothermal gold targets in the southern portion of the property, and will be announced when available.

This sampling reported today was completed by two senior geologists provided by Virginia Mines Inc. during mapping of a 1.3 km (N-S) x 650 m (E-W) area immediately west of Homer Lake in the northern part of the YCGP, with 99 grab and chip samples collected for assay and an additional 14 samples collected for whole rock analysis. Assay results ranged from below detection to 6.61 g/t gold, below detection to 357 g/t silver, 3 ppm to 1.51% copper, 9 ppm to 7.02% zinc, and 5 ppm to greater than 20% lead. Two metal domains are apparent: a gold +/- copper domain to the west and a gold-silver-lead-zinc domain to the east.

These 113 samples complement the 150 grab and chip samples assayed in 2013 and the four holes drilled by TerraX in early 2014. Collectively, this information produces a preliminary picture of this prospective area which contains widespread mineralization. Of the 249 samples assayed, 102 contain Au greater than 0.25 g/t, 46 contain Au greater than 1 g/t; 142 samples contain in excess of 5 g/t Ag and 53 have more than 40 g/t Ag; 100 samples have more than 0.25% Pb of which 57 have more than 1%; 56 samples have greater than 0.25% Zn and 30 have greater than 1% Zn. Cu anomalism is much more restricted, with only 7 samples having greater than 0.25% Cu. Maps showing the distribution of mineralization at Homer Lake are available on our website at www.terraxminerals.com.

Detailed mapping of the predominantly mafic stratigraphy reveals alternating massive and pillowed facies, defining a northwesterly trend which is probably the approximate stratigraphic trend. The mafic rocks have been intruded by a north-northeast trending quartz porphyry interpreted by the Virginia geologists as a variably sericitized and chloritized subvolcanic intrusion. Mineralization occurs in bands within and along the edge of the quartz porphyry, associated with subparallel structures, and in northwest features along possible flow and sill contacts.

A strong metal zonation is apparent, with two discrete domains separated by a northeast trending lineament that does not contain any outcrops. This lineament also separates dominantly massive flows in the west from pillowed and massive flows in the east, and is interpreted by Virginia geologists as a major fault. All of the greater than 0.25% zinc values, all but one of the greater than 0.25% lead values and the vast majority of the greater than 40 g/t silver values occur in the eastern domain. The two greater than 1% copper values occur in the western domain. Anomalous to ore grade gold is evenly distributed between the two domains; the result is a gold-copper domain in the west and a gold-silver-lead-zinc domain in the east. These domains were tested by two drill holes each in April, 2014, prior to their recognition. Holes TNB14-001 and 002 tested an electromagnetic anomaly in the western domain. The anomaly was determined to be caused by pyrrhotite and lesser chalcopyrite stringers. By contrast, holes TNB14-003 and 004 were drilled under the main trench in the eastern domain. These holes intersected high grade polymetallic zones surrounded by lower grade, but still polymetallic, mineralization. The best result was from hole TNB14-004, which returned 3.42 m @ 3.41 g/t Au, 69.3 g/t Ag, 3.67% Pb and 3.17% Zn within a wider zone of 71.15 m @ 0.25 g/t Au, 14.0 g/t Ag, 0.73% Pb and 0.57% Zn (see news release of May 12, 2014).

TerraX thus has two distinct targets at Homer Lake: i) a gold-copper target in the west, with known mineralization associated with pyrrhotite and chalcopyrite stringers and an electromagnetic signature; and ii) structurally controlled gold-silver-lead-zinc mineralization in the eastern part of the area. The high grade structural target is enhanced by the presence of a lower grade envelope of mineralization. Both targets have good size potential. The origin of the two mineralization styles has not yet been determined, but both are considered worthy of further drill testing.

Joe Campbell, President of TerraX states, "The Homer Lake mineralization has now been traced at surface over a strike length of approximately 1.5 km and has been intersected by TerraX drilling to 150 m vertical depth from surface, in historical drilling to greater than 300 m vertical depth, and mineralization remains open down-dip from this drilling. The nature of the mineralization remains unclear (synvolcanic or epigenetic), but the large areal extent and high polymetallic grades provides us with an excellent base metal target to supplement the numerous gold targets that are the primary focus of TerraX's exploration on the YCGP."

Sampling included insertion of certified standards and blanks into the stream of samples for chemical analysis. Samples were prepared at ALS Chemex's laboratory in Yellowknife and shipped to their Vancouver facility for gold and ICP analysis. ALS is a certified and accredited laboratory service. It should be noted that, due to their selective nature, assay results from grab samples may not be indicative of the overall grade and extent of mineralization in the subject area. Technical information contained in this news release has been approved by Tom Setterfield, Vice President Exploration 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 Project encompasses 9,349 hectares of contiguous land immediately north of the City of Yellowknife in the Northwest Territories and includes TerraX's wholly-owned Northbelt property acquired in February 2013.

The project lies on the prolific Yellowknife greenstone belt, and covers 15 km of strike length on the northern extension of the shear system that hosts the high-grade Con and Giant gold mines. The project is host to multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district and contains innumerable gold showings and historic high grade drill results. Since January 2013, TerraX has consolidated the project area by acquiring and optioning numerous properties, including: Northbelt, Goodwin, Ryan Lake, Walsh Lake, and U-Breccia, as well as staking additional contiguous lands. Being all-season road accessible and within 15 km of the City of Yellowknife, YCPG is close to vital infrastructure, including: supplies, service providers, power, water, and skilled tradespeople.

For more information on TerraX and the Yellowknife City Gold Project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

Joseph Campbell, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
“This win means a great deal to us because it is decided by the readers – the people who understand how use of our technology enables new insights that drive the business,” said Matt Davies, senior director, EMEA marketing, Splunk. “Splunk Enterprise enables organizations to improve service levels, reduce operations costs, mitigate security risks, enhance DevOps collaboration, create new product and service offerings and obtain deeper insight into customer behavior. Being named Best Business App...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Datapipe has acquired GoGrid, a provider of multi-cloud solutions for Big Data deployments. GoGrid’s proprietary orchestration and automation technologies provide 1-Button deployment for Big Data solutions that speed creation and results of new cloud projects. “GoGrid has made it easy for companies to stand up Big Data solutions quickly,” said Robb Allen, CEO, Datapipe. “Datapipe customers will achieve significant value from the speed at which we can now create new Big Data projects in the clou...
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
SYS-CON Media announced today that PagerDuty has launched a popular blog feed on DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done.
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...