TerraX Acquires Strike Extensions of Past Producing Gold Mines, Ptarmigan and Tom in the Yellowknife gold camp, Canada
January 30, 2020
TSXV: TXR
Frankfurt: TX0
OTC Pink: TRXXF
PRESS RELEASE
TerraX Acquires Strike Extensions of Past Producing Gold Mines, Ptarmigan and Tom in
the Yellowknife gold camp, Canada
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is
pleased to announce the acquisition of two large claims, Aurora 1 and 2, which are readily
accessible by paved road from Yellowknife. The Aurora claims tie up ground containing strike
extensions of the Ptarmigan and Tom Mines (collectively 120k oz Au produced at an average
grade of 10 g/t Au) which were acquired by Terrax in 2018.
TerraX has entered into an agreement (the “Agreement”) to acquire a 100% interest in the claims
under the following terms:
1) $10,000 cash paid upon TSX-V acceptance
for filing of the Agreement ;
2) 100,000 TerraX shares issued upon TSX-V
acceptance for filing of the Agreement; and
3) A 2% Net Smelter return (NSR) with a buy
back of 1% for $1,000,000 and an additional
0.5% buy back for a further $1,000,000.
The acquisition of these claims will give TerraX an
additional 600 metres of known strike on the
Ptarmigan vein as well as the known east extension
of the Tom vein. (see attached map). A recent grab
sample taken on the Ptarmigan vein at the property
boundary between Aurora 2 and TerraX’s current
claims graded 19 g/t Au (see news release of July
25, 2018).
This acquisitions add fully accessible high-grade
targets to be evaluated in 2020, along with
planned drilling at Crestaurum and the Campbell
shear extension of the Con Mine. Being close to
Yellowknide, these high potential areas fit The
Company’s strategy of developing the Project
within local infrastructure.
About TerraX
Through a series of acquisitions, TerraX owns a 100% interest in the Yellowknife City Gold
("YCG") Project, encompassing 783 sq km of contiguous land within 12 kilometers of the city of
Yellowknife. The Project is located in the prolific Yellowknife greenstone belt, covering 70
kilometers of strike length along the main mineralized break in proximity to the former high-grade
Con and Giant gold mines which have produced over 14 million ounces of gold. The YCG Project
is close to vital infrastructure, including all-season roads, air transportation, service providers,
hydro-electric power and skilled tradespeople.
For more information on the YCG project, please visit our web site at www.terraxminerals.com.
On behalf of the Board of Directors,
"DAVID SUDA”
David Suda
President and CEO
For more information, please contact:
Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749 / Toll-Free: 1-855-737-2684
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.