TerraX Announces Start of 2020 Drilling Program at Yellowknife Gold Project
January 20, 2020
TSXV: TXR
Frankfurt: TX0
OTC Pink: TRXXF
PRESS RELEASE
TerraX Announces Start of 2020 Drilling Program at Yellowknife Gold Project
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF)
(“TerraX” or the “Company”) is pleased to announce the commencement of a 10,000 meter drilling
program at the Company’s wholly owned Yellowknife G old Project in the Northwest Territory
(“Yellowknife” or the “Project”). (Map ) This first phase of drilling will start at the Sam Otto gold
deposit due to better access during the winter and will focus on expanding the current NI 43-101
inferred mineral resource estimate of 735,000 ounce s of gold for the Project (Refer to press
release dated November 4, 2019 )
David Suda, President and CEO, stated, “We are excited to start the drilling program at Sam Otto,
one of the main gold deposits identified to date on the Property. The Sam Otto gold zone, which
is approximately 12 kilometres from Yellowknife, has already been defined in two main areas over
a strike length of almost two kilometres. Drilling results to date have confirmed the potential to
quickly and efficiently add quality gold ounces.”
The 10,000 metre drilling program at Sam Otto will consist of approximately 40 drill holes planned
along strike, to expand the known mineralization co rridor and test the open gap between Sam
Otto Main and Sam Otto South. The corridor being drilled is over a strike length of approximately
1500 meters, with hole spacing on average of 100 me ters to a depth of 250 metres. The winter
program at Sam Otto will utilize 2 rigs, and will be completed by April 2020. Additional holes may
be planned subject to the success of this ongoing p rogram. The Company also plans a second
drilling program at the Crestaurum high grade gold deposit for the summer of 2020.
The technical information contained in this news release has been approved by Joseph Campbell
who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
About TerraX
Through a series of acquisitions, TerraX owns a 100 % interest in the Yellowknife City Gold
("YCG") Project, encompassing 783 sq km of contiguo us land within 12 kilometers of the city of
Yellowknife. The Project is located in the prolific Yellowknife greenstone belt, covering
approximately 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, i ncluding 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.
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, events or otherwise.