TerraX Extends Gold Mineralization Another 600 Meters In Phase 1 Of Drilling At Sam Otto
September 09, 2019 TSX-V: TXR
Frankfurt: TX0
OTC Pink: TRXXF
News Release
TerraX Extends Gold Mineralization Another 600 Meters In Phase 1 Of
Drilling At Sam Otto
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to
announce the extension of gold mineralization at Sam Otto by an additional 600 meters of strike with results from
1182 meters of drilling in six holes (Figure 1). 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:
Figure 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.
Figure 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.
Table 1:
Sam Otto South - Phase 1, 2019 DDH
Drill Hole Dip Azimuth
UTM Location
From (m) To (m)
Interval
(m) Au g/t Easting Northing
TSO19-043 -45 270 639740 6943035 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 -45 270 639742 6943140 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 -45 270 639740 6943339 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 -45 270 639787 6943420 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 -45 275 639765 6943230 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 -45 275 639750 6942810 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.
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.