TerraX has been moving full speed ahead exploring its large land package at the Yellowknife City Gold project, an area with historic high-grade mines, that experts predict could become a district-scale project.
In the last few weeks TerraX Minerals Inc. (TXR:TSX.V) commenced a 17,000-meter winter drill program at Yellowknife City Gold project, nearly tripled the size of its land position, received a land-use permit for Southbelt and released assay results for the final 23 holes from its 2016 drill program.
Addressing the effective tripling of TerraX’s land package by staking an additional 253 sq km in three areas contiguous to its properties, TerraX CEO Joseph Campbell stated, “Since the beginning of the Yellowknife City Gold project we have pursued a goal of assembling and controlling a major Canadian gold district. The acquisition of this highly prospective new ground completes that goal and provides TerraX shareholders with additional opportunities for high grade gold discoveries.”
TerraX’s potential has not gone unnoticed. On Feb. 1, Beacon Securities named TerraX as one of its five “Spec Buys” for 2017, small-cap mining stocks that the firm believes have “discovery, development and/or takeout potential.” Analysts Michael Curran and Michael Bandrowski noted that the list highlights “our favourite micro/small-cap mining stocks which we believe can deliver newsflow this year that can lead to a material re-rating of shares.”
TerraX, the Beacon analysts noted, “controls a large land position on the Yellowknife gold belt, to the north and south of the city of Yellowknife, NWT, which has hosted two high-grade, +5MMoz gold mines (Giant and Con).” They added that “management has indicated the company will deliver mineral resource estimates at Crestaurum, Mispickel, Hebert-Brent, Barney, and Sam Otto zones before year end 2017. In addition, metallurgical test-work will be completed on …read more