VANCOUVER, March 22, 2013 /CNW/ - TerraX Minerals Inc. (TSX.V: TXR) (Frankfurt: TX0) continues compilation work on its wholly-owned Northbelt gold property
near Yellowknife, NWT and now has more than 200 historical drill holes
entered into a digital drill database. Available information includes
collar locations, downhole surveys, geology and gold assays.
Digitally compiled information reveals that 187 holes were drilled into
the Crestaurum deposit on the property. This information has allowed
for preliminary modelling of the mineralized shear at Crestaurum over
1.4 km of strike length. In addition, several dozen holes intersected
other gold mineralized shear zones on the property, most notably the
"Barney Shear", which is the interpreted extension of the Giant Mine
shear zone and extends the entire 13 km length of the Northbelt
property. Summaries and maps of some of the significant historical
gold occurrences compiled to date from the digitized data are available
on our web site and presentation at www.terraxminerals.com.
Compilation of the remaining drill information and historical geological
and geophysical surveys continues. The property has abundant historical
information that had been stored in mine archives at the former Giant
Mine site, and the ongoing compilation will be used to direct future
exploration programs that are planned to begin this spring. Initial
work will also involve permitting to carry out a detailed airborne
magnetic and electromagnetic survey across the entire property in
preparation for a comprehensive summer field program of mapping,
prospecting and location of historic drill holes. Permitting will also
be initiated for preliminary drill programs on known mineralized zones.
The Northbelt Gold property consists of 121 mineral leases totalling
8802 acres (3562 hectares) which cover approximately 13 km of strike
along the prolific Yellowknife Belt, 15 km north of the city of
Yellowknife (see press release January 2, 2013). The southern part of
the Property is accessible by road and the remainder is accessible by
all terrain vehicles. Northbelt is situated on the northern strike
continuation of the Yellowknife gold camp, immediately west of the
major break controlling gold mineralization within the camp. This
spatial location is host to all known gold deposits in the Yellowknife
camp, including the past producing 7.6 Moz Giant and the 5.5 Moz Con
mines. The property is host to multiple shears that are the recognized
hosts for gold deposits in the Yellowknife camp, and it contains
innumerable gold showings.
The technical information contained in this news release has been
approved by Joseph Campbell, the President of TerraX, who is a
Qualified Person as defined in "National Instrument 43-101, Standards
of Disclosure for Mineral Projects."
On behalf of the Board of Directors
Joseph Campbell, P.Geo
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.
SOURCE: TerraX Minerals Inc.
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