09 Sep 2019, 22:01 GMT+10
VANCOUVER, BC / ACCESSWIRE / September 9, 2019 / 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."
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.
Sam Otto South - Phase 1, 2019 DDH
Watch latest videos
Get a daily dose of Memphis Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Light Rain in Memphis
DAMASCUS, Syria - Tensions in Syria have reached breaking point again. Syrian government attacks in Ilib province, Israeli attacks on ...
GENEVA, SWITZERLAND - China has published new data on more than 44,000 confirmed cases of Covid-19, which show the disease ...
ISLAMABAD, Pakistan - The Taliban appeared confident Monday it will sign a peace agreement with the United States by the ...
MILAN - The cardinal's response was not what Yolanda Martinez had expected - or could abide.Her son had been sexually ...
The struggle over the mineral deposits in Ontario's Ring of Fire has taken a surprising turn.With all eyes on British ...
MUNICH - The Palestinian prime minister lashed out Sunday at U.S. President Donald Trump's proposal to end the Mideast conflict, ...
SYDNEY, Australia - Sentiment soured on Asian bourses on Tuesday with all the major indices heading south.Apple weighed on markets ...
NEW YORK, New York - Amazon founder Jeff Bezos says he will give $10 billion of his own money to ...
LONDON, UK - Shares in the UK and Europe were on the rise on Monday, although markets were quiet with ...
MUMBAI, India - Stock market regulator, the Securities and Exchange Board of India (SEBI) on Monday decided to allow live ...
SYDNEY, Australia - Shares in Japan sank on Monday as the country's economy recorded its slowest quarterly growth in six ...
NEW YORK, New York - The State of New York will not be appealing the case it jointly pursued with ...