TSX-V: TXR
Frankfurt: TX0
VANCOUVER,
March 22, 2013 /PRNewswire/ - 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"
Joseph Campbell, P.Geo
President
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.