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TerraX acquires Burwash Mine property, completing ownership of high grade gold and silver trend on Eastbelt property
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2017) - TerraX Minerals Inc. (TSXV...
About this update from Gold Terra Resource Corp.
[{"type":"text","content":"TerraX acquires Burwash Mine property, completing ownership of high grade gold and silver trend on Eastbelt propertyVancouver, British Columbia--(Newsfile Corp. - October 25, 2017) - TerraX Minerals Inc. (TSXV: TXR) (OTC Pink: TRXXF) (FSE: TX0) is pleased to report that it has entered into an agreement to acquire the historic Burwash Mine property, immediately adjacent to its Eastbelt property, Yellowknife City Gold Project. The Burwash Mine (\"Burwash\") was the first gold producer in the Yellowknife gold district in 1935 when a pit was excavated and a shallow shaft (40 meters) was sunk on a high grade gold vein. Burwash assays were recorded up to 10,300 g/t Au and 2,540 g/t Ag. The average production grade at Burwash was 13.6 ounces per tonne (466 g/t Au) with approximately 450 ounces of gold produced (Source: The Operation History of Mines in the Northwest Territories, R. Silke, 2009). An initial surface sampling program at Burwash consisting of 85 grab samples from outcrop was carried out by TerraX this past summer as part of its due diligence prior to completing the agreement to acquire the property (see the map here) (https://www.terraxminerals.com/projects/yellowknife-city-gold/field-exploration-2017/#october-25-2017). Highlights Include:201 g/t Au, 23.2 g/t Ag in outcrop grab sample2.87 g/t Au, 16.2 g/t Ag, 5.55% Zn, 0.68% Pb in outcrop grab sampleThe sample grading 2.87 g/t Au, 16.2 g/t Ag, 5.55% Zn, and 0.68% Pb occurs in a highway quarry approximately 1.1 kilometers south of the 201 g/t Au sample located near the old Burwash shaft. This sample is also 1.8 kilometers north of TerraX's Angel vein showing on Eastbelt (up to 65.7 g/t Au and 4,910 g/t Ag reported July 18, 2017). All three of these areas could be on related structures. Joe Campbell, CEO of TerraX states, \"The acquisition of the Burwash property gives TerraX complete coverage of a 3 km trend of very high grade gold and silver values extending from our Angel target to the Burwash Mine area. TerraX has completed airborne geophysics, lake sediment sampling and biogeochemical sampling over this area in the summer of 2017, and this information will be used to aggressively explore this target next year.\"The Burwash property consists of mineral leases totalling 252 hectares. The property has no environmental liabilities, having been fully remediated by the Canadi...