TerraX acquires Northbelt Gold Mining Leases in Yellowknife, NWT; Historic Drill Results include 24.60 g/t Au over 4.63 m and 4.61 g/t Au over 19.71 m.

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[{"type":"text","content":"\n\n\n\n\n\nTSX-V: TXR\nFrankfurt: TX0\n\n\nVANCOUVER, Feb. 13, 2013 /CNW/ - TerraX Minerals Inc. (TSXV: TXR) (Frankfurt: TX0) has completed the purchase of the Northbelt leases (the \"Property\") in\n the Yellowknife area of the Northwest Territories, Canada. As\n previously announced on January, 2 2013 TerraX is purchasing an\n unencumbered 100% ownership of the Property with no private royalties\n or option payments, no assessment requirements and with low annual\n maintenance fees ($2/acre/year). Review of historic information from\n the Giant Mine archives and filed at the NWT Geoscience Office\n determined that numerous historical high grade gold intersections are\n situated on the Property, including 24.60 g/t Au over 4.63 metres at the Crestaurum deposit and 4.61 g/t Au over 19.71 metres on a sub-parallel shear (20 Shear).\n\n\nThe Property consists of 121 leases totalling 8802 acres (3562 hectares)\n which cover approximately 13 km of strike along the prolific\n Yellowknife Belt, 15 km north of the city of Yellowknife. The southern\n part of the Property is accessible by road and the remainder is\n accessible by all terrain vehicles. Northbelt is situated on the\n northern strike continuation of the Yellowknife gold camp, immediately\n west of the major break controlling gold mineralization within the\n camp. The Property is host to multiple shears that are the recognized\n hosts for gold deposits in the Yellowknife camp, including the past\n producing 7.6 Moz Giant and the 5.5 Moz Con mines, and it contains\n innumerable gold showings. Known mineralization on the Property\n contains free milling gold. Maps of the Property and its location are\n available at www.terraxminerals.com.\n\n\nAs previously announced on February 5, 2013 TerraX has been reviewing\n the historical technical data on the Property, including 300-400\n historical drill holes that were completed on the Property between 1945\n and 1996, mostly concentrated on the Crestaurum deposit (approximately\n 200 holes). The Property was explored at the beginning of the\n Yellowknife gold rush in the early 1940s. It was staked by multiple\n claimholders in 1944 with the discovery of the outcropping Crestaurum\n deposit. Drilling commenced in 1945 and the Property was intermittently\n active throughout the 1960s and 1970s. By the 1970s Giant Gold Mines\n had larg...

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