TerraX commences exploration at Northbelt gold property, Yellowknife, NWT; acquires additional claims adjacent to Northbelt and closes off private placement

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[{"type":"text","content":"\n\n\nTSX-V: TXR\nFrankfurt: TX0\n\n\nVANCOUVER, June 3, 2013 /CNW/ - TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has commenced exploration on its wholly-owned Northbelt property in the\n Yellowknife gold camp, Northwest Territories with an airborne survey to\n acquire detailed magnetic, electromagnetic (EM) and radiometric data\n that began on May 30, 2013 and is expected to be completed within the\n week.\n\n\nThe Northbelt gold property encompasses 3,562 hectares on the prolific\n Yellowknife belt, only 15 km north of the city of Yellowknife, and\n covers 13 km of strike on the northern extension of the geology that\n contained the Giant (7.6M oz) and Con (5.5M oz) gold mines.   The\n Northbelt property is host to multiple shears that are the recognized\n hosts for gold deposits in the Yellowknife camp and it contains\n innumerable gold showings.\n\n\nThe shears that control gold mineralization on the property are thought\n to have higher magnetic signatures than the surrounding rocks, and\n therefore the detailed magnetics should be an effective targeting tool.\n In addition, the alteration associated with gold mineralization has\n been shown to have a potassic component which can be picked up by the\n radiometric survey. Together, magnetic and radiometric data should be\n helpful in targeting the best portions of the mineralized shears.\n\n\nThe EM survey is designed to identify anomalies associated with\n volcanogenic massive sulphide deposits that occur in the north of the\n property. Initial site reconnaissance carried out earlier in May on\n outcrop exposures of Zn-Pb-Cu-Ag-Au massive sulphide zones indicates\n they have sufficient thickness and strike continuity for EM response.\n\n\nIn addition to preliminary exploration work, TerraX has also begun\n community engagement meetings within Yellowknife, and within the First\n Nations communities of N'Dilo and Dettah. Initial responses to the\n introduction of TerraX's exploration plans have proven to be positive.\n TerraX has begun reviewing a proposal for an Akaticho First Nations\n Exploration Agreement to help guide its interaction with these First\n Nations groups during its future exploration programs.\n\n\nMore detailed prospecting and ground truthing of historical work is\n scheduled to begin with a small field crew on June 10th. Initial contacts ha...

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