Ivanhoe’s Kipushi zinc mine in DRC officially reopens
The restart marked exactly a century since the mine first went into production.
Surface sampling at a Northwest Territories gold and silver property, located in the shadow of several large past-producing mines, has revealed some high-grade results.
TerraX Minerals Inc. (TXR:TSX.V) released assay results from the Yellowknife City Gold project in Canada’s Northwest Territories on July 18. Surface sampling from the Angel and Duck Lake zones revealed some high-grade results, including 67.5 g/t gold and 4,910 g/t silver at Angel and 20.3 g/t gold at Duck Lake.
The CEO of TerraX, Joe Campbell, stated that “the discovery of high grade gold and silver during surface sampling on our newly acquired Eastbelt property is an excellent start to an extensive district scale exploration program now underway. The Angel and Duck Lake areas both have significant outcropping mineralization, which occurs in a strong east-west structural trend that is due east of the past producing high grade Con gold mine. In addition, the impressive silver results at Angel indicate an exciting new style of mineralization that has not been previously reported in the camp.”
PearTree Securities’ Vice President and Senior Mining Analyst Gary Baschuk visited the property and filed a report on July 21, noting, “TerraX owns a large land package consisting of 418 sq km covering the extensions of past multi-million-ounce gold producers in a mining friendly jurisdiction.”
Baschuk referenced the recent assay results: “Numerous high-grade gold deposits and showings occur on the property and TerraX has discovered and delineated additional mineralization, most recently a 65.7 g/t gold grab sample from Angel, Eastbelt Property. We believe the extensive network of shears and related gold mineralization, currently only tested to relatively shallow depths, is highly conducive for additional discoveries.”
The analyst also stated that TerraX is “taking a strategic and thorough approach to exploration by conducting detailed mapping and sampling to better understand controls on mineralization followed by geophysics and finally drilling to test the concepts. Mispickel, a recent discovery, is showing excellent promise with high-grade gold intercepts with expansion potential in all directions. In addition to high-grade zones, large, shallow, potentially bulk mineable mineralization has been discovered and partially delineated, e.g., Sam Otto on the Northbelt.”
Baschuk noted TerraX’s project location is “on-strike to multi-million ounce, high-grade (avg 16 g/t) past producing Con (6.1 mln oz) and Giant Yellowknife (8.1 mln oz) mines.”
TerraX stated that results are pending for an additional 2,000 samples.
Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: TerraX Minerals Inc. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.
