Terrax Minerals Inc.
TerraX Minerals Inc. is a junior gold exploration company focused on creating shareholder value through discovery. The Company's management team is highly experienced, with an impressive track record of success. TerraX Minerals is focused on the 100%-owned Yellowknife City Gold Project in the Yellowknife gold district, the most northerly and least explored of the six major high-grade gold districts in Canada.
With ready access to infrastructure, TerraX has been able to cost-effectively generate multiple new high-grade gold discoveries with a view to re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Yellowknife City Gold (“YCG”) Project, Northwest Territories, Canada
The Yellowknife City Gold ("YCG") project encompasses 783 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled trades people.The YCG lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project's potential as a world-class gold district.
Canada's Next World Class Gold District
Analysis and review of the entire district by a panel of internal and external global experts have identified 4 highest drill targets:
Barney Deformation Corridor Target – New Opportunity
Sam Otto Target
Homer – Gold and VMS Target
Confidence vs. Potential
Timeline – 2 Year Plan
Management and Directors
Joseph Campbell, P.Geo., Executive Chairman and Director
More than 38 years of global exploration and mining experience ranging from exploration to development
Lead technical team that discovered Meliadine gold project in Nunavut.
Chief Geologist for 250 million tonne Nickel laterite deposit in Cuba (Pinares)
David Suda, President and Chief Executive Officer
Over a decade of experience in capital markets including sales and trading, investment banking, marketing and corporate strategy.
Stuart Rogers, Chief Financial Officer and Director
More than 27 years as founder, director and senior officer of public companies listed on TSXV, TSX and NASDAQ.
Has been involved in the venture capital community in Vancouver since 1987
President of West Oak Capital Group, Inc.
Alan Sexton, P.Geo., M.Sc., Vice President of Exploration
More than 37 years of exploration experience ranging from regional exploration to definition drilling. Chief geologist of Meliadine discovery team.
Elif Lévesque, CPA, CGA, MBA, Director
Chief Financial Officer of Osisko Gold Royalties Ltd.
Paul S. Reynolds, P.Geo., Director
Has extensive experience in mineral exploration and public company management
Was a founder and senior officer of Athlone Energy Ltd.
President of Triumph Gold Corp.
Russell Starr, MBA, MA, Director
Senior Vice President of Auryn Resources Inc.
Rene Carrier, Director
President of Euro-American Capital Corporation
Former Vice-President of Pacific International Securities Inc.
September 30, 2019, Terrax Minerals Inc. announced that it has entered into an agreement with Gold Matter Corp., a private closely held corporation, whereby the company will acquire all of the shares of Gold Matter in exchange for five million shares of the company on a one-for-one basis, resulting in former shareholders of Gold Matter holding approximately 4 per cent of the issued and outstanding common shares of the company. The shareholders of Gold Matter have agreed to a four-month hold on the Terrax shares to be issued to them, with Gerald Panneton, the founder, agreeing to a further eight-month hold (for a total 12-month hold).
On September 09, 2019,Terrax Minerals Inc. has extended the gold mineralization at Sam Otto by an additional 600 metres of strike with results from 1,182 m of drilling in six holes. These results combined with the drilling of three holes in 2018, the Sam Otto South zone now extends for 1.2 kilometers, and remains open in all directions. Gold mineralization of the Sam Otto trend has been defined for a minimum of 2.5 kilometers along the 5 kilometer Sam Otto structural corridor.
Phase 1 drill highlights from the Sam Otto South zone include: 7m of 2.93 g/t gold (within a broader interval of 40 m of 0.6 g/t Au) 14m of 1.36 g/t gold (within a broader interval of 34m of 0.64 g/t Au), 11m of 1.24 g/t gold, and 9m of 1.2 g/t gold.
On July 31, 2019, TerraX Minerals Inc. announced that it has completed phase one drilling at Sam Otto and commenced drilling at North Giant Extension target. TerraX has moved the 2019 summer drill program to Berry Hill zone at the Yellowknife City gold (YCG) project. Phase 1 at Sam Otto South has been completed with approximately 1,200m of drilling over 1km of strike extension. All holes intersected targeted shear zones and assays are pending. TerraX will return to Sam Otto South later this summer to follow up with more aggressive step out holes intended to build strike extension to the south for an additional 2km.
On July 8, 2019, TerraX Minerals Inc. announced that it has begun its 2019 summer drill program at the Yellowknife City gold project (YCG). Phase 1 has begun at Sam Otto South to test the 3.5-kilometre strike extension of the already defined gold structures at Sam Otto Main. Approximately 3,500 metres of diamond drilling will test and extend the strike and continuity of the 2018 stepout discovery hole at Sam Otto South.
On June 26, 2019, TerraX Minerals Inc. announced that it has successfully closed the bought deal financing initially announced on June 6, 2019, and later on June 13, 2019, with respect to an upsize. Pursuant to the offering, the Company issued an aggregate of 1,782,500 common shares of the Company at a price of 36 cents per share, 2.43 million flow-through (FT) common shares of the Company at a price of 41 cents per FT share and three million charity FT common shares of the Company at a price of 50 cents per charity FT share, for aggregate gross proceeds of $3,138,000.
On June 13, 2019, TerraX Minerals Inc. announced that it has entered into an amended agreement with PI Financial Corp. on behalf of a syndicate of underwriters to increase the size of the previously announced bought deal offering to raise aggregate gross proceeds of approximately $3-million.
On June 6, 2019, TerraX Minerals Inc. announced that it has entered into a $2.5 million financing agreement with a syndicate of underwriters led by PI Financial Corp.
On May 08, 2019, TerraX Minerals Inc. reported the corporate update and further information about its proposed 2019 exploration plans on its Yellowknife City Gold (YCG) Project.
David Suda, President and CEO, stated: "We would like to thank our shareholders for their commitment and patience over the past 12 months. The company has gone through significant changes and achieved several key milestones. This work has brought us to a major inflection point in the company's history and has put TerraX on the verge of what could be a very significant discovery. We look forward to announcing more details regarding phase 1 of our exploration plans in the coming weeks."
On March 21, 2019, TerraX Minerals Inc. announced that a Type B water licence has been issued by the Mackenzie Valley Land and Water Board (MVLWB) to TerraX Minerals Inc., approving the Company's broad exploration plan for all landholdings of its Yellowknife City gold (YCG) project.
On March 18, 2019, TerraX Minerals Inc. announced that the Company confirms that gold structures that hosted one of Canada's highest grade past producing mines (the Giant mine) extend onto TerraX target zone.
On January 14, 2019, TerraX Minerals Inc. announced that in co-operation with the Geological Survey of the Northwest Territories and the Giant mine remediation project, TerraX was able to recover 16,000 metres of historical drill core. In a preliminary review of the core TerraX geologists have identified visible gold and are currently logging and splitting the favourable sections of core for assaying.
On January 8, 2019, TerraX Minerals Inc. announced Yellowknife City Gold Project 2019 drill targets. Four top priority targets were flagged for deposit expansion or confirmation drilling: Barney Deformation Corridor (BDC), Crestaurum, Sam Otto and Homer.