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09:55 AM EDT, 08/23/2016 (MT Newswires) -- TerraX Minerals Inc. (TXR.V) has added a second drill to the 27,000 metre drill program now underway on its wholly-owned Yellowknife City Gold project in the Northwest Territories.
The current drill program began in July on the Mispickel target, where drilling during the winter of 2016 returned discovery holes of 8.60 m @ 12.87 g/t Au and 7.30 m @ 23.60 g/t Au (News release of February 23, 2016), followed by an intersection of 8.0 m @ 60.60 g/t Au drilled down dip on that same section announced on June 6, 2016.
The first drill remains focused on expanding Mispickel mineralized zones while the second drill will be drilling aggressive step-out holes along other sub-parallel mineralized structures at Mispickel identified by surface mapping and sampling. Having recently completed a $7.5 Million funding, TerraX currently has over $11.7 Million in cash on hand and is fully funded through the balance of this program.
TerraX shares were recently down 1.1% at $0.870 apiece.
Price: 0.870, Change: -0.010, Percent Change: -1.14
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