In the last few weeks TerraX Minerals Inc. (TXR:TSX.V) commenced a 17,000-meter winter drill program at Yellowknife City Gold project, nearly tripled the size of its land position, received a land-use permit for Southbelt and released assay results for the final 23 holes from its 2016 drill program.
Addressing the effective tripling of TerraX's land package by staking an additional 253 sq km in three areas contiguous to its properties, TerraX CEO Joseph Campbell stated, "Since the beginning of the Yellowknife City Gold project we have pursued a goal of assembling and controlling a major Canadian gold district. The acquisition of this highly prospective new ground completes that goal and provides TerraX shareholders with additional opportunities for high grade gold discoveries."
TerraX's potential has not gone unnoticed. On Feb. 1, Beacon Securities named TerraX as one of its five "Spec Buys" for 2017, small-cap mining stocks that the firm believes have "discovery, development and/or takeout potential." Analysts Michael Curran and Michael Bandrowski noted that the list highlights "our favourite micro/small-cap mining stocks which we believe can deliver newsflow this year that can lead to a material re-rating of shares."
TerraX, the Beacon analysts noted, "controls a large land position on the Yellowknife gold belt, to the north and south of the city of Yellowknife, NWT, which has hosted two high-grade, +5MMoz gold mines (Giant and Con)." They added that "management has indicated the company will deliver mineral resource estimates at Crestaurum, Mispickel, Hebert-Brent, Barney, and Sam Otto zones before year end 2017. In addition, metallurgical test-work will be completed on several of the mineralized zones."
Jay Taylor, in Gold, Energy & Tech Stocks, described TerraX as a "junior gold mining company that has a world-class exploration project and also enjoys the technical assistance of Osisko Gold Royalties, which owns 11% of the company." Its land package is "on trend with two of the highest-grade gold mines ever produced in Canada, those being the Con Mine with 6.1 million ounces grading 16.1 g/t gold and the Giant Mine where 8.1 million ounces of gold were produced grading 16.0 g/t gold. Of six high-grade Archean gold districts in Canada, where some 251 million ounces of gold have been mined over the years, the Yellowknife District is the most northerly and least explored of these six districts."
Taylor also points out that the project is well located for infrastructure: "North though this company's exploration target is, it's hard to find such an untapped exploration project with better infrastructure because of its proximity to Yellowknife. From the city, there is year-round road access to the property. There is daily jet service out of the Yellowknife airport that is only 8 km by road from the city. Yellowknife is a city of good size with skilled miners, and with the Blue Fish Hydro Dam on the property, it has an abundance of low-cost power."
Gwen Preston wrote in Resource Maven that "TerraX is turning over every stone to find the next major gold deposit in the Yellowknife area—and its huge property, covering most of a prolific greenstone belt, hosts numerous targets to test. The potential at this project allowed the TerraX team to raise money even in the bear market, which meant it hit the bull market running."
Preston also noted that "TerraX has its hands full trying to advance all of the targets at the Yellowknife City project but geologist Joe Campbell is the right man for the job. Campbell discovered Meliadine, a major Canadian gold deposit that is now one of Agnico Eagle's key mines. Campbell is being methodical at the Yellowknife project—all the drilling is oriented core so they can extract as much information as possible from each hole and [an] immense amount of data analysis is going on behind the scenes to piece this complicated and prospective puzzle together."
Announcing the 17,000-meter winter drill program at Yellowknife City Gold, CEO Joseph Campbell stated, "Our 2017 winter drill programs will focus on four of our high priority gold targets with a goal of significant new discoveries and the expansion of known zones of gold mineralization. The next six months will be exciting for shareholders as there should be a steady flow of exploration drilling news that will highlight the growing potential of this exciting district."
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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, shares 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.
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Disclosures for TerraX Minerals from Beacon Securities, Spec Buys for 2017, Feb. 1, 2017
Does Beacon, or its affiliates or analysts collectively, beneficially own 1% or more of any class of the issuer's equity securities? No
Does the analyst who prepared this research report have a position, either long or short, in any of the issuer’s securities? No
Does Beacon Securities beneficially own more than 1% of equity securities of the issuer? No
Has any director, partner, or officer of Beacon Securities, or the analyst involved in the preparation of the research report, received remuneration for any services provided to the securities issuer during the preceding 12 months? No
Has Beacon Securities performed investment banking services in the past 12 months and received compensation for investment banking services for this issuer in the past 12 months? No
Was the analyst who prepared this research report compensated from revenues generated solely by the Beacon Securities Investment Banking Department? No
Does any director, officer, or employee of Beacon Securities serve as a director, officer, or in any advisory capacity to the issuer? No
Are there any material conflicts of interest with Beacon Securities or the analyst who prepared the report and the issuer? No
Is Beacon Securities a market maker in the equity of the issuer? No
Has the analyst visited the head office of the issuer and viewed its operations in a limited context? Yes: Mike Bandrowski - TerraX Minerals (meeting with management, but no site visit)
Did the issuer pay for or reimburse the analyst for the travel expenses? No
The Beacon Securities Analyst named on the report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst’s personal views about the company and securities that are the subject of the report; or any other companies mentioned in the report that are also covered by the named analyst. In addition, no part of the research analyst’s compensation is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.
Disclosures from Jay Taylor's Gold, Energy & Tech Stocks, Dec. 16, 2016
Taylors’ Hard Money Advisors, Inc (THMA) provides investment ideas solely on a paid subscription basis. Companies are selected for presentation in Jay Taylor's Gold, Energy & Tech Stocks (JTGETS) strictly on their merits as perceived by THMA. No fee is charged to the company for inclusion.
The editor, his family and associates and THMA may from time to time have a position in the securities of the companies mentioned herein.
Disclosures from Resource Maven, Dec. 20, 2016
Companies are selected based solely on merit; fees are not paid. Maven is not registered as a securities broker dealer or an investment adviser in any jurisdiction.
The publisher, owner, writer or their affiliates may own securities of or may have participated in the financings of some or all of the companies mentioned in this publication.