TerraX Minerals Inc., the company that’s exploring gold deposits just outside Yellowknife, has received a land use permit that allows it to start drilling on property it owns south of the city.
The property is about three kilometers outside of the territorial capital, south of the now defunct Con gold mine.
TerraX is the company driving the Yellowknife City Gold Project, a project that covers over 129 square kilometres of land within the Yellowknife Gold Belt. Until recently, most of the company’s efforts have been focused north of the city.
In a press release issued this week, the company said analysis of its South Belt property found 94.9 grams of gold per tonne.
TerraX CEO Joe Campbell said the property contains “multiple high-grade gold occurrences with very high potential for discovery.”
Drilling is expected to start around the end of February. The company is planning to drill 10,000 meters of the surface exposures of gold-bearing structures on the property.
TerraX says these are extensions of the Con Mine site.
In a previous interview with Moose FM, Campbell said it was only logical to conduct exploratory work in areas where gold has been found before.
During 65 years of mining, Con Mine produced more than six million ounces of gold.
He also said results from the South Belt drilling program will help inform future decision-making.
“There’s no guarantee that that first program will precipitate a future one,” Campbell told Moose FM at the time. “It’ll depend on if we have any success at all.”