TerraX Minerals Presentation Jan 2014

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  • 1. TXR TSX‐V       TX0 Frankfurt NORTHBELT PROPERTY and Walsh Lake, Goodwin Claims Leveraging Historic Exploration in Prolific and Accessible Yellowknife Gold Belt January 2014
  • 2. Forward Looking Information This presentation may contain “forward‐looking statements” which reflect the Company’s current expectations regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content and results of work programs, geological gp p p y q , g, p g ,g g interpretations and potential mineral discoveries, and negotiation and closing of future financings. The statements reflect the current beliefs of the management of the Company and are based on currently available information. Accordingly, these statements are subject to known and unknown risks, uncertainties and other factors which could cause the actual results, performance, or achievements of ,p , the Company to differ materially from those expressed in, or implied by, these statements. In addition, investors are cautioned that this presentation may contain information about mineral p p properties adjacent to or near the Company’s properties and in which the Company has no right or j p y p p p y g interest. Mineral deposits on such adjacent or near properties are not indicative of the mineral deposits, if any, which may be found on the Company’s properties. All scientific or technical information contained on this presentation has been reviewed and approved p pp by Dr. Tom Setterfield, P.Geo., the VP Exploration of TerraX Minerals Inc., who is a "qualified person" as defined in National Instrument 43‐101 of the Canadian Securities Administrators. 2
  • 3. Company Overview Dec 31, 2013 Issued Shares: Issued Shares: Options: 500,000 @  650,000 @  2,050,000 @ 360,000 @  100,000 @ 295,000 @  39.9 mln 39 9 mln Total : $0.10 (Apr. 30, 2014) $0.10 (Aug.  2, 2014) $0.17 (Jun. 28, 2018) $0.28 (Aug. 29, 2018) $0.61 (Sept 30, 2016) $0.45 (Dec 23, 2016) 4.0 mln Total: 7.7 mln Warrants: 1,855,000 @ 3,502,243 @  62,500 @ 1,188,180 @ 1 188 180 @ 105,556 @ $0.10 (Jan. 21,2015) $0.30 (May.  8, 2016) $0.30 (May. 30,2016) $0.50 (Dec 20, 2015) $0 50 (Dec 20 2015) $0.50 (Dec 27, 2015) Fully Diluted Shares: 50.6 mln Basic Market Cap ($0.50/share) Basic Market Cap ($0 50/share) ~ $20 mln $20 mln Held by Management:  14.5% Held by Virginia Mines Inc: 10.4% Working Capital g p $1.6 million $0.045 Dec 31, 2012 – $0.50 Jan 14, 2013 TXR TSX‐V        TXR TSX‐V TX0 Frankfurt 3
  • 4. Accomplished Management Joseph Campbell, P. Geo – President and Director • 34 years of experience: exploration and mining on a variety of deposit types • Project Manager for 7 years on Meliadine (now Agnico Eagle) a 5 Moz gold resource in  Nunavut. Taken to pre‐feasibility level incl: mineable reserve, production rates & schedules,  Cap Ex/Op Ex for process, mining and G&A.  • Evaluated Au potential along a known Au trend in Ontario. Managed subsequent drilling,  authored a NI 43 101 ore resource report on a growing 2,000,000 oz Au deposit  authored a NI 43‐101 ore resource report on a growing 2 000 000 oz Au deposit • Study Manager for a resource estimate on El Abra porphyry Cu deposit in Chile   • Chief Geologist for 250 Mt tonne Nickel laterite deposit in Cuba (Pinares) Dr. Thomas Setterfield, P. Geo – VP Exploration and Director • 34 years of international experience in exploration and mining including: • Ph.D from Cambridge University  Cambridge, England (1991)  Ph D from Cambridge University – Cambridge England (1991) • Expert in IOCG, Epithermal Au and VMS deposit types  • Consultant to QGX Ltd. for Golden Hills VMS deposit in Mongolia • VP Exploration for Monster Copper from 2002 to takeover by Mega Uranium VP Exploration for Monster Copper from 2002 to takeover by Mega Uranium
  • 5. NORTHBELT PROPERTY Acquired Northbelt Property  Feb 2013 • Property on north boundary of  Yellowknife, a City Founded on  Gold Mining • 100% Owned Mine Leases – Holding Cost $17,000/year  H ldi C t $17 000/ • No work commitments • Virginia Mines holds option to  purchase a 2% NSR for $2 million. City of  Yellowknife 5
  • 6. Infrastructure ‐ Ideally Situated NORTHBELT PROPERTY City of  Yellowknife 6
  • 7. TerraX Properties Overlaid on Prospective Geology G l NORTHBELT PROPERTY WALSH LAKE PROPERTY Property Acquisitions 2013 p y q •Northbelt – February 2013 •Goodwin – June 2013 •Walt Humphries Property p p y (Walsh Lake) – October 2013 •Additional Staking Winter 2013/14 GOODWIN  CLAIMS 7 7
  • 8. Regional Geology Alternate Stratigraphic Column 8
  • 9. Regional Geology: Comparison to Timmins 9
  • 10. Property Geology 10
  • 11. Northbelt Property – The Right Geology • Northern Extension of the Geology  Containing the Con (5.5M oz) and Giant  (7.8M oz) Mines @ 11 g/t Au (7 8M ) Mi @ 11 / A • Area: 36.5 Sq km  • 13 km Strike Length on  Main Yellowknife Gold Break • Historical reports show at least 463 holes  drilled on Northbelt property CRESTAURUM • Innumerable Au Targets Including historic  bl l d h Crestaurum Deposit  C-ZONE LYNX GBK SUPERCREST 11
  • 12. Excellent and Accessible Infrastructure Bluefish Hydro Dam BLUEFISH HYDRO DAM Opened July 30th, 2013 Current Capacity 7.5Mw ‐ Expandable POWER LINE CRESTAURUM Accessible with Infrastructure • Year Round Road Access from City  of Yellowknife  of Yellowknife • 8 km from Yellowknife Airport • 2 km from new Blue Fish Hydro‐ Electric Dam Electric Dam CRESTAURUM ROAD Airport GIANT MINE 12
  • 13. Previous Work •Previous Work included >450 drill holes •TerraX has recovered more or less complete core from ~105 105 holes and mineralized intersections from an additional 74 holes
  • 14. Numerous Prospective Targets and Showings Selected Historical Drill Hole Intersections 14
  • 15. Summer 2013 Work Program Exploration Campaign – Completed in 12 Weeks of Field Work  •Located High Grade Au on New and Historically Reported  Zones •Located High Grade Precious Metal Rich Massive Sulphides At Homer Lake VMS p p p y p g •Completed Helicopter Borne Geophysics ‐ Defined New Exploration Targets • • • Multi‐kilometer magnetic signatures aligned with Au mineralization  Multi‐kilometer radiometric signatures aligned with Au mineralization  A large untested EM anomaly proximal to historic surface trenches and drill hole  intersections of high grade precious metal rich base metals (Pb, Zn, Cu) g g p ( , , ) •Work on Historical Drilling • • • • • Discovered 200 drill hole cores stored at the Giant Mine Site  Located drill collars for more than 250 historical drill holes  surveyed 155 holes Located drill collars for more than 250 historical drill holes – surveyed 155 holes Constructed new logging facility at Yellowknife Airport Began re‐logging and re‐sampling of historical drill core Preparation for winter drill program on schedule, including initial community engagement  meetings and permitting meetings and permitting 15
  • 16. Northbelt Core Relocation Core from approximately 180 drill holes  Core from approximately 180 drill holes previously stored at the Giant Mine site  was moved to TerraX’s core facility
  • 17. Core Facility
  • 18. Finding Old Drilling Collars +250 drill  250 d ill hole collars  found,  155   surveyed  this June this June 18
  • 19. Airborne Survey July 2013 MAGNETICS POTASSIC RADIOMETRICS Homer Lake VMS Target Low level Helicopter Borne System • 520 li KM 520 line KM • East‐West lines 100m spacing • Two North‐South tie lines 3km  spacing p g • Completed for 1/3 cost of other  Northern Surveys because of  proximity to Yellowknife Airport Low level Helicopter  Borne System 100‐200’ high (30‐60 m) EM Crestaurum Barney 19
  • 20. Prospecting June‐September 2013 Completed +700 Sample Program Assays up to 145 g/t Au in grab sample Chips up to 24.26 g/t Au over 4.0m Walsh Lake 7.29 g/t Au over 6.0m Assay values of 49.30 g/t Au and 55.2 g/t f / / Ag in one grab sample at Pinto 529 g/t Ag, >20% Pb and 9.44% Zn in grab sample from Homer Lake 20
  • 21. 2013 Prospecting Results Significant Findings • P Prospecting confirmed and  i fi d d refined the location of historical  structures • Extensive Strike Extent of  Mineralized Structures • Both Northbelt and Walsh Lake  Properties have outcropping  high grade structures high grade structures • Homer Lake base metal play has  multiple mineralized structures  having extensive strike lengths • Large areas of both properties  yet to be explored (2014  program) 21
  • 22. CRESTAURUM DEPOSIT CIRCA 1948 Today 22
  • 23. Crestaurum Deposit – Re‐sampled Core Results  Assay Intervals from Crestaurum Deposit Drill Hole DDH85-118 DDH85 121 DDH85-121 DDH85-134 DDH85-157 DDH85-166 DDH85-167 DDH85-175 DDH85 175 North Shoot FROM (m) TO (m) Width (m) 91.13 98.00 6.87 98.00 100.00 2.00 99.00 102.00 3.00 146.00 148.00 2.00 126.00 132.00 6.00 96.00 101.00 5.00 143.00 143 00 145.00 145 00 2.00 2 00 Au g/t 13.07 5.92 13.45 67.69 11.96 5.47 10.46 10 46 Drill Hole DDH85-150 DDH85-151 North-Ext Shoot FROM (m) TO (m) Width (m) 53.00 48.00 5.00 86.00 88.00 2.00 Au g/t 62.90 6.55 Drill Hole DDH85-177 85 DDH85-181 DDH85-187 Central Shoot FROM (m) TO (m) Width (m) 57.00 5 00 59 00 59.00 2.00 00 67.00 70.00 3.00 81.00 86.00 5.00 Au g/t 10.04 00 12.79 20.66 Drill Hole DDH85-173 DDH85-174 South Shoot FROM (m) TO (m) Width (m) 54.00 59.00 5.00 61.00 66.00 5.00 Au g/t 12.43 8.03 23
  • 24. Crestaurum Zone ‐ Vein 1    187 DDH Section 2 Section 1 Central Ore Shoot South Ore Shoot 0m 100m 200m 400m North Ore Shoot North Ext Ore Shoot BLOCK MODEL GRADES DDH85-150 85 50 North Ext Ore Shoot DDH85-118 North Ore Shoot • 123 Crestaurum drill collars  located and surveyed to cm  accuracy – June‐July 2013 • Core from 74 Crestaurum  drill holes found, re‐logged,  re‐sampled • Pl Plan to drill 1500m in 2014  d ill 1500 i 2014 Central Ore Shoot 85-187 PLAN MAP 0m 100m 200m 400m South Ore Shoot 85-174 24
  • 25. Crestaurum Deposit – South Shoot Trench Chip Sample – June 2013 4.00m @ 24.26 g/t CRESTAURUM TRENCH SAMPLING CRESTAURUM TRENCH SAMPLING DDH85-174 – September 2013 5.00m @ 12.43 g/t 25
  • 26. Crestaurum Deposit – North Extension Shoot DDH85-150 – September 2013 5.00m @ 62.90 g/t DDH85-148 – September 2013 5.00m @ 4.43 g/t DDH85-151 – September 2013 3.00m @ 4.59 g/t 26
  • 27. Crestaurum Historical Metallurgy 1985 Program: 44 samples of drill core rejects  from 7 drill holes – we have  1985 P 44 l f d ill j t f 7 d ill h l h re‐sampled all 7 holes and verified the grades Composite A  p • Drill grade of 0.357 oz/ton (cut to 1 oz/t as per resource estimate) • Drill grade un‐cut 0.627 oz/ton • Calculated metallurgical head grade 0.72 oz/ton Composite B • Drill grade of 0.297 oz/ton (cut to 1 oz/t as per resource estimate) • Drill grade un‐cut 0.397 oz/ton • Calculated metallurgical head grade 0.454 oz/ton Findings (Quoted from Report*) Using Direct Cyanide (Free Milling Method) “Both composites were determined to be free milling and best suited for a straight  cyanidation process…expected to yield recoveries in the order of 95%.” Using Refractory Recovery Method (Roasting) – The process used at Giant Mine “Very low recoveries of about 44‐62% were obtained…an alternative method of  processing would be necessary.” *Source: F.A. Perrino, Summary Report of Exploration Activities, Yellowknife Belt,  Including Northbelt Yellowknife Mines Ltd., 1985 too 1988, September 1988 27
  • 28. BARNEY SHEAR TARGET Prospective New p g Exploration Target • Delineated over strike length of 4.5 km (historic) • Drill tested to over 600m strike length (historic) • Followed on surface over an additional 700m north of drilling • Surface Mapping in June 2013 Indicates Barney Shear Zone Consists of Multiple Mineralized Shears over +200m across strike width 28
  • 29. Barney Shear Corridor Land hole collars surveyed, cased, cased capped Core retrieved from all holes Plan to go down previous holes and wedge off 3D modelling proceeding 3500m Drilling Planned in 2014 Volcanic Zone Porphyry Zone 29
  • 30. Barney Shear Zone NB95‐16 Assay Results y From (m) To (m) Interval  (m) 334.06 362.38 28.32 2.94 13.11 including 337.00 357.86 20.86 3.79 17.13 including 337.00 g 348.00 11.00 6.11 28.23 including 337.00 341.00 4.00 12.59 64.63 Total Zone* Au (g/t) Ag (g/t) *Mineralized Zone is missing 0.94m of “display core” taken in 1995 of selected parts of highest grade sections – therefore true grade of zone is likely understated 30
  • 31. HOMER LAKE BASE METAL Key p y points of target g • Newly Discovered Large Untested EM Anomaly • Coincident Magnetic Anomaly • High Grade Surface Showings • High Grade Historical Drill Holes Proximal to EM Anomaly • High Precious Metal Values – >200 g/t Silver, Multi-gram Gold 31
  • 32. Homer Lake Base Metal 32
  • 33. Homer Lake Target – 2014 Drilling (1000m) One t O or two maps from Roman showing geophysics of f R h i h i f targetting. One map from me showing proposed holes 33
  • 34. Other Targets Pinto Shear Zone – 49 g/t Au in grab AES Shear Zone – 13 g/t Au in grab Shear 20 Zone – 21.0m @  2.97 g/t Au in DDH NB94‐01a Shear 20 Zone – 21 0m @ 2 97 g/t Au in DDH NB94 01a Crestaurum Southwest – 4.0m @ 24.26 g/t Au in trench chip sampling Jed Vein/Shear 19 – 1.60m @ 16.85 g/t Au Ryan Lake gold‐molybdenum‐copper‐silver porphyry style  Ryan Lake gold molybdenum copper silver porphyry style mineralization – up to 0.85% Mo, 4.0m @ 7.73 g/t Au in DDH NB96‐24 • Walsh Lake Targets o S Sam Otto Zone ‐ 15 85 @ 2 9 /t A i DDH W89 1 Ott Z 15.85m @ 2.9 g/t Au in DDH W89‐1 o Mispickel Zone – 6.0m @ 7.29 g/t Au  ‐ TerraX 2013 chip sampling • Southern Northbelt – Extension of Lynx, GBK, C‐Zone mines • A Areas not yet explored by TerraX, including known mineralized  l db T X i l di k i li d structures • • • • • • 34
  • 35. Pinto Target No previous drilling has occurred  along this vein along this vein 35
  • 36. AES Target 36
  • 37. Shear 20 Target Future drilling should be focused on the NB94‐1A intersection 37
  • 38. Crestaurum SW Target NW trending structures and Island Lake Shear are virtually untested by drilling.  Part of  NW trending structures and Island Lake Shear are virtually untested by drilling. Part of Island Lake Shear could be extension of Crestaurum Shear.  More prospecting needed. 38
  • 39. JED 39
  • 40. Ryan Lake: Porphyry Style? 0.85% Mo 40
  • 41. Walsh Lake Property Historical Drill Results Showing Drill Hole Length (m) Au (g/t) Burnt Island ? 1.83 6.03 Mos MosA 0.76 9.6 Sam Otto W89-1 15.85 2.59 Sam Otto W89-2 29.96 1.11 Sam Otto W93-1 10.08 3.09 Sam Otto W95-2 4.16 5.17 Sam Otto WLP-00-02 11.5 2.47 Sam Otto North W95-31 2.40 7.00 Sam Otto North W97-6 W97 6 1.84 1 84 8.31 8 31 Sam North W95-12 3.35 6.11 Dave's Pond W95-24 1.00 8.14 Dave's Pond W95-29 4.75 5.61 Dave s Dave's Pond W95 33 W95-33 1.60 1 60 11.81 11 81 Dave's Pond W95-35 0.25 24.46 Dave's Pond W97-2 11.31 0.68 Mispickel Island W95-20 0.75 4.10 p Mispickel NW W97-4 2.50 3.50 41
  • 42. Walsh Lake Property Wide zones of sheared, gossanous material with interbedded pyrite layers 42
  • 43. Moving Forward • Data Compilation and 3D Modeling continues • Community Liaison, Permitting ongoing –– Strong Support for Project • Airborne Magnetic/EM/Radiometric Survey Interpretation Continues • Re‐logging Drill Core Ongoing – Over 20,000 Meters of Drill Cores  Available • Initial Drilling – Winter 2013/14 on Top Priority Targets – 6000m • Field Work of mapping, prospecting and environmental baseline Field Work of mapping, prospecting and environmental baseline  studies to commence in spring 2014 • Airborne Survey planned for Walsh Lake and additional staked Airborne Survey planned for Walsh Lake and additional staked  ground 43
  • 44. Summary • Strong & Experienced Management Team d • Tight share structure with low fixed burn rate • Highly prospective property on trend with two world  class (5moz+) historic gold deposits • Numerous high‐grade showings and drill intercepts • Readily accessible property, close to  infrastructure within a mining city i f t t ithi i i it • Extensive exploration work completed • Drilling planned for winter 2013/14 / • Ongoing news flow with minimal  expenditures dit 44
  • 45. 1 (604) 689‐1749 (Vancouver) 1 (613) 843 8109 (Ottawa) 1 (613) 843‐8109 (Ottawa) E‐Mail: info@terraxminerals.com E Mail: info@terraxminerals com www.terraxminerals.com www terraxminerals com TXR :TSX‐V                TX0 :Frankfurt 45