At the recent Vancouver Resource Investment Conference in Vancouver, CEO.ca caught up with Joseph Campbell CEO of TerraX Minerals (TXR.V).
Terrax is exploring the northern extension of the historic Giant mine in Yellowknife. Management have been able to attract Andrew Gaumond’s Virginia Mines as a major shareholder (9.2%), along with Haywood Securities chairman John Tognetti.
A 5000m drill program commenced on January 22nd at the Yellowknife City gold project.
The project is high grade and according to the company is “the last undeveloped high grade gold camp in Canada”.
Joseph Campbell, CEO, TerraX Minerals, Cambridge House transcript:
The risk that we face at this project is the same as the rest of the industry. We need funding to carry out our exploration programs. It is very difficult these days to carry that forward.
Other parts of the project for us are great. We have wonderful geology and we have great infrastructure so we are ready to explore quite cheaply.
The challenge that we have with funding will be met by aggressive exploration.
We are starting the drills up as of today. We are drilling on known targets with high grade zones.
We believe those will allow us to get future funding in the next few months based on the results of that drilling.
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