11:55 AM EDT, 06/27/2017 (MT Newswires) -- TerraX Minerals Inc. (TXR.V) is pleased to announce that a property wide exploration program is now underway on the Yellowknife City Gold project.

As a result of the recently announced 290 square kilometre increase in TerraX's land holdings, the company now controls triple the size of the land position it held in December 2016.

TerraX has just completed a high-resolution airborne Lidar and ortho-photo survey on the property covering approximately 350 square kilometres. In the next few weeks, TerraX will be conducting electromagnetic, magnetic and radiometric geophysical surveys totally approximately 3,200 line kilometres over all areas of the project that have not previously been surveyed. In addition, ground-based magnetic surveys will be conducted in areas of known high-grade gold mineralization to identify drill targets that could expand the zones along strike and at depth.

Field work already underway on the newly acquired Eastbelt property has included comprehensive field mapping and sampling of historic trenches in known areas of gold mineralization, with over 400 samples having already been delivered to the assay lab for analysis in the first 10 days of field work. This work will continue throughout the summer and be complemented by an extensive till and lake sediment sampling program to provide a comprehensive dataset to identify mineralized trends in areas of the property covered by overburden and water.

In addition, TerraX has been awarded a $200,000 Mineral Incentive Program grant by the government of the Northwest Territories.

TerraX's shares were recently down 2% at $0.490 apiece.

Price: 0490, Change: -0.01, Percent Change: -2