TerraX Minerals Inc. (TSXV:TXR) announced that it will purchase the Northbelt leases in the Yellowknife area of the Northwest Territories.
As quoted in the press release:
The property consists of 121 leases totalling 8802 acres (3562 hectares) which cover approximately 13 kilometres of strike along the prolific Yellowknife Belt, 15 km north of the city of Yellowknife.TerraX is purchasing an unencumbered 100% ownership of the Property with low annual maintenance fees. Our due diligence included review of historic information obtained from Giant Yellowknife Mines and currently filed at the NWT Geoscience Office in Yellowknife. TerraX’s due diligence studies revealed an abundance of information confirming that the Property is underlain by highly prospective geology with substantial potential for discoveries of economic deposits.