08:33 AM EDT, 09/14/2018 (MT Newswires) -- TerraX Minerals (TXR.V) on Friday said grab samples from its Yellowknife Gold Project in the Northwest Territories showed gold values as high as 171 grams of gold per tonne as the company looks to nail down targets for a planned exploration drilling program.

The company said the surface samples are likely an extension of the gold system that was once tapped by the defunct nearby Giant mine. It has not yet said when it will begin more detailed exploration at the site.

"The results of our summer field work continue to feed our pipeline of drill targets,"David Suda, the company's chief executive, said in a statement.

TerraX shares closed Thursday at $0.335 on the TSX Venture Exchange.

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