TerraX's Yellowknife City gold project gets new water license

The Mackenzie Valley Land and Water Board issued a Type B water license approving TerraX Minerals' (TSXV: TXR) broad exploration plan for its Yellowknife City gold project, located in Canada's Northwest Territories.

According to TerraX, the Water License, which is effective for seven years until March 6, 2026, enhances the new Land Use Permit that the company obtained last February. The permit covers all of TerraX's claims and leases on the entire 70-kilometer length of the project.

Yellowknife City Gold project. Photo by TerraX.

To be able to get the license approved, the Vancouver-based miner had to get the support of the City of Yellowknife, CanNor, the Department of Fisheries and Oceans, and the Government of the Northwest Territories Department of Industry Tourism and Investment.

"Receiving the Type B water license significantly enhances exploration and development potential at the YCG project," the company's president and CEO David Suda said in a media statement.

The Yellowknife City Gold project's land package occupies terrains immediately north, south and east of the town of the same name. It lies on the prolific Yellowknife greenstone belt, covering 70 kilometers of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines.