TerraX begins initial fieldwork on Stewart gold-copper property in Newfoundland

October 4, 2010

Frankfurt: TX0 

VANCOUVER, Oct 4 /PRNewswire-FirstCall/ – TerraX Minerals Inc. (TSX.V: TXR; Frankfurt:
has begun fieldwork on its wholly-owned Stewart gold-copper
property in Newfoundland.  The objective of fieldwork is to delineate
the full extent of the large hydrothermal alteration/mineralization
system known to be present on the property and to prospect the entire
property.  The Stewart property is comprised of 173 claims located 30 km
north-northeast of the town of Marystown on the Burin Peninsula.

TerraX recently conducted an initial visit to the Stewart property,
which contains a 4 km long by up to 700 m wide advanced argillic
alteration zone with extensive low-grade gold-copper mineralization
(historic drill intersections of 102 m @ 135 ppb Au and 385
ppm Cu,
and 63 m @ 0.25 g/t Au, trench intersections of 219
m @ 92 ppb Au and 193 ppm Cu
and 12 m @ 555 ppb Au and 826 ppm Cu). 
Known alteration and mineralization is associated with lineaments
visible on satellite imagery. During this initial visit, TerraX was
encouraged by the style and extent of alteration visible on surface, and
TerraX has also identified several lineaments that do not appear to have
previously been prospected.  The current three week field program will
focus on mapping and sampling the known hydrothermal system and on
prospecting the entire property.  Complementary geochemical surveys will
also be performed.

It has been recognized that the Stewart property’s sheeted and stockwork
quartz veins, and its widespread advanced argillic alteration with low
grade Au and Cu values, are similar to other large porphyry systems
where advanced argillic alteration closely overlies porphyry
mineralization, such as at Oyu Tolgoi in Mongolia (1.39 Bt at 0.93%
Cu and 0.37% Au)
. Exploration below the advanced argillic zone in
search of this style and size of deposit will be a primary target for
TerraX on the Stewart Property.

For more information on TerraX’s properties, please visit the company’s
website at www.terraxminerals.com

The technical information contained in this news release has been
verified by Dr. Tom Setterfield, P.Geo., who is a Qualified Person as
defined inNational Instrument 43-101, Standards of
Disclosure for Mineral Properties.

About TerraX Minerals

TerraX Minerals Inc. is one of the major landholders of prospective
ground in the burgeoning Marmion Batholith gold district near Atikokan,
, host to Osisko Mining Corporation’s (TSX:OSK) Hammond Reef gold
deposit which contains a National Instrument 43-101-compliant inferred
resource of 259.4 million tonnes at 0.8 grams per tonne Au
(approximately 6.7 million ounces of gold).  The Brett Resources
Technical Report on this deposit is available on SEDAR.  TerraX is
actively exploring three wholly-owned gold exploration projects, the
Sunbeam-Pettigrew, Blackfly and Central Canada properties, all of which
are located within 20 km of the town of Atikokan, 180 km west of Thunder
, and are within 19 km of the Hammond Reef gold deposit.  In
addition, TerraX recently optioned the ~43 sq km Stewart gold-copper
property in the Burin Peninsula of Newfoundland, which is part of the
Avalon terrane, a geologic structure which can be traced from eastern
Newfoundland through Nova Scotia and New Brunswick into New England, the
Carolinas and northern Georgia. The Avalon terrane hosts several
epithermal/porphyry gold-copper deposits. 

On behalf of the Board of Directors

“JOSEPH CAMPBELL” Joseph Campbell, P.Geo

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

SOURCE TerraX Minerals Inc.

Source: newswire

comments powered by Disqus