Quantcast

TerraX resumes soil sampling and line cutting at Stewart Property, Newfoundland along 6 km alteration trend, following up on 725 meter gold in soil anomaly across strike that averaged 160 ppb gold.

February 8, 2011

TSX-V: TXR
Frankfurt: TX0

VANCOUVER, Feb. 8 /PRNewswire/ – TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has resumed fieldwork on its wholly-owned Stewart gold-copper property
in Newfoundland. Soil sampling is currently being carried out on the
property to follow up on a 725 meter wide Au, Cu, Mo anomaly previously
reported by TerraX from a test line of soil surveying across the strike
of the alteration zone. Anomalous gold results within the 725 meter
interval of 30 samples taken 25 meters apart ranged as high as f 640 ppb Au and averaged 160 ppb Au. These results are considered to be extremely encouraging, and
validated the use of soils as an exploration tool at Stewart. The
objective of the current soil sampling is to delineate the full extent
of the gold anomalism within this large hydrothermal alteration system,
and to follow up the newly discovered Forty Creek showing (grab sample
of 59 g/t Au and 2290 g/t Ag – see news release of December 20, 2010).

In addition to the soil survey work, TerraX has contracted Quantec
Geosciences to carry out Titan 24 ground geophysics across 3.5
kilometers of strike length on the alteration zone. This program is
designed to pick up epithermal or more likely porphyry-style
mineralization up to a depth of 600 meters below surface. Line cutting
for the survey will commence the second week of February, and Titan
surveying will follow shortly thereafter. In addition, Geo Data
Solutions Inc. has been contracted to fly an airborne magnetic survey
over the entire property. This survey will be completed in March or
April, allowing sufficient time for interpretation prior to drilling in
mid-summer.

The Stewart property is comprised of 242 claims totaling 60.5 sq. km
located 30 km north-northeast of the town of Marystown on the Burin
Peninsula.  The original property was 173 claims (~43 sq. km), but has
been expanded in order to cover prospective strike extensions to the
alteration zones.  The property features an east-northeast striking 6
km long by up to 700 m wide epithermal to porphyry style alteration
zone with extensive low-grade gold-copper mineralization.

For more information on TerraX’s properties, please visit our 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 in “National 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,
Ontario
, 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 Bay, and are within 19 km of the Hammond Reef gold deposit.

TerraX also recently optioned the ~50.5 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, including the past-producing

Hope Brook deposit, presently being explored by Castillian Resources
Corp.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joseph Campbell, P.Geo
President

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