VANCOUVER, June 7 /CNW/ - TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has commenced core drilling at its wholly-owned Sunbeam-Pettigrew gold project near Atikokan, Ontario, where mineralization was identified over a strike length of nine kilometres during the 2009 field program and grab samples returned assays up to 16.2 g/t Au. The initial drill program will be comprised of short holes testing the near-surface chargeability anomalies. Drilling is planned for all three TerraX properties in the Atikokan area during the current exploration season, with the first drill program having now been successfully completed at Blackfly, where samples taken in 2009 assayed 167 g/t Au and 85.4 g/t Au in quartz veins. Two separate target areas at Blackfly were tested by six drill holes for a total of 960 meters of drilling. Assay results are pending.
Geophysical surveys were conducted over five grids distributed on all three of TerraX's Atikokan properties in early 2010, targeting mineralized lineaments identified last field season. Mineralization on these properties occurs in quartz veins and altered granite. In both cases, gold content appears to be roughly proportional to the amount of pyrite in the rock. Induced Polarization ("IP") surveying is the best method to detect disseminated pyrite, thus IP (or chargeability) anomalies will constitute drill targets.
On the Sunbeam-Pettigrew property, two grids were established for IP surveying, one each on the Sunbeam and Pettigrew lineaments. On the Sunbeam lineament, a 1.6 km strike length returned 16.2 g/t Au during sampling in 2009. On the Pettigrew lineament, where grab samples returned up to 10.2 g/t Au during field-work in 2009, the IP survey indicated a 1,100 m long by 100-200 m wide, northeast-striking, chargeability anomaly that is open at both ends and is coincident with anomalously high resistivity. TerraX has commenced drilling on this target area, with five holes planned for the current program.
As the Sunbeam-Pettigrew drill program is being carried out, TerraX field crews have been actively prospecting for extensions to known mineralized zones and for new mineralization along the projected lineaments. It is anticipated that this work will generate more target areas for future drilling.
For more information on the Sunbeam-Pettigrew property, as well as the other two properties that TerraX will be drilling in the Atikokan area this field season, please visit the company's website at www.terraxminerals.com.
The technical information contained in this news release has been verified by Joseph Campbell, P.Geo., who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties." The historic information provided has not been verified by TerraX and is for reference only.
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 which is host to Brett Resources' (TSX-V: BBR) Hammond Reef gold deposit. 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 within 19 km of the Hammond Reef gold deposit.
On behalf of the Board of Directors
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.
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