TSX-V Symbol: TXR
VANCOUVER, Nov. 12 /CNW/ - TerraX Minerals Inc. has received assay results from 659 samples collected during a three week September field exploration program on its Sunbeam-Pettigrew and Blackfly gold properties in Northwest Ontario. This information is being evaluated and will be discussed in detail in subsequent news releases. Based on initial results, TerraX has staked an additional 18 claim units on the eastern margin of the Sunbeam property to protect a 600 meter strike length of mineralized lineament where sampling returned assays up to 714 ppb (0.714 g/t) Au. In addition, a second work program was completed at Blackfly to extend the known mineralization zones.
The Sunbeam-Pettigrew property consists of 27 claims totalling 350 claim units (~55 km(2)), and is situated 15 km from Brett Resources' (TSX-V: BBR) Hammond Reef property, which contains a National Instrument 43-101 compliant resource of 155 Mt @ 1.04 g/t Au (approximately 5.2 Moz Au). The Blackfly property consists of five claims totalling 64 claim units (~10.1 km(2)), is 17 km southwest of Hammond Reef and appears to be along its strike trend. Both properties occur in the Archean Marmion Batholith, which contains a number of phases, varying from tonalite to quartz diorite. The geology and known mineralization on the properties are similar to the Hammond Reef property.
Four northeast-striking, mineralized lineaments have been identified to date on the Sunbeam property; intermittent alteration and mineralization over strike lengths of up to 9 km were noted in the field program. Five new showings with assays greater than 3 g/t Au were found during the exploration program - grab samples from these showings returned values from 3.3 to 10.4 g/t Au. In addition, historical zones were sampled in detail and their known extents were expanded. The highest assay from the Sunbeam property sampling was 16.2 g/t Au. TerraX has staked 18 additional claim units (~2.9 km(2)) on the eastern margin of the Sunbeam property to protect a 600 m strike length of mineralized lineament where sampling on previously open ground returned up to 0.714 g/t Au.
On the Blackfly property, sampling was concentrated in and around the northeast-trending, historical Blackfly Zone, where assays up to 167 g/t Au were obtained during TerraX's due diligence sampling in early 2009 (see July 8, 2009 TerraX news release). Sampling along the exposed 300 m strike length of this zone in September returned assays up to 85.6 g/t Au, with 11 samples in excess of 1 g/t Au. Sampling of a parallel structure 70 m northwest of the Blackfly Zone produced assays up to 1.10 g/t Au. Two additional zones of anomalous mineralization (assays up to 383 ppb Au) were discovered during limited examination of the remainder of the property. As a result, TerraX undertook a second field program on the Blackfly property in late October to extend the known mineralization and explore for new alteration/mineralization zones.
Mineralization discovered on the properties typically consists of quartz or quartz-iron carbonate veins with pyrite, surrounded by zones of granite (or mafic dikes) with strong iron carbonate alteration and 1 to 10% pyrite. While the highest gold grades are commonly associated with quartz veins, numerous samples of granite-only samples with potentially economic grades (up to 10.2 g/t Au, many in excess of 1 g/t Au) were collected in the September field program. This is important because altered and mineralized granite is much more areally extensive than mineralized quartz veins.
The technical information contained in this news release has been verified by Dr. Tom Setterfield, P.Geo., Vice President Exploration, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
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.
For further information: For further information: Stuart Rogers, (604) 689-1749