The Sunbeam-Pettigrew property consists of 27 claims totalling 350 claim units (~55 km2), 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 km2), 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. Based on due diligence sampling by TerraX conducted in May 2009, both properties appear to have the potential to host large low grade deposits similar to Hammond Reef, and possibly smaller high grade deposits. Sampling by TerraX returned assays up to 167 g/t Au on the Blackfly property and 3.83 g/t Au on the Sunbeam-Pettigrew property (see June 1 and July 8, 2009 news releases).
Prior to commencing fieldwork, TerraX received the recently released government airborne magnetic survey. The survey is part of the Ontario Geological Survey’s Atikokan Mineral Development Initiative, and is specifically designed to cover the promising Marmion Batholith that contains the Hammond Reef deposit. The geophysical signatures of the Hammond Reef deposit and of mineralization within the northeast-trending Sunbeam-Atiko and Pettigrew-Jack Lake shear zones on the Sunbeam-Pettigrew property was used to produce a template of the desired geophysical response. From this, more than 20 new geophysical targets were identified on the Sunbeam-Pettigrew property and five on the Blackfly property. Targets are defined by intersections of structural trends which appear to exert a control on known mineralization, and by magnetic features which may reflect hydrothermal alteration.
Immediate work will consist of prospecting, mapping and sampling of the numerous targets currently identified. It is anticipated that the present list of targets will be expanded during current fieldwork. In addition, there are numerous gold showings and small mine workings from the early 1900s that have had little or no exploration in over a century. At least 15 of these occurrences have not yet been visited by TerraX. The Company intends to investigate and systematically sample all known showings during its current exploration program in preparation for drilling to be conducted in early 2010. No exploration has been undertaken on either property for a low grade, Hammond Reef type deposit, so extensive rock sampling will be an integral part of the current program.
The work program at the Sunbeam-Pettigrew and Blackfly properties is being supervised by Tom Setterfield, PhD, P.Geo., and Joseph Campbell, P.Geo., who are qualified persons under the definition of National Instrument 43-101. The technical information contained in this news release has been verified by Dr. Setterfield, 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
TerraX Minerals Inc. has begun field exploration on its recently acquired Sunbeam-Pettigrew and Blackfly gold properties in Northwest Ontario.