(TSX.V: TXR; Frankfurt: TX0) 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.
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TerraX Minerals Inc.