On the Blackfly property, detailed mapping and sampling will be focused on the Blackfly Target, where a four hole shallow drill program earlier this year returned intersections of 1.07 m @ 15.1 g/t Au in the Blackfly Vein, which is open down dip and along strike, and 8.26 m @ 0.94 g/t Au in nearby silicified tonalite with minor pyrite and chalcopyrite.
Mapping and sampling will also be conducted on the Blackfly Northeast Target, where only two holes were drilled and an intersection of 1.47 m @ 2.70 g/t Au was obtained near the end of one hole in an altered quartz diorite that had not previously been noted on the property. The current TerraX field program will focus on identifying this intrusion on surface.
TerraX has so far tested only the upper parts of a gold-bearing hydrothermal system, and it is encouraged by the extent of the alteration zones and the associated gold mineralization. It is considered significant that the small drill program on the Blackfly Target encountered both high grade gold associated with major quartz veins and several intersections of low grade material (the average grade of the nearby Hammond Reef deposit is 0.8 g/t Au) associated with alteration and narrow veins. The Blackfly Vein has been tested only in the upper ten vertical meters; it is open down-dip and along strike. Brett Resources’ experience in similar alteration systems is that the width and continuity of the ore improve with depth. In the Hammond Reef A Deposit, many of the shallow drill holes encountered grades of 0.30-0.50 g/t Au overlying much wider and higher grade mineralization. It is also significant that TerraX has only tested a 100 m strike length of the Blackfly Target and a 150 m strike length of the Blackfly Northeast Target, both of which occur on the 4.4 kilometer Blackfly lineament. The remainder of the strike length of this lineament has never been drill tested.
On the Sunbeam-Pettigrew property in the central part of the Marmion Batholith, mapping and sampling will be performed over four target areas: i) the AL198 Zone, which is exposed for 215 m, and where TerraX’s 2009 sampling produced a high value of 16.2 g/t Au; ii) the Road Zone, where a 1981 drill hole intersected 8.5 m @ 4.8 g/t Au and where TerraX’s samples returned up to 2.6 g/t Au; iii) the Roy occurrence, which has four historical shafts, and where TerraX obtained up to 3.83 g/t Au from waste piles, and iv) the Burger Zone, which TerraX delineated over a 400 m strike length and obtained grab sample results up to 15.6 g/t Au in 2009. All four of these areas represent strong potential drill targets for drilling later this fall.
TerraX also plans to conduct channel sampling on the Central Canada property on the southern margin of the Marmion Batholith, where mapping earlier this year led to a better understanding of the main zone, and sampling returned up to 39.6 g/t Au.
For more information on TerraX’s properties, please visit the company’s 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 recently optioned the ~43 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.
On behalf of the Board of Directors
Joseph Campbell, P.Geo