TSX.V: TXR; Frankfurt: TX0) has received assay results from an extensive prospecting program undertaken at its Central Canada and Sunbeam-Pettigrew gold properties near Atikokan, Ontario during the late spring of 2010. This prospecting program collected 21 grab samples on the Central Canada property, the highest of which assayed 39.6 g/t Au, and 229 grab samples at Sunbeam-Pettigrew, enabling TerraX to delineate two additional mineralized lineaments in the newly acquired southern part of that property.
TerraX collected 229 new grab samples on the Sunbeam-Pettigrew property, which comprises 35 claims totaling 66 square kilometers (“km”) located within 17 km of Brett Resources’ (TSX-V:BBR) Hammond Reef gold deposit in a similar geological environment. Results ranged from below detection to a high of 4.05 g/t Au from a sample collected along strike from the historic Burger showing. A new showing on the Roy Lineament (which was identified in 2009) yielded an assay of 2.70 g/t Au. Mineralization on the WN2/Pettigrew Lineament, also identified in 2009, was extended 900 metres to the southwest to the edge of the property; the best grab sample was 498 ppb Au. Two newly defined lineaments in the southern part of the property were sampled in some detail. The first outcrops over a strike length of 1.4 km, and 13 of 30 samples contained >20 ppb Au, with a high value of 405 ppb Au. The second is intermittently exposed over a strike length of 3.3 km, and produced a high value of 952 ppb Au. Alteration and anomalous gold (high value of 77 ppb Au) were discovered on a lineament trending southwest from the Rubble showing, where sampling by the Ontario Geological Survey has returned up to 48.6 g/t Au; this lineament was followed for 1.4 km. Alteration and local anomalous gold was noted on several other newly prospected lineaments in the extreme southwest of the property, which TerraX acquired by staking in January, 2010. Maps showing the location of these target areas at Sunbeam-Pettigrew are available on our web site at www.terraxminerals.com.
At the nearby Central Canada property, located 3 km south of Sunbeam-Pettigrew, TerraX collected 21 new grab samples. Results ranged from below detection to a high of 39.6 g/t Au on a sample collected near the circa 1900 shaft that occurs on the property. Importantly, two samples of approximately 1 g/t Au (907 and 1070 ppb) were taken from a new showing 500 metres northeast of the shaft. This showing consists of a northeast trending sericite carbonate shear with disseminated to semi-massive pyrite and arsenopyrite.
Terrax is continuing surface work at Sunbeam-Pettigrew and Central Canada in preparation for a phase two drill program to be conducted on both these properties, as well as the nearby Blackfly gold property, in the fall of 2010.
Samples were delivered by TerraX personnel to the Activation Laboratories (“Actlabs”) facility in Thunder Bay. Actlabs is an ISO/IEC 17025 accredited analytical laboratory. Analysis was by fire assay with AA finish. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards.
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 Brett Resources’ (TSX-V: BBR) 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 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.
On behalf of the Board of Directors
Joseph Campbell, P.Geo
TerraX Minerals Inc. (