TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has completed the first hole of the current drill program on its wholly-owned Stewart gold-copper property in Newfoundland. This drill hole intersected an extensive porphyry style alteration zone with significant sulphide over 433 metres (m). Drilling is continuing on the Stewart property as part of an anticipated 2,500 m drill program (see news release of August 15, 2011). The drill core from the first drill hole is being split and will be submitted to Activation Laboratories (“Actlabs) in Fredericton for assay.
The Stewart property features an east-northeast striking, 6 km long by up to 1.4 km wide epithermal to porphyry style alteration zone with extensive low grade gold-copper mineralization, of which less than 15% has been drill and trench tested. The target type for the Stewart property is a mineralized system similar to Oyu Tolgoi in Mongolia. Strong IP anomalies were identified with a Titan 24 survey over a strike length of 2.5 km, with widths up to 800 m and vertical extents in excess of 500 m (see news release of May 9, 2011). A geologic model of the anomalies identified at Stewart, with a comparison to those at Oyu Tolgoi, is available on our web site at