TSX-V: TXR
Frankfurt: TX0
VANCOUVER, July 26 /PRNewswire-FirstCall/ - TerraX Minerals
Inc. (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 (greater
than)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"
Joseph Campbell, P.Geo
President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE TerraX Minerals Inc.
