TSX-V: TXR Frankfurt: TX0
VANCOUVER, June 28 /PRNewswire-FirstCall/ - TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has completed core drilling at its wholly-owned Sunbeam-Pettigrew gold project near Atikokan, Ontario, where mineralization was identified over a strike length of nine kilometres during the 2009 field program and grab samples returned assays up to 16.2 g/t Au. The initial Sunbeam-Pettigrew drill program comprised five holes testing near-surface Induced Polarization ("IP") chargeability anomalies on the Pettigrew Northeast target.
Drilling at Pettigrew Northeast focused on an 1,100 m long by 100-200 m wide northeast striking IP anomaly from which grab samples returned up to 10.2 g/t Au during 2009 field work. A total of 661 meters was drilled on this target; combined with the 963 meters of drilling on TerraX's Blackfly property, a total of 1624 meters of drilling was completed in this first phase drill program on TerraX's Atikokan area properties. All logging and sampling has been completed and TerraX is awaiting assay results.
In addition to the drilling program, prospecting programs were carried out over additional claims acquired to the Northeast and Southwest on the Sunbeam-Pettigrew property (as announced November 12, 2009 and April 13, 2010). Alteration/mineralization was discovered on extensions to the mineralized lineaments defined in the 2009 work and on newly interpreted lineaments. Extensions to the lineaments were discovered on the additional claim blocks both to the northeast and to the southwest of previously known mineralization.
A prospecting program was also carried out on the Central Canada property, where TerraX sampled 22.9 g/t Au during field work in 2009. The Central Canada property is approximately 3 km south of TerraX's Sunbeam-Pettigrew property. Extensive zones of shearing and carbonate-chlorite-sericite alteration with quartz veining were noted across the property. Once assay results from sampling are returned, TerraX plans to carry out channel sampling on some of the better exposed areas. This work should result in additional targets for the next phase of drilling on TerraX's properties, scheduled for the fall of 2010.
For more information on the three properties that TerraX is exploring in the Atikokan area this field season, 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 Brett Resources' (TSX-V: BBR) Hammond Reef gold deposit. 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.