News Releases
Geophysics was conducted over mineralized lineaments identified during field work undertaken by TerraX during the fall of 2009. As at Hammond Reef, mineralization on TerraX's properties occurs in quartz veins and altered granite. In both cases, gold content appears to be roughly proportional to the amount of pyrite in the rock. Induced Polarization ("IP") surveying is the best method to detect disseminated pyrite, thus IP anomalies will constitute drill targets. Magnetic surveying was also completed, in order to provide more information about structures and alteration.
On the Blackfly property, TerraX conducted detailed IP surveying (50 to 100 m line spacing) over a 500 m strike length containing the Blackfly Zone, where grab samples assayed up to 167 g/t gold during 2009, and reconnaissance IP (150 m line spacing) over a 1.8 km strike length of the main lineament in the northeast part of the property. Ground magnetics were conducted on both grids. The lineament in the northeast part of the property is the southwest extension to a gold-bearing zone recently drilled by Sparton Resources Inc. (TSX-V: SRI).
On the Sunbeam-Pettigrew property, TerraX surveyed a two km strike length of the Pettigrew lineament with reconnaissance IP and magnetics, including a zone where grab samples returned up to 10.2 g/t Au during field-work in 2009. A 1.6 km strike length of the Sunbeam lineament, including the AL198 Zone which returned 16.2 g/t Au during sampling in 2009, was surveyed with magnetics only, as the geophysical survey was cut short due to an unusually early spring break-up.
On the Central Canada property, reconnaissance IP and magnetic surveying covered the main mineralized zone, which returned grab sample values up to 22.9 g/t Au in 2009.
In total, 54.15 line km of magnetic surveying and 32.5 line km of IP surveying were completed on five grids on the three properties. TerraX has not yet received all the geophysical data, and is processing the data as it arrives. The results of the IP, including maps, will be released after all data has been processed. Preparations are underway for a drill program to test IP chargeability anomalies later this spring.
TerraX recently added an additional forty-seven claim units in five claims (approximately 7.5 sq km) to the southern portion of the Sunbeam-Pettigrew property. The claims were staked to cover the southwest extension of the 2.8 km long Burger Lineament - an additional three km of strike length has now been acquired. The lineament contains the Burger Zone, a mineralized zone at least 400 m long, where 28 of 34 samples collected by TerraX in 2009 were anomalous in Au (>20 ppb), including previously reported samples of 15.6 g/t, 6.14 g/t and 4.79 g/t Au. This land acquisition further strengthens TerraX's position as one of the major landholders of prospective ground in the burgeoning Marmion Batholith gold district. For more information on these properties, including updated graphics and property maps, please visit our web site at www.terraxminerals.com.
The technical information contained in this news release has been verified by Dr. Tom Setterfield, P.Geo., Vice President Exploration, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
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.
