The Blackfly property consists of five claims totaling 64 claim units (~10.1 km2) located 10 km northwest of the town of Atikokan, 180 km west of Thunder Bay and 17 km from Brett Resources'(TSX.V: BBR) Hammond Reef gold deposit. As does the Hammond Reef deposit, the Blackfly property occurs on the western edge of the Marmion Batholith. The geology and known mineralization on the Blackfly property are similar to the Hammond Reef deposit and the Blackfly deposit appears to be along strike from Hammond Reef.
Geophysical surveys were conducted over five grids distributed on all three of TerraX's Atikokan properties in early 2010, targeting mineralized lineaments identified last field season. Mineralization on these 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 (or chargeability) anomalies will constitute drill targets. Magnetic surveying was also completed on all five grids in order to provide more information about structures and alteration. Chargeability anomalies occur on all four grids on which IP surveying was conducted, and in all cases they are approximately coincident with surface alteration/mineralization.
On Blackfly, two grids were established for IP surveying, including a grid over the Blackfly Zone (where samples taken in 2009 assayed 167 g/t Au and 85.4 g/t Au in quartz veins), and a second grid in the northeast part of the property. The Blackfly Zone IP survey indicated a 300 m long by 200 m wide, northeast-striking, chargeability anomaly that is open at both ends, and is coincident with anomalously high resistivity (possibly indicating silicification). TerraX's drill program has commenced on this target, with an initial three holes planned.
Following drilling on the Blackfly Zone, TerraX will then test the Blackfly northeast anomaly, a 1.6 km long by up to 200 m wide northeast-striking chargeability anomaly. This anomaly is open to the southwest, towards the Blackfly Zone. The chargeability anomaly corresponds to a resistivity high and occurs along an 8 km long airborne magnetic lineament. This lineament contains the Blackfly Zone and an auriferous zone immediately northeast of the Blackfly property. Alteration and anomalous gold values were noted on surface along the length of this anomaly during TerraX's 2009 field program. TerraX will test this portion of the lineament with two drill holes.
For more information on the Blackfly property, as well as the other two properties that TerraX will be drilling 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 Joseph Campbell, P.Geo., 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
Contact: Paradox Public Relations
Phone: 514-341-0408
Toll Free: 1-866-460-0408
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.
Phone: 514-341-0408
Toll Free: 1-866-460-0408
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.
