TerraX recently conducted an initial visit to the Stewart property, which contains a 4 km long by up to 700 m wide advanced argillic alteration zone with extensive low-grade gold-copper mineralization (historic drill intersections of 102 m @ 135 ppb Au and 385 ppm Cu, and 63 m @ 0.25 g/t Au, trench intersections of 219 m @ 92 ppb Au and 193 ppm Cu and 12 m @ 555 ppb Au and 826 ppm Cu). Known alteration and mineralization is associated with lineaments visible on satellite imagery. During this initial visit, TerraX was encouraged by the style and extent of alteration visible on surface, and TerraX has also identified several lineaments that do not appear to have previously been prospected. The current three week field program will focus on mapping and sampling the known hydrothermal system and on prospecting the entire property. Complementary geochemical surveys will also be performed.
It has been recognized that the Stewart property's sheeted and stockwork quartz veins, and its widespread advanced argillic alteration with low grade Au and Cu values, are similar to other large porphyry systems where advanced argillic alteration closely overlies porphyry mineralization, such as at Oyu Tolgoi in Mongolia (1.39 Bt at 0.93% Cu and 0.37% Au). Exploration below the advanced argillic zone in search of this style and size of deposit will be a primary target for TerraX on the Stewart Property.
For more information on TerraX's properties, 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 Osisko Mining Corporation's (TSX:OSK) 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 on this deposit 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. In addition, TerraX recently optioned the ~43 sq km Stewart gold-copper property in the Burin Peninsula of Newfoundland, which is part of the Avalon terrane, a geologic structure which can be traced from eastern Newfoundland through Nova Scotia and New Brunswick into New England, the Carolinas and northern Georgia. The Avalon terrane hosts several epithermal/porphyry gold-copper deposits.
On behalf of the Board of Directors
Joseph Campbell, P.Geo
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.