Business
TerraX commences drilling at Stewart Gold-Copper Property; program to test high chargeability anomalies within large (6 km x 1.4 km) epithermal/porphyry style alteration zone
TSX-V: TXR Frankfurt: TX0 VANCOUVER, Aug. 15, 2011 /CNW/ - TerraX Minerals Inc. (TSX....
About this update from Gold Terra Resource Corp.
[{"type":"text","content":"\n\n\n\n\n\nTSX-V: TXR\n\n\nFrankfurt: TX0\n\n\nVANCOUVER, Aug. 15, 2011 /CNW/ - TerraX Minerals Inc. (TSX.V: TXR)\n (Frankfurt: TX0) has commenced drilling on its wholly-owned Stewart\n gold-copper property in Newfoundland. The property features an\n east-northeast striking, 6 km long by up to 1.4 km wide epithermal to\n porphyry style alteration zone with extensive low grade gold-copper\n mineralization, of which less than 15% has been drill and trench\n tested. The target type for the Stewart property is a mineralized\n system similar to Oyu Tolgoi in Mongolia. Strong IP anomalies were\n identified with a Titan 24 survey over a strike length of 2.5 km, with\n widths up to 800 m and vertical extents in excess of 500 m (see news\n release of May 9, 2011). A geologic model of the anomalies identified\n at Stewart, with a comparison to those at Oyu Tolgoi, is available on\n our web site at www.terraxminerals.com.\n\n\nOne Titan 24 chargeability anomaly intersects the surface in the western\n portion of the surveyed area where shallow drilling and trenching by\n prior operators is coincident with the anomaly. Here the anomaly is\n shallow, restricted to 250 m of dip length (possibly has had a portion\n removed by erosion). A much larger buried zone of mineralization is\n potentially indicated by a significantly thicker and longer strike\n length anomaly of similar amplitude that is concealed by sulphide-poor\n altered rocks as it plunges to the northeast. The maximum width of the\n larger anomaly is 800 m and its vertical extent reaches more than 500\n m, plunging deeper towards the northeast. The defined anomalous\n chargeability is open along strike to the southwest and northeast. A\n minimum drill program of 2,500 m is planned, testing various\n geophysical scenarios along the 2.5 km strike length of known anomalous\n chargeability.  Core will be analyzed for Au, Cu and Mo, amongst other\n elements, and its alteration mineralogy will be systematically assessed\n with a Terraspec instrument.\n\n\nThe Stewart property is comprised of 242 claims totaling 60.5 sq. km,\n located 30 km north-northeast of the town of Marystown on the Burin\n Peninsula. For more information on Stewart and TerraX's other\n properties, please visit our website at www.terraxminerals.com. The technical information contained in this news release has be...