TerraX completes first drill hole at Stewart Gold-Copper Property; intersects extensive porphyry style alteration zone with significant sulphide.

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[{"type":"text","content":"\n\n\n\n\n\nTSX-V: TXR\nFrankfurt: TX0\n\n\nVANCOUVER, Aug. 25, 2011 /CNW/ - TerraX Minerals Inc. (TSX.V: TXR) (Frankfurt: TX0) has completed the first hole of the current drill program on its\n wholly-owned Stewart gold-copper property in Newfoundland. This drill\n hole intersected an extensive porphyry style alteration zone with\n significant sulphide over 433 metres (m).  Drilling is continuing on\n the Stewart property as part of an anticipated 2,500 m drill program\n (see news release of August 15, 2011). The drill core from the first\n drill hole is being split and will be submitted to Activation\n Laboratories (\"Actlabs) in Fredericton for assay.\n\n\nThe Stewart property features an east-northeast striking, 6 km long by\n up to 1.4 km wide epithermal to porphyry style alteration zone with\n extensive low grade gold-copper mineralization, of which less than 15%\n has been drill and trench tested. The target type for the Stewart\n property is a mineralized system similar to Oyu Tolgoi in Mongolia.\n Strong IP anomalies were identified with a Titan 24 survey over a\n strike length of 2.5 km, with widths up to 800 m and vertical extents\n in excess of 500 m (see news release of May 9, 2011). A geologic model\n of the anomalies identified at Stewart, with a comparison to those at\n Oyu Tolgoi, is available on our web site at www.terraxminerals.com.\n\n\nThis first hole was drilled in a southeast direction along a Titan 24\n section line which contains a 250 m wide by 300 m deep chargeability\n anomaly that intersects the surface.  This anomaly is semi-coincident\n with the Vinjer trench, which contains extensive hydrothermal\n alteration and anomalous metals.  The hole was 440 m long, of which the\n upper 433 m consistently contains between 1 and 5% pyrite.  This\n interval is also strongly altered; mineralogical analysis with a\n Terraspec instrument confirmed that the interval is dominated by\n varying amounts of pyrophyllite and illite, both of which are common in\n porphyry to epithermal environments.  Stockwork quartz veins,\n chalcopyrite and molybdenite all occur locally within the hole.  The\n upper 185 m of the hole contains strongly altered quartz diorite,\n tentatively interpreted as the mineralizing intrusion for the extensive\n hydrothermal system.  The lower 7 m of the hole co...

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