Fluff PR issued this morning to placate the exchange about the recent trading volumes and price movement.... no new data in it....
Terex Resources Inc.: Drilling Update On Wawa Mishibishu Greenstone Gold Belt
TORONTO, ONTARIO, Sep 14, 2006 (MARKET WIRE via COMTEX News Network) --
Terex Resources Inc. (TSX VENTURE: TRR) announces that the initial phase of a planned 5,000 metre drilling program commenced in late August on the Company's three contiguous Mishibishu properties located about 50 km west of Wawa, Ontario and about 80 km southeast of the Hemlo gold camp.
The initial drilling campaign is focusing on testing the down plunge, on strike potential of the Dorset Zone (MetalCORP option MTC-TSXV) that returned intercepts grading up to 3.74 g/t Au over 22 metres. To date 14 drill holes have been completed totaling approximately 2200 metres. Every drill hole, with the exception of one which intersected a diabase dike, has intersected the mineralized Dorset Deformatiom Zone and assays results are expected within the next few weeks. The drilling program will continue on the Martin Zone within the next week or so. The purpose of the drilling program is to outline a potential open pit resource on the properties compliant with NI 43-101.
A detailed structural study carried out on the property for Battle Mountain Canada Ltd. concluded that "the Dorset Zone is a primary, hydrothermal, stratiform, gold system with a minimum strike length of 1 kilometre which exhibits potential for significant areal extent" (Chris Beaumont - Smith, 1998). Recent airborne geophysical work suggests the Dorset Zone may have a potential strike length of about 6 kilometres.
The drilling program will also test the Mishibishu Property (Murgor option MUG-TSXV) that contains more than 30 known gold occurrences, the most important of which is the Martin Zone. The geology of the Martin Zone consists of pyrite and arsenopyrite mineralization in deformed, altered and quartz veined mafic metavolcanics. This zone has been traced for over a kilometre along strike in drill holes and trenches where assay results of 5.5 g/t Au over 5 metres were obtained from previous drilling. Ground and airborne geophysical surveys suggest that the zone may continue for more than 3 kilometres along strike. The Martin Zone appears to be similar in style and orientation to the Dorset Zone which is located about 400 metres to the north.
The mineralization in the Dorset and Martin zones appear to be similar to the Holloway and the Holt-McDermott deposits found in the Harker-Holloway area east of Timmins, Ontario.
Terex is the largest mineral claim holder in the entire camp with about 19,000 acres under control. This is the largest land package assembled in this area since the Hemlo rush in the 1980's. The consolidated property contains over 48 known gold occurrences attesting to the potential of the Mishibishu greenstone belt.
Terex is fully financed to complete the drilling program and management is very excited about drill testing the potential of Terex's extensive land holdings in the Hemlo area of northern Ontario. Please refer to www.terexresources.com for cross sections, longitudinal sections and past drill hole plans.
The Company also advises that Wayne J. O'Connor has been elected President and CEO of the Company and further advises that Don Hawke has resigned as a director of the Company. The Board of Directors wishes to thank Mr. Hawke for his past services to the Company. This release has been reviewed and approved by George Cole, professional geologist, director and interim QP of the Company.
Shares issued: 53,411,908
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contacts: Terex Resources Inc. Wayne J. O'Connor President and CEO (416) 364-6957 (416) 364-5400 (FAX) wayne@terexresources.com www.terexresources.com
SOURCE: Terex Resources Inc.
mailto:wayne@terexresources.com terexresources.com
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