Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (6239)	3/31/2005 3:44:29 PM
From: stan_hughes	Read Replies (1) \| Respond to of 8273

GEOPHYSICAL SURVEY TO COMMENCE ON MASSEY IOCG PROJECT 3/31/05 Toronto, ON March 31, 2005 FSC / Press Release GEOPHYSICAL SURVEY TO COMMENCE ON MASSEY IOCG PROJECT Toronto, Ontario CANADA, March 31, 2005 /FSC/ - Terex Resources Inc. (TSX - VX: TRR) The Company reports that the downhole and surface Induced Polarization ("IP") and ground Gravity surveys will start next week on the Massey property. These geophysical surveys were scheduled to start during the first week of March and be completed by the end of March. The delay was due to a backlog of work by the geophysical contractor. The geophysical firm contracted by the Company is the only contractor who conducts downhole IP surveys which is a new and sophisticated geophysical technology. Downhole IP when combined with surface IP will give the Company a 3 dimensional view of the Massey ore zone. The results will be reported on completion of the survey. In late 2004, the Company carried out a 1003 metre drill program on their Massey property located about 80 km west of Sudbury, Ontario. The 100% owned property was acquired because management recognized that this property had many characteristics in common with world class giant ore deposits termed iron-oxide-copper-gold deposits (IOCG). One of the largest known deposits of this type is the Olympic Dam Deposit in Australia that contains 2.0 billion tonnes grading 1.6 % Cu, 0.6 g/t Au and 0.06% U3O8 (uranium oxide). Mineralization on the Massey property is hosted by the Massey Breccia Complex (MBC) that is exposed along the Murray fault for a distance of about 1.6 km. Total dimensions of the MBC are unknown as the east, west and southern contacts are not exposed. The MBC consists of brecciated Proterozoic Huronian sediments that have been variably hematized, sericitized, silicified, chloritized and albitized. In places it contains disseminated and semi massive chalcopyrite, pyrite, bornite and chalcocite mineralization sometimes associated with late structures exhibiting both brittle and ductile deformation. The Massey mineralized zone is open in both directions along strike and at depth. A five hole drilling program was completed to test the mineralized zone at several locations along a strike length of approximately 1.35 kilometres. High grade copper values up to 15.53% Cu were intersected (see press release dated February 16, 2005). The program was designed to obtain fresh samples to carry out geochemical and petrographic analyses due to the poor and incomplete condition of the previous records that existed for the property and to confirm the IOCG potential of the project. A petrographic examination was carried out by Min Scan Consultants on selected core samples. Sulphide ore mineral assemblages were identified as consisting of pyrite, chalcopyrite, bornite, chalcocite, digenite, and the oxide cuprite. These mineral associations together with the alteration assemblages of silica, hematite, chlorite and sericite are very similar to the unique mineralogy identified at the Olympic Dam Deposit. A number of samples were analyzed for a multi element lithogeochemical package at Actlabs of Ancaster, Ontario an ISO 17025 and CAN-P-1579 qualified laboratory. The results of this work reveal that the mineralized rocks at the Massey property are anomalous in copper, gold, cobalt, barium, cerium, lanthanum and uranium. In addition surface samples from showings located along the northern fringes of the Massey Breccia Complex assayed up to 0.04 % U3O8. This elemental association is further evidence supporting the linkage of the IOCG style of mineralization (model) with that of the Massey property. Management is very encouraged by the results of the drilling program and the petrographic and geochemical studies that highlight the numerous similarities of the Massey deposit to world class IOCG deposits. The Massey exploration program was supervised by Donald Hawke, P.Geo, President of Terex Resources Inc. and Qualified Person for this project. Mr. Hawke has reviewed and approved the contents of this release. The Company also announces that it has granted to a consultant 50,000 stock options under its Stock Option Plan. The stock options will be exercisable for a period of five years, at a price of $0.105 per share, subject to regulatory approval. For further information contact:Don Hawke, President705-385-0465 orWayne J. O'Connor, Chairman416-364-6957 Shares Issued: 37,724,622 The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. 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. TEREX RESOURCES INC.120 Adelaide St. W, Suite 512, Toronto, Ont. M5H 1T1Tel: 416-364-6957 Fax: 416-364-5400 Email: hawke@vianet.ca Maximum News Dissemination by Filing Services Canada Inc.Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com © 2005 Stockgroup Media Inc. \| Disclaimer