GEOCHEMICAL PETROGRAPHIC STUDY CONFIRMS IOCG MODEL
3/4/05
Toronto, ON March 04, 2005
FSC / Press Release
GEOCHEMICAL PETROGRAPHIC STUDY CONFIRMS IOCG MODEL
Toronto, Ontario CANADA, March 04, 2005 /FSC/ - Zenda Capital Corp. (TSX - VX: ZND),
In late 2004, Zenda Capital Corp. 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 Zenda 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.
The Company has contracted a geophysical company, JVX Ltd., to conduct a program of down hole and surface Induced Polarization Surveying including 3D imaging plus a ground Gravity Survey. Both of these geophysical surveys will be completed this month. The results will help identify drill targets for a comprehensive drilling program to explore the potential of this exciting project this spring.
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.
Other Business
In reference to the press release dated February 18, 2005 regarding the $350,000 financing it was stated that the warrants were exercisable for a period of 24 months. The warrants are actually exercisable for a period of 18 months.
Pursuant to a special resolution passed by shareholders November 8, 2004 the Company has changed its name to Terex Resources Inc. Effective at the opening on Monday, March 7, 2005 the common shares of Terex Resources Inc. will commence trading on the TSX Venture Exchange under the trading symbol TRR.
Management of the Company cordially invites all shareholders and interested investors, analysts and stockbrokers to attend the PDAC Convention March 6-9, 2005 at the Toronto Trade and Convention Center. Terex will have an exhibit and core display at booth #2530 from 10am until 5pm on Sunday, March 6 and Monday, March 7, 2005.
The Massey exploration program was supervised by Donald Hawke, P.Geo, President of Zenda Capital Corp. and Qualified Person for this project. Mr. Hawke has reviewed and approved the contents of this release.
For further information contact:Wayne J. O'Connor, Chairman416-364-6957 orDon Hawke, President705-385-0465
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.
ZENDA CAPITAL CORP.120 Adelaide St. W, Suite 512, Toronto, Ont. M5H 1T1Tel: 416-364-6957 Fax: 416-364-5400 Email: hawke@vianet.ca
