ROUYN-NORANDA, QC, Dec. 18, 2018 /CNW Telbec/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to
report the completion of a significant helicopter-borne
electromagnetic (''VTEM'') survey on its wholly-owned Ducran
project, acquired in 2017. The Ducran property is comprised of 66
mining claims covering a surface area of approximately
36 km2. The Ducran property is located
approximately 14 kilometres to the South of the town of
Chapais in the Province of Québec
and is easily accessible by a series of logging roads.
Given its significant depth penetration, this VTEM survey,
conducted along flight lines spaced 75-metre apart and totalling
approximately 319 line kilometres, is designed to detect new
conductors that can be associated to the main Ni-Cu-Zn and Ag
showing discovered in 2017 (see X-Terra's press release dated
October 31, 2017) and also to
identify new conductors in this favorable geological context.
In the fall of 2017, the X-Terra's exploration team outlined a
polymetallic mineralization hosted by mafic schist in a sheared
polyphased intrusion (diorite, quartz diorite and gabbro) and
extended it by drilling to 54 metres vertically and 25 metres to
the South-East. The mineralized shear is open at depth and in all
directions. Additionally, the historical Boma showing, in which a
short drill hole was completed in 1965, located at 570 metres to
the South-East of the Ducran showing returned 5.14 g/t Au, 12.77%
Cu and 84.34 g/t Ag over 0.61 metres (GM 48085) and remains
Following the VTEM survey, X-Terra will perform follow-up work
in an effort to validate the anomalies in the vicinity of the
Ducran and Boma showings as well as the new VTEM anomalies located
in favourable geological settings.
In other news, X-Terra is also pleased to announce the results
of its annual and special meeting of shareholders held on
December 12, 2018 in Rouyn-Noranda, Québec. At the meeting,
shareholders elected Michael
Ferreira, Sylvain Champagne,
Michel Chapdelaine, Jean-François
Madore, Michael Byron, Kim Oishi and Sébastien Bellefleur as members of
the Board of Directors of X-Terra. The shareholders also
re-appointed PricewaterhouseCoopers LLP, Chartered Professional
Accountants, as the auditors of X-Terra. The resolution ratifying
and confirming X-Terra's stock option plan was withdrawn and not
presented for a vote by shareholders at the meeting.
Mr. Claude Larouche, PGeo, a
consultant to X-Terra Resources, is the qualified person for the
Ducran property under National Instrument 43-101 - Standards of
Disclosure for Mineral Projects, responsible for the technical
contents of this news release, and has approved the disclosure of
the technical information contained herein.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on
acquiring and exploring precious metals and energy properties in
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of X-Terra, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. Forward-looking statements should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether, or the times at or
by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including the development of
the Properties, or if any of them do so, what benefits X-Terra will
derive from the Properties. Forward-looking information is
based on information available at the time and/or management's
good-faith belief with respect to future events and are subject to
known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond X-Terra Resources'
control. These risks, uncertainties and assumptions include, but
are not limited to, those described under "Financial Instruments"
and "Risk and Uncertainties" in X‑Terra's Annual Report for the
fiscal year ended December 31, 2017, a copy of which is
available on SEDAR at www.sedar.com, and could cause actual events
or results to differ materially from those projected in any
forward-looking statements. X-Terra does not intend, nor does
X-Terra undertake any obligation, to update or revise any
forward-looking information contained in this news release to
reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
SOURCE X-Terra Resources Inc.