X Terra Resources (TSXV:XTT)
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1 Year : From Nov 2018 to Nov 2019
ROUYN-NORANDA, QC, May 15, 2019 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) and (FRANKFURT: XTR) ("X-Terra") is pleased to announce it has received the final results with respect to its heliborne time-domain electromagnetic survey on its 100% owned Troilus East Property. Based on the results of this survey X-Terra has acquired by map staking an additional 31 mining claims increasing the size of its Troilus-East Property to almost 7,000 hectares.
The Troilus-East Property is located less than two kilometres from the former Troilus mine (2M oz Au + 70,000 tons of Cu) in the province of Québec, now owned by Troilus Gold Corp. where Troilus Gold Corp. recently announced drill results of 136 metres of 1.1 g/t Au Eq (see Troilus Gold Corp press release dated May 7, 2019).
According to the final report of the heliborne time-domain electromagnetic survey, some EM anomalies can be followed on more than one line and outline conductive lineaments. In addition, most of the EM anomalies are located in close proximity to magnetic anomalies, which indicates that sulphides (including pyrrhotite) are likely to compose at least part of the conductive sources. Based on the results of this heliborne time-domain electromagnetic survey and of its recently completed detailed airborne magnetic survey (See X-Terra's press release dated January 23, 2019), X-Terra intends to perform an exploration program during the 2019 summer on its Troilus-East Property to identify additional geological contexts with similar characteristics to that of the Troilus gold-copper mineral deposit.
X-Terra is also pleased to report that Mr. Robert Fraser will be a consultant to X-Terra for its Troilus East Property. Mr. Fraser, a Professional Geologist, APGO Reg. #0301, was instrumental in the exploration and evaluation of the Frotet-Evans greenstone belt for Kerr Addison Mines between 1984-1988 and Minnova Inc. which included the discovery of the past producing Troilus Gold Copper mine. Mr. Fraser's extensive knowledge of the geology in the area including satellite occurrences, including the host wall rocks and associated alteration, will bring a wealth of knowledge and exploration experience for the advancement of X-Terra's 100% owned Troilus East Property.
"We are extremely pleased Mr. Fraser has decided to work with X-Terra's team on its Troilus East Property. His contribution will play an important role in X-Terra's exploration efforts for this upcoming exploration season" stated Michael Ferreira, President and Chief Executive Officer of X-Terra Resources.
Mr. Jeannot Théberge, P. Geo, a consultant to X-Terra Resources, is the qualified person for the Troilus-East 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 Canada.
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.