ROUYN-NORANDA, QC, July
24, 2019 /CNW Telbec/ - X-Terra Resources Inc. (TSXV:
XTT) (FRANKFURT: XTR) is pleased to announce that on June 26, 2019 it completed 57 line-km 2D Induced
Polarization (IP) survey over the Grog Property, located
approximately 40 kilometres southwest of the city of
Campbellton in the province of
New Brunswick. The Corporation has
received the interpretation of the survey data from
MB Geosolutions and the survey identified multiple high
priority chargeability anomalies associated with known gold
mineralization and associated (epithermal/porphyry targets). In
addition, preliminary observations over numerous samples have
highlighted the predominance of feldspathic alterations and/or rich
in alunite (potassium aluminum sulphate) developed in intermediate
intrusions and clastic sediments. These main features are commonly
associated with mineralized epithermal systems located at the top
of porphyritic systems.
The IP data was acquired between June 5
and June 26, 2019 and consisted of 16 lines for a total
of 57 line-kilometres of data (see figure 1). Two distinct and
important trends are visible with the eastern trend of anomalies
measuring 9.6 kilometres and the western trend measuring 9
kilometres.
The IP data was acquired using 'dipole-dipole' configuration
with dipole 'a' spacing of 25 metres. The main objectives of
this program were to map chargeability and resistivity responses
that coincide with known gold bearing mineralization and to
delineate additional exploration targets highlighting the same
characteristics.
Highlights of the IP Survey
The reconnaissance lines completed on the northern part of the
Grog Property allowed X-Terra Resources to interpret a high density
of IP anomalies, typically correlated with resistivity lows. As
such, it represents an interesting outcome in a sedimentary
environment. In addition, this result also enhances the interest in
this area which is underlined by a large circular airborne
radiometric potassic anomaly, located slightly east of the Grog
gold showing.
Line L41 highlights a significant IP chargeability anomaly which
is extended on both sides (East-West) for at least 600 metres and
450 metres (North-South). This particular anomaly is consistent
with known sulphide mineralization known as the Grog showing, a
zone hosted by conglomerates and consists of quarts veining, as
well as breccias, and is rich in pyrite and arsenopyrite, as well
as gold. The best value obtained by X-Terra in this (antiform) was
2.94 g/t Au in a quartz breccia where cavities are rich in pyrite
and some minor stibnite. Furthermore, the Grog Property nor the
Grog showing have ever been drilled. See figure 2.
L43, located 250 metres north of the Grog showing highlights a
continuation of a large and anomalous chargeability trend
associated with gold values on surface See figure 3.
Line 4, highlights another strong IP chargeability anomaly with
low to moderate resistivity and is located 800 metres to the south
west of the Grog showing. This may indicate that the mineralized
system may extend to the south west by more than 800 metres.
Line 7, highlights once again a strong IP chargeability anomaly
with low resistivity and this particular anomaly is located 3.7
kilometres to the south west of the Grog showing. Sample #785111
recently taken at surface in an attempt to explain and prioritize
the anomaly returned 0.1g/t Au, 28.5 g/t Ag, 0.16% Cu. The sample
itself was a grab sample of several small gossanous boulders in
close vicinity to an outcrop of intrusives. The intrusives are very
similar looking to the intrusives at the Grog Showing. Many other
intrusive outcrops and boulders, as well as semi massive pyrite
boulders and argillic alteration were identified along 1.2
kilometre's of roads in this new area.
X-Terra Resources is now in the final planning stages of the
stripping, trenching and drilling program that it plans to
undertake over the priority anomalies. The permit applications have
been submitted and received by X-Terra Resources and the field
crews will be mobilized shortly. The complete IP report and map
highlighting the priority anomalies will be available on the
X-Terra Resources' website shortly.
Qualified Person
Alex MacKay, P. Geo registered in
the Provinces of Nova Scotia and
New-Brunswick, a consultant to
X-Terra Resources, a qualified person under National Instrument
43‑101 Standards of Disclosure for Mineral Projects
("NI 43-101") has reviewed 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.
Forward-Looking Statements
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 Resources, 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
exploration programs and development of the Grog Property, or if it
does so, what benefits X-Terra Resources will derive from the Grog
Property. 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, 2018, 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.
Website: www.xterraresources.com
SOURCE X-Terra Resources Inc.