ROUYN-NORANDA, QC, Dec. 2, 2019 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) and (FRANKFURT: XTR) is pleased to
announce that it has commenced a high resolution heliborne
geophysical magnetic survey over the eastern portion of the Grog
property located in the Restigouche county of New Brunswick, (see figure 1 below).
The survey is being conducted by Prospectair Geosurveys using a
heliborne strapped down non-oriented sensor. The high sensitivity
of this equipment will allow to detect weak magnetic contrasts
required to interpret geological structures.
The survey will consist of 700 line-kilometres that will be
flown at 50-metre line spacing covering approximately 31.5
km2, which will be completed before December 7, 2019.
The survey will serve to draw a preliminary geological and
structural map combining the information the ground crews have
collected over the last two stripping and trenching programs. The
knowledge gained to date with field works highlights strong
evidence of a possible relation between a large-scale fold hinge
and the concentration of gold bearing fracturing and alteration
systems. Magnetic patterns and contrasts will also help to define
the extension of prospective trends.
Michael Ferreira, President and
CEO of X-Terra Resources states: "This is an important step for
us, as we have already begun our targeting initiatives for the
inaugural drill program. This quick follow up serves as an ongoing
compilation and understanding in order to define high quality gold
drill targets for near term drilling".
Qualified Person
Jeannot Théberge, P. Geo registered in the Provinces of Québec
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, including the results of high resolution
heliborne geophysical magnetic survey described in this press
release, 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.