ROUYN-NORANDA, QC, Jan. 22, 2020 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce
that it has increased the overall size of the ongoing drill program
over its high priority targets on the Northwest and Grog properties
located in Restigouche county,
New Brunswick. The drilling was
kicked off over the Northwest vein system at the Trench 26 target
situated in an orogenic quartz vein mineralized environment (see
press releases dated January 7, 2020
and January 13, 2020 for details). At
the Trench 26 target location, significant networks of quartz veins
can be observed over pluri-metric intervals hosted in a
carbonate-chlorite alteration zone.
Based on the success and observations in the field, X-Terra
Resources has decided to add additional holes to certain targets in
order to gain a better understanding of the underlying geological
system and mineralized corridors. The drill team has just completed
drilling the Dyke swarm target where the omnipresent sulphides,
brecciation and alterations observed downhole highlights the
epithermal characteristics X-Terra Resources was hoping
for. One of the targeted alteration zones encountered in hole
number 4 extends from 22 metres down to 38 metres. The upper part
of the alteration zone was lost as part of the casing. Additional
holes should help to establish geometrical parameters such as
orientation and thickness.
Michael Ferreira, President and
Chief Executive Officer of X-Terra Resources states, "We are very
happy to see early success in this drill program. Our main focus
will be to continue drilling the high priority targets while
ultimately trying to connect Grog to Bellevue South/North which currently has a
mineralized footprint of 1.4 kilometres".
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 and development (including any drilling
programs) of the Grog and Northwest Properties, or if it does so,
what benefits X-Terra Resources will derive from the Grog and
Northwest 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 Resources' 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 Resources does not
intend, nor does X-Terra Resources 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.