ROUYN-NORANDA, QC, Feb. 6, 2020 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce
that its 2020 drill exploration program on the Grog and Northwest
properties, located in Restigouche
county, New Brunswick is ongoing.
The program is meeting its geological targets and continues to
provide very encouraging visual indicators of significant
alteration and mineralization in different contexts related with
the MacKenzie Gulch Fault. The program initiated is at the
reconnaissance stage and covers about 30 kilometres of prospective
ground. Five targets are currently being tested using 2 to 4 holes
and reaching depths of between 100 to 170 metres.
The table below is highlighting the observations of the core
which is being completed in the field as the program advances. Thus
far they highlight three main contexts.
Sectors of
interest
|
Observations
|
Mineralization
type
|
North-West
|
NWST-20-002,
003
|
Orogenic gold bearing
quartz veins systems in sediments
|
Dyke
Swarm
|
GRG-20-001,
GRG-20-002
Close to feldspathic
dykes contacts: re worked hydrothermal breccia with pyrite
stringers over 2 to 5 metres intervals.
Hosted in a sequence
of fine grains sediments including limy graphitic shales and
sandstone.
|
Dykes related skarns
and sediments hosted stockwork
|
Bellevue
North
|
GRG-20-003,
GRG-20-004, GRG-20-005
Carbonate-quartz
stockwork associated with arsenopyrite-pyrite dissemination over 5
to 20 metres intervals. Strong, carbonate – micas alteration.
Lamprophyres dykes observed.
Hosted in fine grain
sandstone and conglomerate sequence, in contact with a limy
graphitic shale.
|
Stockworks and
replacement in conglomerate
|
Michael Ferreira, President and
Chief Executive Officer of X-Terra Resources states, "to date, the
strong presence of mineralization markers that correspond to known
mineralization models over consistent drill intervals is another
milestone reached. Since 2017 when the first discovery of gold at
surface was made, X-Terra Resources has put in place an efficient
targeting and ground truthing approach to reach results while
investing its treasury wisely".
The remaining two drill targets, Bellevue South as well as Grog are expected to
be completed by February 14, 2020. In addition, a drill core
photo album will be uploaded to X-Terra Resources' website in the
coming days and it invites shareholders to review them as well as
its February 2020 presentation.
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.