ROUYN-NORANDA, QC, Feb. 18, 2020 /CNW Telbec/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that its
first two holes at the Northwest property, located in Restigouche county, New Brunswick, have returned gold
values.
The targets were designed to test a new hypothesis and not any
existing high-grade showings previously discovered over the
property, such as the Rim, Dome or the Bonanza showing (See X-Terra
Resources' press release dated December 5,
2018 for historical results). Target trench 26 hosted in
greenshist sediments, highlighted gold values up to 4.5 g/t Au in
trench (See X-Terra Resources' press release dated November 27, 2019) where the host structure
highlighted a N-NE strongly dipping shear zone along a folded
contact.
The numerous anomalous results in gold, including 6.93 g/t Au
over 0.5 metre in NWST-20-003 and 1.2 g/t Au over 1 metre in
NWST-20-002 prove that the system is gold bearing. The two holes
are located on the same east-west section, and gold bearing veins
were intercepted respectively at 32 metres and 34 metres depth
following a 55-degree dip
Actual interpretation indicates possibly that the newly found
mineralization is hosted in a distinct north to north-east shear
zone located outside the actual till survey coverage and at 2.2 and
3.2 km from existing gold showing (see map below).
RESULTS
The 1.2 g/t Au over 1 metre result obtained in NWST-20-002 from
32 metres to 33 metres was located within the 22 metre stockwork of
veins up to 15% quartz carbonate with traces of pyrrhotite and
chalcopyrite along with strong chlorite alteration. The 6.93 g/t Au
over 0.5 metre obtained in NWST-20-003 from 34 to 34.5 metres was
located within a 15.5 metre stockwork of veins with quartz
carbonate including traces of pyrrhotite and
chalcopyrite.
The table below highlights the details
DDH
|
From:
|
To:
|
Au
(g/t)
|
Length
|
NWST-002
|
12.50
|
13.80
|
0.19
|
1.30
|
|
23.00
|
24.50
|
0.10
|
1.50
|
|
32
|
33
|
1.21
|
1.00
|
NWST-003
|
20.00
|
21.10
|
0.35
|
1.10
|
|
32.90
|
34.00
|
0.25
|
1.10
|
|
34.00
|
34.50
|
6.93
|
0.50
|
Michael Ferreira, President and
Chief Executive Officer of X-Terra Resources states, "hitting gold
values in these first holes is big step and really encouraging
considering that the initial gold discovery was generated by a
fortuitous roadside prospecting. The extension of the till survey
toward that direction, also by reducing the initial 500 metres
spacing between samples, should define more accurate targets, and
eventually follow up with additional drilling".
In additional news, three more holes, GRG-20-001, GRG-20-002
(From the Dyke Swarm Target) and one hole – GRG-20-003 from the
Bellevue North target, have been logged, cut and sampled and have
been sent to the lab.
QA/QC
X-Terra Resources adheres to a strict quality assurance and
quality control program with regard to core handling, sampling,
transportation of samples and lab analyses. Samples selected for
assay were shipped via secure transportation to the Techni-Lab
(S.G.B. Abitibi Inc.) preparation facility in Ste-Germaine Boulé,
QC. samples were assayed for gold by standard fire assay on 30-gram
fractions with atomic absorption (TMT-G5B) or gravimetric finish
(TMT-G5C) at Techni-Lab (S.G.B. Abitibi Inc.). In addition, the
quality control protocol includes insertion of blank or standard
every 10 samples on average, in addition to the regular insertion
of blank, duplicate and standard samples accredited by Actlabs
during the analytical process.
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.