ROUYN-NORANDA, QC, May 5, 2020 /CNW Telbec/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is
pleased to announce it has drilled a new gold bearing structure at
the Grog target on the Grog Property located in Restigouche county, New Brunswick. The mineralization style
continues to highlight strong characteristics of an epithermal
system.
Hole GRG-20-012 identified gold ("Au") mineralization
over a significant width with one interval of 0.41 g/t Au
over 36 metres along the hole, which includes 0.46 g/t Au over 31
metres and includes 7.59 g/t Au over 0.6 metres
located at a vertical depth of 81 metres under the Grog
showing.
Michael Ferreira, President and
Chief Executive Officer of X-Terra states, "This is a significant
exploration breakthrough on a property that's never been drilled
and reinforces our expectations that a large epithermal system is
present. While more in-depth geological work, which includes
drilling is needed, X-Terra's management believes that the 11 holes
(1,499 metres drilled) only covered a very small fraction of the
targeted environment. Reaching a significant mineralized interval
this shallow (from 107 metres to 143 metres, in GRG-20-012) is a
milestone we were relentlessly pursuing after completing the
limited field exploration programs based predominately on roadside
trenching. The information obtained in this program will allow the
detailed follow up on the Grog target but also allow X-Terra to
refine and generate more high priority targets carrying the same
geological characteristics to that of the Grog target. This
provides a monumental shift moving forward."
Adding these results and data to our database has resulted in
the hypothesis that, hole GRG-20-012 may have cross-cut a north to
north-east oriented lens. Strong intercept angles of mineralized
quartz veins observed along the core suggest we are close to true
thickness. Significant additional drilling will be required to
define the exact dip and plunge of the mineralized lens and the
true width and extent of this discovery.
The series of 11 holes is split into three clusters comprising
of three to four holes distributed over a target area of about 1.6
kilometres following the North-East regional trend associated with
the McKenzie Gulch regional fault.
Targets
|
Best
Results
|
DIP
(o)
|
Azimuth
(o)
|
Location
|
Characteristics
|
Grog:
|
|
|
|
|
Sequence of
sandstone, conglomerate and mudrock cross-cut by sedimentary
breccia, faults, feldspathic dykes.
Strong argilization,
pyritization and veins stockworks. Silicification. Local
arsenopyrite
|
GRG-20-011
|
0.13 g/t Au over 1.15
m (from 90.45 m to 91.60 m)
|
-54
|
270
|
E653395
N5293149
|
GRG-20-012
|
0.41 g/t over 36 m
(from 107 m to 143 m) including:
0.46 g/t Au over
31 m (from 107 m to 138.05 m), and including:
7.59 g/t Au over 0.6
m (from 137.45 m to 138.05 m)
|
-49
|
270
|
E653320
N5293194
|
GRG-20-013
|
0.57 g/t over 5 m
(from 162 m to 167 m)
|
-48
|
270
|
E653504
N5293202
|
|
|
|
|
|
Bellevue
North:
|
|
|
|
|
Sequence of
sandstone, conglomerate and mudrock. Cross cut by sedimentary,
breccia, faults, feldspathic and mafic dykes
Carbonate-sericite
alteration.
Quartz-carbonate
veinlets stockworks with pyrite dissemination. Local
arsenopyrite.
|
GRG-20-003
|
0.11 g/t Au over 2.85
m (from 46 m to 48.85 m)
|
-53
|
255
|
E652820
N5292629
|
GRG-20-004
|
0.35 g/t over 1.5
m (from 165.5 m to 167 m)
|
-53
|
255
|
E652891
N5292613
|
GRG-20-005
|
0.01 g/t Au over 15 m
(from 9 m to 24 m)
|
-55
|
255
|
E652889
N5292493
|
GRG-20-010
|
0.01 g/t Au over 96.5
m (from 4.5 m to 101 m)
|
-55
|
270
|
E652947
N5292624
|
|
|
|
|
|
Bellevue
South:
|
|
|
|
|
Mudrock,
wacke.
Local disseminated
pyrite, arsenopyrite in quart-carbonate veinlets
stockworks.
|
GRG-20-006
|
No significant
value
|
-56
|
360
|
E652791
N5292165
|
GRG-20-007
|
0.13 g/t over 1.1 m
(from 12 to 13.1 m)
|
-54
|
360
|
E652708
N5291922
|
GRG-20-008
|
0.11 g/t Au over 1 m
(from 17 to 18 m)
|
-47
|
360
|
E652704
N5291960
|
GRG-20-009
|
No significant
value
|
-53
|
360
|
E652772
N5291916
|
|
|
|
|
|
HIGHLIGHTS FROM
HOLE GRG-20-012 and GRG-20-013
|
|
|
|
|
|
Hole ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
GRG-20-012
|
107.00
|
143.00
|
36
|
0.41
|
Including
|
107.00
|
138.05
|
31.05
|
0.46
|
Including
|
114.50
|
117.50
|
3.00
|
1.01
|
Including
|
125.00
|
128.00
|
3.00
|
0.72
|
Including
|
137.45
|
143.00
|
5.55
|
0.92
|
GRG-20-013
|
86.65
|
97.00
|
10.35
|
0.08
|
|
162.00
|
167.00
|
5.00
|
0.57
|
Hole GRG-20-012: The mineralized interval is included in
a clay rich and carbonate alteration zones centered on a complex
sedimentary breccia which includes graphitic slivers. Hydrothermal
and alteration are developed mostly in porous sandstone and fine
grain conglomerates. The pervasive and intense alteration seems
composed mostly of clay mineral assemblages in association with
carbonate, in addition to the quartz veining with open space
filling and geodic textures. The associated sulfides assemblage
composed of pyrite, arsenopyrite and marcasite (a low temperature
type of iron sulfide) is mostly finely disseminated with percentage
in volume increasing locally from less than 1% to 10% over metric
intervals.
Hole GRG-20-013: Collared 185 metres to the east has
also cut a sequence of anomalous gold intervals with as best result
0.57 g/t Au over 5 metres. Mineralization is hosted
in a similar context when compared to GRG-20-012. Another type of
mineralization was also observed between 86,65 and 97 metres along
the hole under the form of a pale yellow strongly argilized dyke of
intermediate composition. The unit returned 0.08 g/t Au over 10.35
metres, including 0.14 g/t over 4 metres, associated with finely
disseminated pyrite and arsenopyrite.
Further drill intercepts obtained over the Bellevue North area
highlighted similar characteristics with the drill holes completed
over the Grog showing, such as the argillic alteration and the
conglomerate-sandstone assemblages, locally affected by breccia. In
this context, fracturing is mostly filled with quartz-carbonate
veinlets instead of the quartz dominated ones as observed at Grog.
Bellevue North is located about 600 metres south of Grog. These
intervals demonstrate and reinforce the possibility that they were
drilled on the periphery of a similar mineralized trend.
Outlook
The detailed interpretation on a larger scale of all information
gathered is ongoing and will provide the spatial orientation of the
mineralized trend. X-Terra's recently completed detailed airborne
magnetic and ground IP survey are being used to compare the
drilling results and surface data in order to distinguish and model
additional exploration and drill targets. Thus far, by using the
surface exploration data, drilling results and the improved 3D
inversion mag model, which allows X-Terra's team to carefully
interpret rock units and structures down to a vertical depth of 300
metres. X-Terra has been able to identify 12 new exploration and
drilling targets carrying similar geological characteristics. Based
on what X-Terra now knows, the principal structure underlying gold
occurrences corresponds to an area of about two kilometres by three
kilometres and the individual targets identified within, correspond
to twelve 500 metres segments highlighting varied orientation
depending on local structural geometry.
While X-Terra now has a firm grasp, it will continue evaluating
and understanding the geological sequence that is triggering the
gold deposition process, the structural relations and controls
within the Grog environment. The next phase of work will consist of
substantiating the key geological characteristics of the Grog
target over these newly identified targets that are all located
within the interpreted hydrothermal epithermal system.
Newly updated maps will be available on X-Terra's website very
soon.
QA/QC and Drilling Contract
X-Terra 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.
Some samples were sent to AGAT Laboratories where they were
dried and crushed to 75% passing 10 mesh (2mm) (Code 200001), split
to 250g and pulverized to 85% passing 200 mesh (75μm). Samples are
then analyzed with four acid digest method (Code 201 070) with
ICP-OES and ICP-OES Finish (per sample) for arsenic and silver.
They are also analyzed for Gold by Fire Assay with ICP-OES (30g)
(Code 202052).
X-Terra has hired the Logan Drilling group based out of
Stewiacke in Nova Scotia. The hole diameter is NQ. Drilling
took place from January 25 to February 21,
2020.
Grog and Northwest Properties
X-Terra has an option to acquire a 70% interest in the Grog
Property and Northwest property (see press releases dated
April 22, 2019 and April 30,
2019).
Qualified Person
Jeannot Théberge, P. Geo registered in the Provinces of Québec
and New-Brunswick, a consultant to
X-Terra, 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 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, 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 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's 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, 2019, 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.
SOURCE X-Terra Resources Inc.