ROUYN-NORANDA, QC, June 12, 2020 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra")
is pleased to announce the commencement of its 2020 exploration
program on its wholly-owned Troilus East property on the
underexplored Frotet-Evans greenstone belt in northern Québec.
X-Terra's Troilus East property is located adjacent to Troilus
Gold's (TSX.V:TLG) Troilus Gold-Copper project, on which 6.4
million oz AuEq measured and indicated mineral resources were
reported (source: NI 43-101 technical report entitled "Technical
Report on the Troilus Gold-Copper Project Mineral Resource
Estimate, Quebec, Canada" dated
December 20, 2019, prepared for Troilus Gold Corp. by Roscoe
Postle Associates Inc., available on Troilus Gold Corp's profile on
SEDAR at www.sedar.com).
With the recent increase in activity along the Frotet-Evans
greenstone belt coupled with all the success of Troilus Gold's work
and recently announced $22 million
bought deal financing (See Troilus Gold press release dated
June 2, 2020) there is no better time
for X-Terra to start its exploration program.
Michael Ferreira, President and
Chief Executive Officer of X-Terra states "with Troilus' numerous
surface discoveries including the high grade sample of 110 g/t Au,
approximately one kilometre from the J4 open pit (see Troilus Gold
press release dated December 4,
2018), confirms the presence of high grade gold in the area.
The potential to identify new near-surface gold occurrences over
X-Terra's Troilus East property remains high".
The Troilus East property consists of 182 mining claims (93
km2) and covers, a distance of more than 22 kilometres
along the Frotet-Evans belt. It is also the most proximal land
position to Troilus Gold's Gold-Copper project at less than 2.5
kilometres. See map below:
The Troilus East property straddles a structural zone parallel
to the Troilus Deposit. For a strike length of about 20 kilometres,
highlighted mostly by a mafic volcanic sequence which is
interlayered to elongated mafic to ultramafic intrusions.
Historical governmental mapping programs have already highlighted a
prominent potassic alteration taking the form of biotite. In
addition, more than 23 sulfides occurrences were documented during
these mapping program which were completed by the provincial
government (Sigeom, Énergie et Ressources Naturelles Québec).
X-Terra's recent work on the Troilus East property includes a
detailed magnetic survey flown at 75 metres spacing, 3D
inversion VOXI modeling for magnetic intrusions, an electromagnetic
survey and a property wide till survey, where 72 of 78 samples have
tested positive for gold grains, using both visual evaluation and
the ARTGold recovery technology by IOS Geoservices. Of the 283 gold
grains, a total of 71 have been classified as pristine, meaning
that the location of the till samples in which such gold grains
have been recuperated is most likely located less than 500 metres
from the source of the gold sample.
Additional analysis was carried out over the samples that
highlighted scattered platinum group metals grains in the mineral
concentrate of the tills, suggesting a possible link with mafic to
ultramafic intrusions common in the Troilus East structural
corridor.
Outlook
X-Terra has mandated Technominex of Rouyn-Noranda to assist its team in
undertaking the first phase of work, which will focus on systematic
prospecting and sampling of predetermined targets. The exploration
team will fly over the territory using a helicopter to maximize the
program efficiency. Manual outcrop stripping and channelling could
also be completed depending on the presence of mineralization.
Depending on the results received, additional works such as an
Induced Polarization survey could be necessary before undertaking
additional exploration work, including a first ever diamond drill
program.
In other news, X-Terra has put a temporary hold its work
programs in New Brunswick due to
provincial government response to the recent increase in Covid-19
cases in the Campbellton region
zone 5, where the Grog and Northwest projects are located, which
has led to significant restrictions on non-essential travel in
New Brunswick. X-Terra will be
closely monitoring the provincial government efforts in re-opening
its inter-provincial borders.
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 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
Troilus East, Grog and Northwest Properties, or if it does so, what
benefits X-Terra will derive from the Troilus East, 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.