ROUYN-NORANDA, QC, July 2, 2020 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra")
is pleased to announce it has completed the first geological
reconnaissance and prospecting campaign on its Troilus East
property located on the Frotet-Evans greenstone belt in
James Bay, Québec.
X-Terra's wholly-owned Troilus East property is located adjacent
to Troilus Gold (TSX.V: TLG), Urban
Gold (TSX-V: UGM) and Kenorland Minerals ground. The area
has seen a significant amount of exploration which has focused on
the gold potential, something the Frotet-Evans belt hasn't seen in
almost thirty years. This renewed interest was triggered by the
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). For a period of two weeks, X-Terra's exploration
crew, also supported by Technominex of Rouyn-Noranda, completed a helicopter assisted
program and collected 451 chip samples from outcrops, boulders, as
well as some channel sampling. The sampling coverage was mostly
directed up ice from previously identified gold in till
anomalies.
Preliminary indications coming from field observations allowed
to identify major structures and deformation zone which can be
followed over pluri-kilometric strike length. Mineralization
features such as strong hydrothermal alteration and sulfides
occurrences found during the program where carefully documented for
follow up.
Michael Ferreira, President and
Chief Executive Officer of X-Terra states "This program delivered
everything we could've expected from a first exploration campaign.
We are looking forward to the upcoming assay results, and related
interpretation of the mineralization system. We will continue
updating the market as we continue to move this project forward
towards the second phase of exploration as well as the advancement
we plan on making for our Grog and Northwest properties in
New Brunswick".
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:
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.
Website: www.xterraresources.com
SOURCE X-Terra Resources Inc.