ROUYN-NORANDA, QC, Sept. 21, 2020 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra")
is pleased to announce the results of its geochemical sampling
program along with the additional IP ground geophysics. These
programs were designed to further validate targets for the second
drill program at the Grog epithermal system and to evaluate the
first ever drilling over the high-grade Rim vein target at
Northwest (see X-Terra' s press release dated December 5, 2018).
Highlights
- X-Terra has increased the size of the original drill program
(11 holes) to a total of 20 holes, which include 4 shallow holes of
100 metres at the Rim target and 16 holes ranging from
150 metres to 300 metres, at the Grog Target
- Gold-in-soil anomalies above the Rim vein in addition to 4
other gold occurrences highlight the stacking possibility of
additional gold bearing veins
The Grog and Northwest property is comprised of 36 claims
totalling approximately 245 square kilometres, located in the
Restigouche County in northwestern New
Brunswick and located approximately 100 kilometres west of
the Bathurst mining camp.
"The correlation obtained during this phase of works between low
mag, high resistivity and gold-arsenic-anomaly at the margin can be
considered a significant step up in our understanding of the Grog
system. Not only was the kilometric strike length of the known gold
system reached and confirmed by a common signature, but our
hypothesis was validated that two other parallel trends of the same
orientation and thickness creating a 5 km2 target.
This threshold was an important step to reach considering that,
this scale is widely accepted as precedent for exploring a deposit
of a significant size" stated Michael
Ferreira, President and Chief Executive Officer of
X-Terra.
Grog
At Grog, a total of one hundred twenty-eight (128) geochemical
samples were collected over three (3) parallel lines with
approximately 150 metres between lines and samples taken every 25
metres. The objective was not only to confirm the position of the
Grog gold bearing structure but to test and confirm the possibility
of parallel signatures that X-Terra identified through its 3-D
magnetic inversion analysis. The "B" horizon samples were assayed
by neutronic activation (INAA), which allowed X-Terra to determine
rock types, alteration patterns and precise levels of pathfinder
elements, such as gold (Au), Arsenic (As) and Antimony (Sb). The
results yielded values up to 36 ppb Au, 291 ppm As and 25.8 ppm
Sb.
Elevated gold anomalies were identified on two of the three
lines, mainly centered on the Grog target, where a northernly
oriented mineralized trend returned a first drill result of 0.46
g/t Au over 31 metres during the first ever drill program
(see X-Terra's press release dated May 5,
2020). The arsenic and antimony elements complement the
signature offering a better continuity of the identified Grog
target. The combined, superimposed Au-As-Sb anomaly now outlines
this target to 250 metres in width while also extending it
approximately 750 metres. Excitingly enough, the same type of
anomaly was able to be identified 700 metres east-south-east of the
Grog target on a parallel trend.
Four (4) lines of Induced Polarization (IP) ground geophysics
were also completed, totalling 5-line kilometres. The spacing
between the survey lines was 300 metres and the results highlighted
very clear windows of resistive host rocks corresponding to
silicified sediments.
While the combination of gold results from the new survey
recently completed to that of the survey completed in 2017 is
somewhat incompatible for gold, due to the different methodologies
that were applied, the combination of other indicators like arsenic
and antimony (As, Sb) fit not only with bedrock structures mapped
in the field but also with the geophysics. When all of these
elements are taken into account, the overall Grog footprint can be
extended five (5) kilometres north-south and two (2)
kilometres east-west.
By completing this detailed interpretation with all the data
available, X-Terra has been able to outline up to 16 drill targets
at Grog that will not only follow up on the initial discovery (see
X-Terra's press release dated May 5,
2020) but also the two additional parallel trends to
Grog. See map and results below:
Northwest
The Rim vein showing has finally been targeted for a first ever
drill test on the Northwest property. The vein is part of a
regionally scattered gold bearing quartz vein system, generally
oriented parallel to the north-east McKenzie regional fault. The
Rim vein showings position corresponds to a distinctive magnetic
contrast suspected to correspond to an unmapped strike slip fault.
An initial chip sampling program completed on the Rim vein returned
gold grades ranging from 4,5 g/t Au up to 1,205.06 g/t Au (see
X-Terra's press release dated December 5,
2018).
Twenty-four (24) soil samples were collected on one 600 metres
long line using 25 metres spacing between samples. The objective of
the survey was to test the stacking possibility of parallel veins
to Rim by sampling perpendicular to the vein orientation. The
results yielded five (5) samples that identified as distinct
gold-in-soil anomalies, including one directly above the Rim vein.
These distinct gold-in-soil anomalies including the sample above
the rim vein are spaced between 50 and 200 metres apart. See map
and results below:
The drill plan for this target includes four (4) shallow holes
of 100 metres, which is designed with the goal of testing the down
dip projection of soil anomalies and identify the possibility of
additional gold bearing quartz veins.
Quality assurance/quality control
152 samples of "B" horizon soil were collected between July 23 and July 30, 2020 by Terrane
Geoscience. Samples recovered weighted between 300 and 500 gr.
During sampling, tags were randomized with blanks and field
duplicates inserted at respectively twenty (20) and ten (10)
samples. Samples were processed at the Actlabs preparation facility
in Fredericton, New-Brunswick, and
directed to Ancaster, Ontario for
geochemical analysis. After drying and sieving to -63 microns,
samples were irradiated and subsequently measured for the emitted
gamma ray.
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.
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.
About X-Terra Resources Inc.
X-Terra is a resource company focused on acquiring and exploring
precious metals properties in Canada.
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.