ROUYN-NORANDA, QC, March 15, 2021 /CNW Telbec/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is
pleased to announce that the line cutting and IP geophysics team
have mobilized to its 100% owned, 92 square kilometre Troilus East
property located on the Frotet Evans greenstone belt, located
approximately 130 kilometres north of the town of Chibougamau, Québec.
The program will cover three unique grids, including the new
mineralized system discovered this past summer (See X-Terra press
release dated August 13, 2020), with
the goal of adding additional precision to the drill targets for a
drill program to be launched shortly thereafter.
These three high priority targets are located about three
kilometres east of the Troilus deposit (Troilus Gold, TSX: TLG)
following the southwestern side of the property. The
2.2-kilometre-long target is based on the discovery by surface
exploration of a polymetallic signature (Cu, Ag, Au, W). The mixed
sequence of intermediate volcanic interlayered with dioritic
intrusions identified in this area shares many similarities with
Troilus gold's deposit.
* Refer to Troilus Gold's NI 43-101 Technical Report dated
October 14, 2020 with an effective
date of August 31, 2020 and entitled
"Preliminary Economic Assessment of the Troilus Gold Project,
Quebec, Canada", available on
Troilus Gold's SEDAR profile at www.sedar.com.
Michael Ferreira, President and
Chief Executive Officer of X-Terra, stated; "We have been looking
forward to this next step since receiving the results of our
geochemical sampling program. It now brings X-Terra one step closer
to the inaugural drill program at Troilus East and with the recent
exploration success of Kenorland Minerals and most recently of
Troilus Gold, it keeps shedding light on the vast possibility of
additional gold occurrences along the underexplored greenstone
belt. This survey will enable X-Terra to add precision to the drill
targets in the upcoming drill program".
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
Troilus East Property, or if it does so, what benefits X-Terra will
derive from the Troilus East Property. 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.