ROUYN-NORANDA, QC, April 27, 2021 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra")
is pleased to announced the results of the Induced Polarization
(IP) survey recently completed on its 100% owned,
92 km2 Troilus East property located on the Frotet
Evans greenstone belt approximately 130 kilometres north of
the town of Chibougamau,
Québec.
The IP survey (100 metre line spacing) totaling 19-line
kilometres has identified a one kilometre long complex anomaly
pattern. The anomaly is centered on a strong conductor coincident
with a kilometric gold in soil anomaly combined with a polymetallic
copper, silver and tungsten signature. Previous exploration
programs returned Cu-Ag-W values from various lithologies
corresponding to a regional mafic to felsic contact. Alterations
such as silicification, calc-silicates and biotite rich assemblages
were recognized in the field and compared with the Troilus Gold
project located about three kilometres north-west of X-Terra's
Troilus East property (see X-Terra press release dated December 30, 2020 and March 15, 2021).
The high chargeability – low resistivity anomaly shows a complex
shape embracing an apparent width varying between 50 and 400
metres. The anomaly is centered on a strong conductor which can be
followed along strike for over 800 metres. The grid aims to test
the superimposed geochemical and geophysics anomalies and it
represents about one third of the favorable ground previously
outlined.
Upon further review of the Examine governmental data base,
X-Terra was able to conclude from the historical IP survey
completed over the Troilus area, that the Troilus deposit is
developed between strong conductors. The position of the Au-Cu
mineralization corresponds to wide chargeability responses
explained by 200 metres to 1 kilometre wide alteration halos.
However, this relationship must be perceived on the regional scale
study. The IP coverage done by X-Terra is along those lines:
testing a favorable parallel trend that is similarly orientated
northeast-southwest like the nearby Troilus gold deposit, close to
a regional fault and coincident with electromagnetic anomalies.
*Lambert, G., 1995. Rapport sommaire sur l'interprétation de
levés de polarisation provoquée, cantons 1423, 1424, 1523, 1524.
Corporation Minière Metall inc., Propriété Frotet-Troilus.
GM-52878.
For additional maps on the high chargeability – low resistivity
anomaly, please visit X-Terra's website at
www.xterraresources.com.
Michael Ferreira, President and
Chief Executive Officer of X-Terra, stated; "This is an extremely
exciting development for X-Terra and the Troilus East property.
These results coupled with the additional surface elements provide
further evidence that additional porphyry type systems are
possible. The fact this anomaly is present within 3.5 kilometres of
Troilus Gold's existing 8.1 million oz AuEq deposit* (all
categories), is what makes it even more attractive for X-Terra. Now
that the results have been compiled, the planned drill program will
undergo slight modifications and add four to six holes to test this
never before drilled anomaly. In addition, the acquisition of
Urbangold by Troilus Gold (See Troilus Gold's press release dated
March 23, 2021) marks yet another
reduction in active exploration companies along the Frotet Evans
belt and X-Terra is proud to be one of the very few companies
remaining along the Frotet Belt that is actively exploring.
*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", a copy of which
is available on Troilus Gold's SEDAR profile at www.sedar.com.
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.