ROUYN-NORANDA, QC, Oct. 13, 2021 /CNW/ - X-Terra Resources Inc.
(TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to
announce that it has mobilized its field crew to the Grog and
Northwest Properties located in the Restigouche County,
New Brunswick to launch the third
and largest stripping and trenching program to date.
Priority of the program will be concentrated over the Northwest
high grade orogenic gold system, in addition to some trenches also
being completed over the Grog Epithermal target in order to expand
the mineralized footprint.
X-Terra has also engaged the services of Terrane Geoscience,
based in Halifax Nova Scotia to
execute a large-scale geochemistry program over 30 transects with
sample spacing every 50 metres, totaling 47.5 line kilometres.
X-Terra will be conducting this further B-horizon soil
geochemistry survey along selected transects as a follow-up to the
sampling program completed by Terrane in July 2020. Key analytical pathfinder elements for
this survey include Au, As, Sb and Fe. A high priority has recently
been put forth over the Northwest property given the geological
context and its similarities with New Found Gold's Queenway
property located in Newfoundland
and Puma Explorations Williams Brook property (located
approximately 12 kilometres east of Northwest) where Puma recently
announced a major gold discovery (See
Puma's press release dated September
15, 2021).
The area of interest is underlain by Late Ordovician, deep-water
clastic sediments of the Grog Brook Group crosscut by different
alteration and intrusion generations. Previous exploration phases
performed by X-Terra have demonstrated an extensive gold grain
counts anomaly coming from spaced out till sampling in a region
nearly completely covered by overburden. Additionally, drill holes
completed to date have identified gold bearing shear zones along
magnetic contrasts. Patterns identified so far will contribute to
focus on these high priority areas.
In additional news, X-Terra is excited to announce it has
received all the drill hole data from its recently completed drill
program at its wholly-owned Troilus East project and the results
will be announced in the coming days.
"We have been waiting for this additional drill data for weeks
and now that it has finally arrived, the technical team is
compiling the data and we look forward to reporting the results".
stated Michael Ferreira, President
and Chief Executive Officer of X-Terra.
Qualified Person
Jeannot Théberge, P. Geo registered in the Provinces of Québec
and New-Brunswick, a consultant to
X-Terra Resources, 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 Resources is a resource company focused on acquiring and
exploring precious metals and energy 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 of the Grog and Northwest Properties or
results from the drill program on the Troilus East
project, or if it does so, what benefits X-Terra
will derive from the Grog and Northwest Properties and the
Troilus East project. 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, 2020, 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.