ROUYN-NORANDA, QC, Nov. 10, 2021 /CNW/ - X-Terra Resources Inc.
(TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to
announce that it has completed its trenching program at the Grog
and Northwest properties located in Restigouche County,
New Brunswick.
A total of 46 trenches were completed, totalling 1.65 kilometres
and over 420 rock samples were collected. The sampling covered
seven unique targets that were selected based on the historical
2018 and 2019 till sampling program, which were split into two
groups, 20 kilometres apart. In both cases, the technical teams
highlighted that new quartz and quartz-carbonate vein networks were
identified in 22 of the 46 trenches and were associated with strong
deformation features such as shear zones and faults located close
to fold hinges. Individual veins within the networks ranged from 10
to 40 centimetres and evolved locally in tectonic breccia over
widths reaching locally 10 to 20 metres.
In parallel, a soil survey (B horizon) has just been completed
and served to cover additional important targets on the property,
including the Grog epithermal system with the objective to support
the ongoing structural study. The area is generally devoid of
outcrops making it necessary to employ a combination of
geochemistry and trenching to identify additional gold potential.
The geochemical technical teams from Terrane Geoscience collected
977 samples, plus 53 blanks and 53 duplicates for a total of 1082,
all of which have now been delivered to the lab for assay.
Northwest System
The Northwest property is known to host isolated high grade gold
bearing quartz veins previously identified and sampled. Veins are
developed in sediments of the White Brook Formation and are
composed of alternating sequence of sandstone and siliceous
mudstone. The area was covered by regional till survey which
identified kilometric gold grain clusters.
- Approximately one kilometre of trenching spread out over 25
unique trenches was completed to cover four targets distributed
inside a 20 square kilometre area.
- Quartz and quartz-carbonate veins networks were identified in
11 of the 25 trenches with apparent widths ranging from less than 1
metre all the way up to 10 metres. The veins identified are
developed in coarse clastic sediments close to siltstone
contacts.
McKenzie Gulch Fault area
Geochemistry of heavy minerals concentrates obtained from 2019
regional till survey revealed arsenic-antimony anomalies with local
gold enrichment correlated with known interpreted north-south
regional faults related to the McKenzie Gulch Fault system.
- 650 metres of trenching spread out over 21 unique trenches were
completed to cover three targets, approximately 2.8 kilometres
apart. A fourth target was prospected and sampled at surface.
- Quartz veining systems were identified in 12 of the 21
trenches, which includes two major veins system cut over lengths of
20 and 30 metres. Veins are commonly brecciated and included in
faulty material.
- Associated sulfides were observed at two locations:
chalcopyrite and sphalerite clots in quartz veins of trench
TR-21-41A and finely disseminated pyrite identified in trenches
TR-21-29 and TR-21-30 over 5 and 7 metres respectively. This
sulfidation is associated with carbonatization in a fault
zone.
Michael Ferreira, President and
Chief Executive Officer of X-Terra, states: "It was a very positive
trenching campaign that yielded many new exciting quartz veins
systems. The sulphides identified and associated with the crack and
fill texture of the quartz and quartz-carbonate veins is
reminiscent of the Rim high grade vein. In addition, the additional
geochemical sampling which is still ongoing will continue to
deliver even more exciting targets that will warrant further
exploration in the future."
All samples have been delivered to Actlabs in
Sainte-Germaine-Boulé and the results are expected to take
approximately four to six weeks to receive.
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 Resources, 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
lab results from the trenching program, exploration programs and
development (including any drilling programs) of the Grog and
Northwest Properties, or if it does so, what benefits X-Terra
Resources 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 Resources' control. These risks,
uncertainties and assumptions include, but are not limited to,
those described under "Financial Instruments" and "Risk and
Uncertainties in X-Terra Resources' 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 Resources does not
intend, nor does X-Terra Resources 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.