ROUYN-NORANDA, QC, March 29,
2022 /CNW Telbec/ - X-Terra Resources Inc. (TSXV:
XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to provide
an update on the Grog project, with respect the geochemical
sampling program carried out in Q4 of 2021. The Grog project is
part of a regional position held by X‑Terra along the McKenzie
Fault located in Restigouche County, New-Brunswick, where gold-arsenic and antimony
geochemical anomalies have continuously indicated the presence of
an extensive mineralized system associated with an understudied
thrust belt.
Grog history
- Grog is an Appalachian Epithermal gold system hosted in
detrital sediments of the Boland Brook Formation of Ordovician age
located about 80 kilometres north-west of the Bathurst mining Camp.
- Gold surface showings identified at surface between 2017 and
2019 are associated with strong argillic alteration and dense
quartz vein networks and breccias, locally in contact with altered
intermediate dykes, where sulfides are present. The terrain is
strongly tectonized, affected by folding and faulting events.
- Since the beginning of X-Terra's involvement with this project
in November 2018, the Grog gold
showing has been the focus of systematic but widely spaced
exploration works including trenching, geophysical methods and soil
geochemistry. In addition, X-Terra completed two diamond drilling
programs totalling 4,667 metres over 29 holes which were designed
to test varied targets over an area extending approximately 1.5
kilometres in 2020 and 2021.
- Over the Grog showing, discovery hole GRG-19-12 returned 0.46
g/t over 31 metres with grades ranging from 0.3 to 7.6 g/t Au (see
X-Terra's press release dated May 5,
2020). Four additional holes returned varied intersections
with grades between 0.2 g/t and 0.3 g/t Au over lengths varying
between 4 and 19.5 metres.
2021 Highlights:
In Q4 of 2021, X-Terra covered the Grog area with approximately
8.9 line kilometres of "B horizon" sampling, representing a total
of 264 samples. The survey was designed to evaluate the east-west
and north-east suspected structural controls with an average line
spacing of 250 to 300 metres. The survey grid is centered on the
existing Grog and Bellevue North
drill showings, and it was extended up to 1 kilometre westward
and southward to cover additional potential of the system inside
the pre-identified magnetic signature and lithological environment.
These new geochemical results were combined with X-Terra's 2020
sampling lines (139 samples over 2.8 line kilometres) which were
collected using the same methodology. The combined surveys now
cover an area of about three square kilometres
(300 hectares).
Six remarkable gold–antimony–arsenic targets were identified in
the Grog area, extending the potential gold trend by 1.5 kilometres
along the north-east strike, and 2.5 kilometres along the east-west
axis, following the Grog sedimentary sequence. Gold anomalies in
this environment are defined by values ranging 10 to 67 ppb,
spatially correlated with antimony anomalies of 10 to 75 ppm and
arsenic anomalies of 50 to 440 ppm. Targets are based on the
line-to-line correlation of values following structural trends
identified by their respective magnetic contrasts. The map below
highlights the six new important targets.
"Grog South": This target is located 100 metres south of
the Grog showing and is only partially known from the offset
drilling done in 2020 where low grade intervals hosted in altered
dykes follow an east-west trend. The new gold-arsenic anomaly can
be followed over approximately 600 metres using three of the new
north-south geochemical sampling lines.
"Grog East" Is an undrilled target located
approximately 500 metres east of the Grog showing. The target
position corresponds to the actual eastward limit of the
gold–antimony–arsenic anomaly covered by sampling. Gold in soil
values were intercepted in three lines highlighting a north-east
anomalous trend which is also superimposed on a magnetic
contrast.
"Grog West" Is also an undrilled target located 500
metres westward from the Grog showing. The gold, antimony and
arsenic anomaly is constrained by three sampling lines following an
extension of about 200 metres. It also corresponds to a clear
north-east demagnetization pattern.
"Western extension" New target identified one
kilometre west of the Grog showing along one line situated on a
never explored area. The target follows the same east-west magnetic
signature related to the Grog sequence.
"Bellevue North" This target, while partly known but
was not fully understood by the 2019 offset drilling which resulted
in scattered values from 0.1 to 1 g/t Au. The new interpretation
has indicated a clear east-west orientation of the gold structure
identified by strong fracturing with disseminated sulfides. The new
geochemical signature associated strong gold results with antimony
covers 200 to 300 metres of strike length correlated with a
magnetic low signature.
"Bellevue": This undrilled new gold target is located
approximately 200 metres north-east of the historical Bellevue South drilling completed in 2019. In
addition, it corelates to a strong continuous gold in soil anomaly
and lies in an east west low to moderate demagnetization
pattern.
Outlook
The soil survey approach has once again proved to be a very
useful exploration tool for the Grog target in combination with IP
and magnetic geophysical surveys. Without the aid of the
geochemical survey, it was challenging to highlight a clear gold
signature related to the sub-outcropping and drill tested Grog
showing.
The best signatures obtained have been identified in the
surrounding environment where little or no work has been completed.
More importantly, progressive sampling over the Grog sedimentary
sequence has highlighted new gold targets on an area that now
reaches three square kilometres.
Michael Ferreira, President and
Chief Executive Officer of X-Terra stated, "These new targets,
continue to prove to us that we are situated within a major
hydrothermal system that continues to grow. At Grog, the learning
curve to understand where we lie in the epithermal system has been
long and challenging. But, considering that there is no other
example of this type of mineralization in the area and the
particularly complex Appalachian geological framework, a step back
and persistence had to be employed. The objective going forward is
to refine each of the targets so that we can drill them with a high
hit and success ratio"
QAQC
The geochemical soil sampling program was completed by Terrane
Geosciences inc. supervised by Stefan
Kruse, Ph.D., P.Geo. Soil samples were processed at the
Actlabs preparation facility of Fredericton, NB and at the Ancaster laboratory, Ontario. Samples were sieved at -177 µm
considering the coarse nature of material collected. Prepared
samples were submitted to Instrumental Neutron Activation Analysis
(INAA). The detection limit for gold is 2 ppb.
Qualified Person
Martin Demers, 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 and
drilling results) of the Grog project, or if it does so, what
benefits X-Terra will derive from the Grog 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.
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.