Magnetic Survey Shows Lithium Discovery Potential of X-Terra'S James BAY Liberty Property
MAGNETIC SURVEY SHOWS LITHIUM
DISCOVERY POTENTIAL OF X-TERRA'S
JAMES BAY LIBERTY PROPERTY
ROUYN-NORANDA, QC
,
April 18, 2023
/CNW/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
" or the "
Corporation
") is pleased to report that a high-resolution
magnetic survey of its 100%-owned Liberty Property in
James Bay
, Québec, outlines a potential
structural connection between Liberty and Winsome Resources' emerging deposit at its Adina
Project contiguous to the western border of Liberty.
Liberty has never been previously drilled or systematically explored, underscoring X-Terra's
opportunity as the Corporation kicks off an extensive multi-faceted program leading to first-ever
diamond drilling at this 20 sq. km property.
Latest drill results released by Winsome confirm high-grade lithium mineralization continues at least
1.9 km east of the Main Zone,
within approximately 600 metres of the Liberty border
, and
remains open to the east (refer to Winsome news release
April 2, 2023
). The total strike length of
the lithium mineralized trend is now >3 km, open to both the east and the west.
Highlights – Liberty Magnetic Survey
1
.
An important 2.75-km-long (east-west) by 500-metre-wide (north-south) low magnetic corridor
at Liberty is on strike with Winsome's pegmatite system.
2
.
The high-resolution survey identified a
second
strong magnetic contrast extending for 6.5 km in
the northern half of Liberty.
3
.
These two trend orientations clearly connect to the west with the Adina pegmatite system.
Mr.
Michael Ferreira
, President and CEO of X-Terra, commented: "We are thrilled with the survey
results as they have exceeded our expectations by not only providing detailed information but also
identifying a secondary structure trending 6.5 kilometres to the northeast. The strong structural and
magnetic correlation between the Adina spodumene pegmatite trend and the Liberty Property has
significantly increased our motivation to make swift progress."
Mr. Ferreira added, "The presence of a primary intense low magnetic signature trending in line with
Winsome's current drill campaign is particularly exciting and will enable our technical team to
advance this project significantly over the coming months. We look forward to providing additional
updates in the near future."
Liberty Property Map (CNW Group/X-Terra Resources Inc.)
Liberty Magnetic Survey Map (CNW Group/X-Terra Resources Inc.)
X-Terra notes that pegmatites are predominantly located in low magnetic contrasts such as
the one highlighted in the map above.
Survey Details
The high-resolution magnetic survey, totalling 431 line km, was completed over the Liberty Property
and flown at 50-m line spacing to optimize the clarity and detail of subtle structures. The southern
half of the survey was flown over the contact of the Trieste Formation which hosts metamorphic and
an intrusive core complex composed of granitoid to mafic intrusive rocks. The contact is clearly
marked by a strong magnetic contrast. Based on field observations, it is also the focus of different
episodes of pegmatite veining and late tectonic granitic intrusion hosted in amphibolite. The
upcoming field program will be instrumental to validate the influence of felsic intrusions and
pegmatite density in this top priority area.
Q
u
alified Person
Martin Demers
, P. Geo (ogq #770, APEGNB L5980), registered in the provinces of Québec and
New-Brunswick
and a consultant to X-Terra, is a qualified person
under National Instrument 43
–
101
- Standards of Disclosure for Mineral Projects.
He 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 well-structured publicly listed resource company with projects in the James
Bay Lithium District in
Quebec
as well as in
New Brunswick
(precious metals). Advancing its projects
with thoughtful and technical rigor, X-Terra strives to discover and delineate new compliant
resources, creating value for its shareholders.
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 expected exploration
programs in the spring and summer of 2023, and the timing thereof, and development (including
any drilling programs) of the Liberty, Galli and Triple Lithium projects, or if it does so, what
benefits X-Terra Resources will derive from these lithium projects. 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, 2022
, 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.
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For further information:
X-Terra Resources Inc., Michael Ferreira, President and Chief Executive
Officer, 147 Québec Avenue (back door), Rouyn-Noranda, Québec, J9X 6M8, E-mail:
[email protected]; MarketSmart Communications Inc., Adrian Sydenham, Toll-free: 1-877-
261-4466, Email: [email protected]
CO: X-Terra Resources Inc.
CNW 08:00e 18-APR-23