X-Terra Resources announces new discovery expanding the Grog mineralization footprint to 1.3 kilometres and remains open
X-Terra Resources announces new discovery
expanding the Grog mineralization footprint to
1.3 kilometres and remains open
ROUYN-NORANDA, QC
,
Oct. 11, 2019
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) is pleased to announce that it has completed its first stripping and trenching
program at the Grog and Northwest properties, both located in the
Restigouche
county in the
province of
New Brunswick
.
The program was initiated on the Grog property to follow up and explore the high priority
chargeability anomalies over two distinct trends, both measuring over 9 kilometres following the
McKenzie regional strike slip fault (See X-Terra Resources' press release dated
July 24, 2019
).
The geology of the area is known only from regional mapping and is composed of sediment domains
of the Appalachian fold and thrust belt. The X-Terra Resources exploration team focused on defining
a pluri-kilometric dyke swarm associated with feldspathic and argillic alteration halos, pyritization and
open space quartz veining and breccia.
The new discovery, the
Bellevue
showing, returned a gold value of 2.24 g/t from a 1 metre chip
sample. The result was obtained from trenching at a depth of approximately 2 metres in a
weathered and oxidized bedrock. Given the concealed nature of this oxidized bedrock, the team
decided to restrict the size of the trench until results were obtained. Given that positive results have
now been achieved, the Corporation can now move forward with the following stripping program
slated to debut shortly, in order to properly evaluate the thickness, length and orientation of the
mineralized structure.
The new sampling area is located at 1.3 kilometres southwest of Grog gold showing (See X-Terra
Resources' press release dated
July 24, 2019
) cross cutting a north-east magnetic lineament which
correlates with Grog. A historical boulder result had already indicated the possibility to find gold in
the area. To date, conglomerate facies and open space veining observed in the trench are similar
with those of Grog.
Michael Ferreira
, President and CEO of X-Terra Resources states "
This was an important step, as
it demonstrates the probability of identifying the bedrock source of additional gold showings in the
Grog property environment where the bedrock almost never outcrops. While the exact geometry
and extension of the
Bellevue
gold showing remains unknown, the geological team took note of an
important trend of arsenic and antimony towards Grog. An extensive follow up will be executed
based on soil geochemistry and trenching to generate additional drill targets moving forward. It is
also important to highlight, given gold anomalies up to 0.3 g/t Au further north, like on IP line L44,
and 3.7 kilometres south of Grog on IP line L7, we now have a 6 kilometres strike length of
confirmed gold mineralization in three prospects including that of Grog."
The trenching program realized followed the recent 57 kilometres IP survey recently done on the
Grog property (see X-Terra Resources' press release dated
July 24, 2019
):
Total of 11 trenches were completed, measuring from 10 metres all the way up to 230 metres
in length;
A geological mapping in addition to structural mapping was completed in all trenches; and
X-Terra Resources also collected more than 200 chip samples directly from the trenches, more
than 80 float samples, five till samples and two stream sediment samples.
After compiling all the data from the samples and trenches, X-Terra Resources has taken notice of
the distinct trends of arsenic and antimony anomalies as they are correlated with gold values. In
addition, X-Terra Resources is evaluating the epithermal model at Grog, it will continue using this
geological model in order to plan and direct the following exploration programs, which will be
concentrated on the characterisation and mapping of alterations, including the antimony-arsenic
anomalies that will be identified by geochemistry to ultimately define new drilling targets.
Outlook
A preliminary petrographic study and minerals identification is ongoing. Results are expected in the
coming weeks and will be published thereafter. In the meantime, X-Terra Resources is now planning
the following steps, which includes additional stripping and trenching over
Bellevue
to gain a deeper
understanding of the underlying system, in addition to a geochemical sampling program and detailed
airborne geophysical magnetic survey.
QAQC
Trench sampling was obtained by collecting manually the broken bedrock at the bottom of the
trenches at an approximate depth varying between 1 metre and 2 metres. Samples covered a
horizontal length of 1 metre in favorable geology contexts. The surrounding environment was covered
with 5 or 10 metres samples. Samples position were measured with a tape.
Samples were sent to AGAT Laboratories where they were dried and crushed to 75% passing 10
mesh (2mm) (Code 200001), split to 250g and pulverized to 85% passing 200 mesh (75μm).
Samples are then analyzed with Sodium Peroxide Fusion method (Code 201 378) with ICP-OES and
ICP-MS Finish (per sample). They are also analyzed for Gold by Fire Assay with ICP-OES (30g)
(Code 202052).
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
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 exploration programs and
development of the Grog Property, or if it does so, what benefits X-Terra Resources will derive
from the Grog 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 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's Annual Report for the fiscal year ended
December 31, 2018
, 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.
View original content:
http://www.newswire.ca/en/releases/archive/October2019/11/c0704.html
%SEDAR: 00035962E
For further information:
X-Terra Resources Inc. : Mr. Michael Ferreira, President & Chief
Executive Officer, 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone:
819-762-4101 | Fax: 819-762-0097, E-mail: [email protected], Website:
www.xterraresources.com
CO: X-Terra Resources Inc.
CNW 08:30e 11-OCT-19