X-Terra Resources Begins 2020 Exploration Program on Troilus East
X-Terra Resources Begins 2020 Exploration
Program on Troilus East
ROUYN-NORANDA, QC
,
June 12, 2020
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
") is pleased to announce the commencement of its 2020 exploration
program on its wholly-owned Troilus East property on the underexplored Frotet-Evans greenstone
belt in northern Québec.
X-Terra Resources Begins 2020 Exploration Program on Troilus East (CNW Group/X-Terra
Resources Inc.)
X-Terra's Troilus East property is located adjacent to Troilus Gold's (TSX.V:TLG) Troilus Gold-
Copper project, on which 6.4 million oz AuEq measured and indicated mineral resources were
reported (source: NI 43-101 technical report entitled "Technical Report on the Troilus Gold-Copper
Project Mineral Resource Estimate,
Quebec, Canada
" dated December 20, 2019, prepared for
Troilus Gold Corp. by Roscoe Postle Associates Inc., available on Troilus Gold Corp's profile on
SEDAR at
www.sedar.com
).
With the recent increase in activity along the Frotet-Evans greenstone belt coupled with all the
success of Troilus Gold's work and recently announced
$22 million
bought deal financing (See
Troilus Gold press release dated
June 2, 2020
) there is no better time for X-Terra to start its
exploration program.
Michael Ferreira
, President and Chief Executive Officer of X-Terra states "with Troilus' numerous
surface discoveries including the high grade sample of 110 g/t Au, approximately one kilometre from
the J4 open pit (see Troilus Gold press release dated
December 4, 2018
), confirms the presence of
high grade gold in the area. The potential to identify new near-surface gold occurrences over X-
Terra's Troilus East property remains high".
The Troilus East property consists of 182 mining claims (93 km
2
) and covers, a distance of more
than 22 kilometres along the Frotet-Evans belt. It is also the most proximal land position to Troilus
Gold's Gold-Copper project at less than 2.5 kilometres. See map below:
The Troilus East property straddles a structural zone parallel to the Troilus Deposit. For a strike
length of about 20 kilometres, highlighted mostly by a mafic volcanic sequence which is interlayered
to elongated mafic to ultramafic intrusions. Historical governmental mapping programs have already
highlighted a prominent potassic alteration taking the form of biotite. In addition, more than 23
sulfides occurrences were documented during these mapping program which were completed by the
provincial government (Sigeom, Énergie et Ressources Naturelles Québec).
X-Terra's recent work on the Troilus East property includes a detailed magnetic survey flown at
75 metres spacing, 3D inversion VOXI modeling for magnetic intrusions, an electromagnetic survey
and a property wide till survey, where 72 of 78 samples have tested positive for gold grains, using
both visual evaluation and the ARTGold recovery technology by IOS Geoservices. Of the 283 gold
grains, a total of 71 have been classified as pristine, meaning that the location of the till samples in
which such gold grains have been recuperated is most likely located less than 500 metres from the
source of the gold sample.
Additional analysis was carried out over the samples that highlighted scattered platinum group
metals grains in the mineral concentrate of the tills, suggesting a possible link with mafic to
ultramafic intrusions common in the Troilus East structural corridor.
Outlook
X-Terra has mandated Technominex of
Rouyn-Noranda
to assist its team in undertaking the first
phase of work, which will focus on systematic prospecting and sampling of predetermined targets.
The exploration team will fly over the territory using a helicopter to maximize the program efficiency.
Manual outcrop stripping and channelling could also be completed depending on the presence of
mineralization. Depending on the results received, additional works such as an Induced Polarization
survey could be necessary before undertaking additional exploration work, including a first ever
diamond drill program.
In other news, X-Terra has put a temporary hold its work programs in
New Brunswick
due to
provincial government response to the recent increase in Covid-19 cases in the
Campbellton
region
zone 5, where the Grog and Northwest projects are located, which has led to significant restrictions
on non-essential travel in
New Brunswick
. X-Terra will be closely monitoring the provincial
government efforts in re-opening its inter-provincial borders.
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,
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) of the Troilus East, Grog and Northwest Properties,
or if it does so, what benefits X-Terra will derive from the Troilus East, 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'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, 2019
, 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.
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For further information:
X-Terra Resources Inc., Michael Ferreira, President and Chief Executive
Officer, 147 Québec Avenue, 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 08:00e 12-JUN-20