X-Terra Resources begins airborne geophysical survey on its Veronneau property
X-Terra Resources begins airborne geophysical survey on its Veronneau property
ROUYN-NORANDA, QC
, Feb. 2, 2017 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) reports that it has initiated an airborne
geophysical survey over the Veronneau property, recently optioned by X-Terra, located in the Eeyou Istchee/
James Bay
territory. SkyTEM Canada Inc. has been
engaged to conduct a 1,225 line kilometre airborne survey. SkyTEM will be utilizing its SkyTEM312 TDEM system to complete the survey over the next few
weeks. In addition,
Marc Boivin
from MB Geosolutions has been engaged as the geophysicist to interpret and verify the results as they become available.
The airborne survey is being performed along 100-metre spaced lines in order to obtain high resolution image quality of the geological features, along with
important information about the geological trends and rock signatures.
The objective of the airborne survey is to provide a modern geophysical database from which X-Terra Resources will generate numerous exploration targets to be
tested by a regional mapping and prospecting program planned for the summer of 2017, followed by diamond drilling in the latter half of 2017, if deemed
necessary.
Michael Ferreira
, X-Terra Resources President and CEO, commented: "We are very excited to have SkyTEM complete this high resolution airborne geophysical
survey. It will serve as an invaluable tool for X-Terra moving forward, especially where surface exposure is poor. Further, it will provide an excellent database from
which to design an effective exploration program and we are convinced
Michel Chapdelaine
will play an important role in his capacity as technical advisor to X-
Terra Resources."
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in
Canada
. X-Terra Resources currently has
15.2 million common shares issued and outstanding.
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
development of the Property, or if any of them do so, what benefits X-Terra Resources will derive. 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, 2015, 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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/02/c2078.html
%SEDAR: 00035962E
For further information:
X-Terra Resources Inc., 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 11:08e 02-FEB-17