X-Terra Resources Begins the Second Phase of Drilling at the Rim Target on the Northwest Property in New Brunswick
X-Terra Resources Begins the Second Phase
of Drilling at the Rim Target on the Northwest
Property in New Brunswick
ROUYN-NORANDA, QC
,
Jan. 25, 2021
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
") is pleased to announce it has officially started drilling the Rim vein
target on the Northwest property located in Restigouche County,
New Brunswick
. The program will
consist of a minimum of 1,000 metres with holes ranging from 100-200 metres in depth.
The recently received drone magnetic survey results (see image below) have highlighted with
extreme detail numerous subtle structures that were non-existent when compared to the regional
magnetic survey.
Drone Magnetic Survey Coverage (CNW Group/X-Terra Resources Inc.)
The goal of this drill program is to follow up on previous drill results and bulk sampling done on the
RIM vein where a 5 to 10 metre cluster of gold bearing veins were intersected at approximately 50
metres under the RIM vein surface showing. In addition, the bench scale bulk sample on 129
kilograms and metallurgical recovery test done on the vein material at surface returned an average
grade of 79 g/t Au (see X-Terra press release,
December 15, 2020
). The first drill campaign which
comprised of 4 holes was completed in the fourth quarter of 2020. It is important to note that there
has only been 4 holes totalling 440 metres completed at this target.
The RIM high grade vein system is now strongly believed to be associated with a kilometric fold
hinge developed along a regional north to north-east shear system which is developed in sediments.
A previous till survey conducted by X-Terra in the fall of 2018 highlighted a series of positive results
located approximately 1.0 to 1.5 kilometres south of the RIM vein system. There is a strong belief
that the vein pattern is controlled by lithological contrasts, folding and possible minor faults. The new
detailed magnetic survey is an excellent illustration that provides X-Terra's geological team the ability
to detect and interpret the gold bearing structural pattern.
The current program will cover approximately 600 metres of strike length inside a north to north-east
kilometric fold hinge. Eight new holes are currently planned over high priority targets hosting
magnetic contrasts and with trends highlighting similarities with the RIM high grade showing
environment.
Michael Ferreira
, President and Chief Executive Officer of X-Terra, stated; "X-Terra's exploration
team and drilling crews are excited to commence the second phase of drilling at the Rim vein target,
but this time equipped with very precise magnetic data. Utilizing the detail from this magnetic survey,
our geological team has been able to better pinpoint the fold hinge and potential associated faults
and shear zones, which is believed to be controlling the high grade gold mineralization of the Rim
veins."
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.
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 Northwest Property, or if it does so, what
benefits X-Terra will derive from the Northwest 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'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.
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.
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For further information:
X-Terra Resources Inc., Michael Ferreira, President and Chief Executive
Officer147 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 08:58e 25-JAN-21