X-Terra Resources completes IP Survey at Grog; data highlights multiple priority anomalies relating to epithermal/porphyry targets
X-Terra Resources completes IP Survey at
Grog; data highlights multiple priority
anomalies relating to epithermal/porphyry
targets
ROUYN-NORANDA, QC
, July 24, 2019 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) is pleased to announce that on
June 26, 2019
it completed 57 line-km 2D
Induced Polarization (IP) survey over the Grog Property, located approximately 40 kilometres
southwest of the city of
Campbellton
in the province of
New Brunswick
. The Corporation has
received the interpretation of the survey data from MB Geosolutions and the survey identified
multiple high priority chargeability anomalies associated with known gold mineralization and
associated (epithermal/porphyry targets). In addition, preliminary observations over numerous
samples have highlighted the predominance of feldspathic alterations and/or rich in alunite
(potassium aluminum sulphate) developed in intermediate intrusions and clastic sediments. These
main features are commonly associated with mineralized epithermal systems located at the top of
porphyritic systems.
The IP data was acquired
between June 5 and June 26, 2019
and consisted of 16 lines for a total of
57 line-kilometres of data (see figure 1). Two distinct and important trends are visible with the
eastern trend of anomalies measuring 9.6 kilometres and the western trend measuring 9 kilometres.
Figure 1 (CNW Group/X-Terra Resources Inc.)
The IP data was acquired using 'dipole-dipole' configuration with dipole 'a' spacing of 25 metres. The
main objectives of this program were to map chargeability and resistivity responses that coincide
with known gold bearing mineralization and to delineate additional exploration targets highlighting the
same characteristics.
Highlights of the IP Survey
The reconnaissance lines completed on the northern part of the Grog Property allowed X-Terra
Resources to interpret a high density of IP anomalies, typically correlated with resistivity lows. As
such, it represents an interesting outcome in a sedimentary environment. In addition, this result also
enhances the interest in this area which is underlined by a large circular airborne radiometric
potassic anomaly, located slightly east of the Grog gold showing.
Line L41 highlights a significant IP chargeability anomaly which is extended on both sides (East-
West) for at least 600 metres and 450 metres (North-South). This particular anomaly is consistent
with known sulphide mineralization known as the Grog showing, a zone hosted by conglomerates
and consists of quarts veining, as well as breccias, and is rich in pyrite and arsenopyrite, as well as
gold. The best value obtained by X-Terra in this (antiform) was 2.94 g/t Au in a quartz breccia where
cavities are rich in pyrite and some minor stibnite. Furthermore, the Grog Property nor the Grog
showing have ever been drilled. See figure 2.
Figure 2 (CNW Group/X-Terra Resources Inc.)
L43, located 250 metres north of the Grog showing highlights a continuation of a large and
anomalous chargeability trend associated with gold values on surface See figure 3.
Figure 3 (CNW Group/X-Terra Resources Inc.)
Line 4, highlights another strong IP chargeability anomaly with low to moderate resistivity and is
located 800 metres to the south west of the Grog showing. This may indicate that the mineralized
system may extend to the south west by more than 800 metres.
Line 7, highlights once again a strong IP chargeability anomaly with low resistivity and this particular
anomaly is located 3.7 kilometres to the south west of the Grog showing. Sample #785111 recently
taken at surface in an attempt to explain and prioritize the anomaly returned 0.1g/t Au, 28.5 g/t Ag,
0.16% Cu. The sample itself was a grab sample of several small gossanous boulders in close
vicinity to an outcrop of intrusives. The intrusives are very similar looking to the intrusives at the Grog
Showing. Many other intrusive outcrops and boulders, as well as semi massive pyrite boulders and
argillic alteration were identified along 1.2 kilometre's of roads in this new area.
X-Terra Resources is now in the final planning stages of the stripping, trenching and drilling program
that it plans to undertake over the priority anomalies. The permit applications have been submitted
and received by X-Terra Resources and the field crews will be mobilized shortly. The complete IP
report and map highlighting the priority anomalies will be available on the X-Terra Resources'
website shortly.
Qualified Person
Alex MacKay
, P. Geo registered in the Provinces of
Nova Scotia
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.
Website:
www.xterraresources.com
SOURCE
X-Terra Resources Inc.
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For further information:
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]
CO: X-Terra Resources Inc.
CNW 08:43e 24-JUL-19