X-Terra Resources Drills Longest Gold Intercept on Grog Project to Date
X-Terra Resources Drills Longest Gold
Intercept on Grog Project to Date
ROUYN-NORANDA, QC
,
Feb. 17, 2021
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
") is pleased to announce the results of the Grog drilling program
which was carried out in the fall of 2020. The primary objective was to begin defining the geometry
and extension of the Grog showing and to identify new peripheral mineralization zones towards the
definition of a large epithermal gold system.
Prior to this drill program the Company has carried out exploration activities that support the
presence of a large epithermal gold system on the Grog Project, including the discovery hole GRG-
20-012 which intersected a mineralized interval of 0.41 g/t Au over 36 metres (See X-Terra press
release dated
May 5, 2020
for more information). Further data integration and modeling was
completed using structural observations from trenches, drilling data, and geophysical patterns
generated by magnetic and IP surveys. In addition, a geochemical sampling program completed
prior to this drill program, outlined a two square kilometre arsenic anomaly very closely aligned with
the known extent of the sandstone and quartz pebble conglomerate Grog sequence.
The drill program was completed following an East-West grid to follow up on the primary gold and
arsenic soil anomalies which overlay important structural trends. The drilling grid covered
approximately one kilometre from north to south while using a minimum step out space of 50 metres
where appropriate. The holes reached vertical depths ranging from 115 metres to 180 metres.
GRG-20-29 returned the longest gold bearing intercept on the Grog project to date (See Table 1 for
complete drill results). Cross-cutting the Grog sequence it returned 0.29 g/t Au over 52.75 metres.
The hole cross-cut a mineralized sequence over 53 metres, cross cutting the Grog sequence
following a south to south-west orientation. The aim of the hole was to cut the Grog sequence on a
perpendicular axis to test the width of the mineralization trend. The gold mineralization can now be
correlated to visual observations such as the density of fractures, faults zones, and the presence of
areas where disseminated sulfides occur.
It is becoming clear that the gold zone is closely associated with a carbonate and clay altered
sandstone. Alteration is the result of hydrothermal stockwork and brecciation that have been
reworked by regional deformation. The mineralized zones are characterized by open space filling of
quartz-carbonate. Sulfides, mainly pyrite and arsenopyrite are abundant, taking the form of both
disseminated and replacement of host rocks. In addition, some narrow veins of stibnite have been
observed.
Michael Ferreira
, President and Chief Executive Officer of X-Terra stated; "This is a big step
forward in our understanding of the Grog mineralized system. With the new information gained, our
geological team has a clearer understanding of the mineralization trends. We are now actively
modeling these trends to generate higher probability targets of higher-grade mineralization. To date
there has only been 19 drill holes at the Grog target, including 16 from this program. The
identification of a second wide gold bearing interval at this early stage reinforces the confidence that
a large epithermal gold system is present on the Grog Project."
"Additionally, we would like to thank our shareholders for their patience during the long turn-around
time for these results. Labs continue to be overwhelmed by the volume of samples from a busy
industry along with the ongoing complications brought on by the COVID 19 pandemic.
X-Terra also wants to report that upon reception of these results, our systematic sampling of non
mineralized rock has identified multiple zones grading up to 2.19 g/t Au which have not been sampled
on either side along the hole. These samples are currently being cut and will be sent to the lab as
soon as they are ready."
Table 1 – 2020 Drill Results
Hole ID
From
(m)
To
(m)
Length
(m)
Au
(g/t)
GRG-20-15
40.30
45.05
4.75
0.26
47.80
51.80
4.00
0.20
GRG-20-17
45.05
45.55
0.50
2.19
GRG-20-23
9.50
14.00
4.50
0.26
108.50
110.00
1.50
0.96
116.00
121.50
5.50
0.61
GRG-20-29
115.25
168.00
52.75
0.29
115.25
121.00
5.75
0.37
125.40
135.00
9.60
0.60
Incl.
127.50
128.15
0.65
2.21
138.00
138.50
0.50
1.79
148.50
168.00
19.50
0.28
Map enclosed illustrates the position of drill holes, main results and targets model.
Grog Target (CNW Group/X-Terra Resources Inc.)
QA/QC
X-Terra Resources adheres to a strict quality assurance and quality control program with regard to
core handling, sampling, transportation of samples and lab analyses. Samples selected for assay
were shipped via secure transportation to the Techni-Lab (S.G.B. Abitibi Inc.) preparation facility in
Ste-Germaine Boulé, QC. samples were assayed for gold by standard fire assay on 30-gram
fractions with atomic absorption (TMT-G5B) or gravimetric finish (TMT-G5C) at Techni-Lab (S.G.B.
Abitibi Inc.). In addition, the quality control protocol includes insertion of blank or standard every 10
samples on average, in addition to the regular insertion of blank, duplicate and standard samples
accredited by Actlabs during the analytical process.
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 Grog and Northwest Properties, or if it does so,
what benefits X-Terra will derive from the 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.
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
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 17-FEB-21