X-Terra Resources Drills New Gold Discovery at Grog Property in New Brunswick
X-Terra Resources Drills New Gold Discovery
at Grog Property in New Brunswick
ROUYN-NORANDA, QC
,
May 5, 2020
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
") is pleased to announce it has drilled a new gold bearing structure
at the Grog target on the Grog Property located in
Restigouche
county,
New Brunswick
. The
mineralization style continues to highlight strong characteristics of an epithermal system.
Hole GRG-20-012 identified gold ("
Au
") mineralization over a significant width with one interval of
0.41 g/t Au over 36 metres along the hole, which includes 0.46 g/t Au over 31 metres and includes
7.59 g/t Au over 0.6 metres located at a vertical depth of 81 metres under the Grog showing.
Michael Ferreira
, President and Chief Executive Officer of X-Terra states, "This is a significant
exploration breakthrough on a property that's never been drilled and reinforces our expectations that
a large epithermal system is present. While more in-depth geological work, which includes drilling is
needed, X-Terra's management believes that the 11 holes (1,499 metres drilled) only covered a very
small fraction of the targeted environment. Reaching a significant mineralized interval this shallow
(from 107 metres to 143 metres, in GRG-20-012) is a milestone we were relentlessly pursuing after
completing the limited field exploration programs based predominately on roadside trenching. The
information obtained in this program will allow the detailed follow up on the Grog target but also
allow X-Terra to refine and generate more high priority targets carrying the same geological
characteristics to that of the Grog target. This provides a monumental shift moving forward."
Adding these results and data to our database has resulted in the hypothesis that, hole GRG-20-012
may have cross-cut a north to north-east oriented lens. Strong intercept angles of mineralized quartz
veins observed along the core suggest we are close to true thickness. Significant additional drilling
will be required to define the exact dip and plunge of the mineralized lens and the true width and
extent of this discovery.
The series of 11 holes is split into three clusters comprising of three to four holes distributed over a
target area of about 1.6 kilometres following the North-East regional trend associated with the
McKenzie Gulch regional fault.
Targets
Best Results
DIP
(
o
)
Azimuth
(
o
)
Location
Characteristics
Grog:
Sequence of sandstone, conglomerate and mudrock cross-cut by sedimentary
breccia, faults, feldspathic dykes.
Strong argilization, pyritization and veins stockworks. Silicification. Local
arsenopyrite
GRG-20-
011
0.13 g/t Au over 1.15 m (from 90.45 m to
91.60 m)
-54
270
E653395
N5293149
GRG-20-
012
0.41 g/t over 36 m (from 107 m to 143 m)
including:
0.46 g/t Au over 31 m
(from 107 m to
138.05 m), and including:
7.59 g/t Au over 0.6 m (from 137.45 m to
138.05 m)
-49
270
E653320
N5293194
GRG-20-
013
0.57 g/t over 5 m (from 162 m to 167 m)
-48
270
E653504
N5293202
Bellevue
North
:
Sequence of sandstone, conglomerate and mudrock. Cross cut by sedimentary,
breccia, faults, feldspathic and mafic dykes
Carbonate-sericite alteration.
Quartz-carbonate veinlets stockworks with pyrite dissemination. Local
arsenopyrite.
GRG-20-
003
0.11 g/t Au over 2.85 m (from 46 m to 48.85
m)
-53
255
E652820
N5292629
GRG-20-
004
0.35 g/t over 1.5 m (from 165.5 m to 167 m)
-53
255
E652891
N5292613
GRG-20-
005
0.01 g/t Au over 15 m (from 9 m to 24 m)
-55
255
E652889
N5292493
GRG-20-
010
0.01 g/t Au over 96.5 m (from 4.5 m to 101
m)
-55
270
E652947
N5292624
Bellevue
South:
GRG-20-
006
No significant value
-56
360
E652791
N5292165
Mudrock, wacke.
Local disseminated pyrite, arsenopyrite in quart-carbonate veinlets stockworks.
GRG-20-
007
0.13 g/t over 1.1 m (from 12 to 13.1 m)
-54
360
E652708
N5291922
GRG-20-
008
0.11 g/t Au over 1 m (from 17 to 18 m)
-47
360
E652704
N5291960
GRG-20-
009
No significant value
-53
360
E652772
N5291916
HIGHLIGHTS FROM HOLE GRG-20-012 and GRG-20-013
Hole ID
From
(m)
To
(m)
Length
(m)
Au
(g/t)
GRG-20-012
107.00
143.00
36
0.41
Including
107.00
138.05
31.05
0.46
Including
114.50
117.50
3.00
1.01
Including
125.00
128.00
3.00
0.72
Including
137.45
143.00
5.55
0.92
GRG-20-013
86.65
97.00
10.35
0.08
162.00
167.00
5.00
0.57
Hole GRG-20-012
: The mineralized interval is included in a clay rich and carbonate alteration zones
centered on a complex sedimentary breccia which includes graphitic slivers. Hydrothermal and
alteration are developed mostly in porous sandstone and fine grain conglomerates. The pervasive
and intense alteration seems composed mostly of clay mineral assemblages in association with
carbonate, in addition to the quartz veining with open space filling and geodic textures. The
associated sulfides assemblage composed of pyrite, arsenopyrite and marcasite (a low temperature
type of iron sulfide) is mostly finely disseminated with percentage in volume increasing locally from
less than 1% to 10% over metric intervals.
Hole GRG-20-013:
Collared 185 metres to the east has also cut a sequence of anomalous gold
intervals with as best result
0.57
g/t Au over
5
metres. Mineralization is hosted in a similar context
when compared to GRG-20-012. Another type of mineralization was also observed between 86,65
and 97 metres along the hole under the form of a pale yellow strongly argilized dyke of intermediate
composition. The unit returned 0.08 g/t Au over 10.35 metres, including 0.14 g/t over 4 metres,
associated with finely disseminated pyrite and arsenopyrite.
Further drill intercepts obtained over the Bellevue North area highlighted similar characteristics with
the drill holes completed over the Grog showing, such as the argillic alteration and the conglomerate-
sandstone assemblages, locally affected by breccia. In this context, fracturing is mostly filled with
quartz-carbonate veinlets instead of the quartz dominated ones as observed at Grog. Bellevue North
is located about 600 metres south of Grog. These intervals demonstrate and reinforce the possibility
that they were drilled on the periphery of a similar mineralized trend.
Outlook
The detailed interpretation on a larger scale of all information gathered is ongoing and will provide
the spatial orientation of the mineralized trend. X-Terra's recently completed detailed airborne
magnetic and ground IP survey are being used to compare the drilling results and surface data in
order to distinguish and model additional exploration and drill targets. Thus far, by using the surface
exploration data, drilling results and the improved 3D inversion mag model, which allows X-Terra's
team to carefully interpret rock units and structures down to a vertical depth of 300 metres. X-Terra
has been able to identify 12 new exploration and drilling targets carrying similar geological
characteristics. Based on what X-Terra now knows, the principal structure underlying gold
occurrences corresponds to an area of about two kilometres by three kilometres and the individual
targets identified within, correspond to twelve 500 metres segments highlighting varied orientation
depending on local structural geometry.
While X-Terra now has a firm grasp, it will continue evaluating and understanding the geological
sequence that is triggering the gold deposition process, the structural relations and controls within
the Grog environment. The next phase of work will consist of substantiating the key geological
characteristics of the Grog target over these newly identified targets that are all located within the
interpreted hydrothermal epithermal system.
Newly updated maps will be available on X-Terra's website very soon.
QA/QC and Drilling Contract
X-Terra 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.
Some samples were sent to AGAT Laboratories where they were dried and crushed to 75%
passing 10 mesh (2mm) (Code 200001), split to 250g and pulverized to 85% passing 200 mesh
(75μm). Samples are then analyzed with four acid digest method (Code 201 070) with ICP-OES and
ICP-OES Finish (per sample) for arsenic and silver. They are also analyzed for Gold by Fire Assay
with ICP-OES (30g) (Code 202052).
X-Terra has hired the Logan Drilling group based out of
Stewiacke
in
Nova Scotia
. The hole
diameter is NQ. Drilling took place from
January 25 to February 21, 2020
.
Grog and Northwest Properties
X-Terra has an option to acquire a 70% interest in the Grog Property and Northwest property (see
press releases dated April 22, 2019 and
April 30, 2019
).
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 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,
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.
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.
View original content:
http://www.newswire.ca/en/releases/archive/May2020/05/c9367.html
%SEDAR: 00035962E
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 07:00e 05-MAY-20