X-Terra Resources Increases its Ongoing Drill Program Over its High Priority Targets on the Grog and Northwest Properties
X-Terra Resources Increases its Ongoing Drill
Program Over its High Priority Targets on the
Grog and Northwest Properties
ROUYN-NORANDA, QC
,
Jan. 22, 2020
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) is pleased to announce that it has increased the overall size of the ongoing drill
program over its high priority targets on the Northwest and Grog properties located in
Restigouche
county,
New Brunswick
. The drilling was kicked off over the Northwest vein system at the Trench 26
target situated in an orogenic quartz vein mineralized environment (see press releases dated
January 7, 2020
and
January 13, 2020
for details). At the Trench 26 target location, significant
networks of quartz veins can be observed over pluri-metric intervals hosted in a carbonate-chlorite
alteration zone.
Based on the success and observations in the field, X-Terra Resources has decided to add
additional holes to certain targets in order to gain a better understanding of the underlying geological
system and mineralized corridors. The drill team has just completed drilling the Dyke swarm target
where the omnipresent sulphides, brecciation and alterations observed downhole highlights the
epithermal characteristics X-Terra Resources was hoping for. One of the targeted alteration zones
encountered in hole number 4 extends from 22 metres down to 38 metres. The upper part of the
alteration zone was lost as part of the casing. Additional holes should help to establish geometrical
parameters such as orientation and thickness.
Michael Ferreira
, President and Chief Executive Officer of X-Terra Resources states, "We are very
happy to see early success in this drill program. Our main focus will be to continue drilling the high
priority targets while ultimately trying to connect Grog to
Bellevue South
/North which currently has a
mineralized footprint of 1.4 kilometres".
Qualified Person
Jeannot Théberge, P. Geo registered in the Provinces of Québec 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 (including any drilling programs) of the Grog and Northwest Properties, or if it does
so, what benefits X-Terra Resources 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 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, 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 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.
Website:
www.xterraresources.com
SOURCE
X-Terra Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/January2020/22/c3564.html
%SEDAR: 00035962E
For further information:
X-Terra Resources Inc.: Michael Ferreira, President and 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 09:00e 22-JAN-20