X-Terra Resources Mobilizes IP Geophysics Team to Troilus East
X-Terra Resources Mobilizes IP Geophysics
Team to Troilus East
ROUYN-NORANDA, QC
,
March 15, 2021
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
") is pleased to announce that the line cutting and IP geophysics team
have mobilized to its 100% owned, 92 square kilometre Troilus East property located on the Frotet
Evans greenstone belt, located approximately 130 kilometres north of the town of
Chibougamau
,
Québec.
The program will cover three unique grids, including the new mineralized system discovered this past
summer (See X-Terra press release dated
August 13, 2020
), with the goal of adding additional
precision to the drill targets for a drill program to be launched shortly thereafter.
These three high priority targets are located about three kilometres east of the Troilus deposit
(Troilus Gold, TSX: TLG) following the southwestern side of the property. The 2.2-kilometre-long
target is based on the discovery by surface exploration of a polymetallic signature (Cu, Ag, Au, W).
The mixed sequence of intermediate volcanic interlayered with dioritic intrusions identified in this area
shares many similarities with Troilus gold's deposit.
X-Terra Resources Mobilizes IP Geophysics Team to Troilus East (CNW Group/X-Terra Resources
Inc.)
* Refer to Troilus Gold's NI 43-101 Technical Report dated
October 14, 2020
with an effective date
of
August 31, 2020
and entitled "Preliminary Economic Assessment of the Troilus Gold Project,
Quebec, Canada
", available on Troilus Gold's SEDAR profile at
www.sedar.com
.
Michael Ferreira
, President and Chief Executive Officer of X-Terra, stated; "We have been looking
forward to this next step since receiving the results of our geochemical sampling program. It now
brings X-Terra one step closer to the inaugural drill program at Troilus East and with the recent
exploration success of Kenorland Minerals and most recently of Troilus Gold, it keeps shedding light
on the vast possibility of additional gold occurrences along the underexplored greenstone belt. This
survey will enable X-Terra to add precision to the drill targets in the upcoming drill program".
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 Troilus East Property, or if it does so, what
benefits X-Terra will derive from the Troilus East 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
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 13:42e 15-MAR-21