X-Terra Resources Provides an Update on Grog and Northwest Properties
X-Terra Resources Provides an Update on
Grog and Northwest Properties
ROUYN-NORANDA, QC
,
July 15, 2020
/CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("
X-Terra
") is pleased to announce it has received all the necessary work
authorization permits to continue with its exploration and drilling over the Grog and Northwest
properties located in
Restigouche
county,
New Brunswick
.
X-Terra has also been awarded a
$35,000
grant under the New Brunswick Junior Mining Assistance
Program. Plans are being finalized to carry out a detailed geochemical sampling survey over the
Grog target in addition to a detailed ground IP survey. The surveys are expected to being shortly,
which will be financed in part by the grant recently awarded.
The objective of this program is complementary to the winter drilling program which resulted in the
new gold discovery of 0.46 g/t Au over 31 metres in hole GRG-20-012 (see X-Terra's press release
dated
May 5, 2020
). This continuous gold interval was obtained at a vertical depth of 81 metres in
an area where trenching had already delivered sporadic results. This achievement for an inaugural
program was convincing enough to cover the area with additional preparatory works while targeting
specific objectives.
Discern the deposit signature
. The combination of IP ground geophysics with soil
geochemistry is expected to highlight the correspondence between conductor zones associated
with a higher fraction of sulfides and known soil Au-As-Sb signatures.
Extending the surface footprint of the Grog showing
: Current exploration, which includes a
past soil survey, identified a number of anomalies scattered over an area measuring
approximately 1 X 2 kilometres.
Confirming parallel structures to Grog
. Further interpretation of the 2019 detailed magnetic
survey identified distinct parallel magnetic contrasts that followed a north-east orientation. The
Grog showing follows one of these trends and corresponds to a soil anomaly. To date, no
follow up has been done on the other trends.
The IP survey planned will cover the defined area of two square kilometres (2 km
2
) centered on the
Grog showing using an overlapping pattern of 1-kilometre long lines following an average spacing of
200 metres. Approximately 5.5-line kilometres will seek to expand and highlight more detail of the
mineralized structure already identified in addition to its NE-SW extensions for follow up drilling.
The detailed geochemical sampling program will comprise of approximately 108 samples collected
at 25 metre spaced intervals over 2.6 line kilometres on both sides of Grog showing, maintaining a
spacing of 200 metres This type of survey will seek to again highlight and confirm parallel structures
to Grog hosting a similar Au-As-Sb signature.
Michael Ferreira
, President and CEO of X-Terra commented: "This is an exciting step for our team
as we will be able to move forward while we wait for our Troilus East samples to come back from
the lab. Receiving this grant will allow us to improve our targeting ability along the newly identified
gold bearing structure and increase the assurance for the drill targets carrying the same
characteristics of Grog.
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 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 Troilus East and/or the Grog and Northwest
Properties, or if it does so, what benefits X-Terra will derive from the Troilus East and/or 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/July2020/15/c5075.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 06:00e 15-JUL-20