ROUYN-NORANDA, QC, Oct. 15, 2020 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra")
is pleased to announced it has commenced a strategic MMI, humus and
till sampling program over 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 (5) unique grids, including the new
mineralized system discovered this past summer, (See X-Terra press
release dated August 13, 2020), with
the goal of identifying drill targets for a program to be launched
later this year.
The highest priority target is 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 the Troilus deposit.
The four other sampling grids are distributed over a north-east
structural corridor covering a strike length of approximately 13
kilometres. Targets were identified through a previous till survey
using recovered gold grains. Despite the historical two kilometres
spacing between lines, the systematic location of gold grain counts
adjacent to strong magnetic contrasts can be considered as an
indicator of a gold bearing structure.
This past summer's surface exploration program showed that the
targeted areas had limited outcrops such that additional sampling
techniques need to be employed. Accordingly, X-Terra plans to
create a local dispersion train signature by increasing till
sampling density to assess these targets for eventual drilling. The
use of high-density soil sampling should enable the identification
of locations where mineralization is more likely to occur at the
surface where outcrops are very scarce.
Michael Ferreira, President and
Chief Executive Officer of X-Terra, stated; "The Frotet-Evans belt
has see a flurry of activity lately. The recent exploration success
of Kenorland and most recently of Troilus Gold, which keeps
shedding light on the vast possibility of additional gold
occurrences along the underexplored greenstone belt. This survey
will enable X-Terra to focus on key areas of the property that have
highlighted encouraging results and will serve as a stepping stone
to the next phase of exploration, which will include Troilus East's
maiden drill program scheduled for later this year. We now have two
simultaneous exploration programs underway with the ongoing drill
program at the Grog and Northwest properties in New Brunswick, which will provide a great deal
of news in the coming months".
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 and the Troilus East property, or if
it does so, what benefits X-Terra will derive from the Grog and
Northwest Properties and 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.