Xtierra Inc.-Bilbao Drilling & Feasibility Study Update
03 February 2012 - 2:55AM
Marketwired Canada
Xtierra Inc. (TSX VENTURE:XAG) ("Xtierra" or the "Company"), is pleased to
provide an update on a drilling programme being carried out on its Bilbao
project in the State of Zacatecas, Mexico. The planned 2,500 metre programme
comprising six holes of NQ core drilling commenced on November 19, 2011 with a
three week break over Christmas. To the end of January 2012, approximately 1,400
metres had been completed in 3 holes with a fourth hole in progress and
analytical results received for holes X-96 and X-100.
The drilling is designed to test a zone of high grade silver veins and
silver-enriched, brecciated, manganiferous limestone encountered in an earlier
drill programme carried out in 2011 (refer earlier press releases). The zone of
enriched silver mineralisation associated with the brecciated limestone occurs
at a depth of about 200 metres lying beneath about 100 metres of sedimentary and
volcanic rocks, capped by basaltic flows and situated immediately above the
often skarnified contact with the La Blanca granite batholith. The
mineralisation appears to be strataform with the limestone stratigraphy and has
a currently known areal extent of about 300 metres by 200 metres but remains
open in three directions as well as to depth.
Hole X-96 has intersected a 5.1 metre (true thickness) zone from 227.45 metres
to 232.55 metres with an average grade of 373.0g/t silver and has effectively
extended the mineralised zone by a further 110 metres to the south of that
previously delineated. Hole X-100, located about 75 metres to the southeast of
X-96 encountered higher grade but narrower intersections of silver
mineralisation, including 810.0g/t silver over 1.0 metre, as well as a 5.0 metre
intersection averaging 31.7 g/t silver from 281.0 metres to 286.0 metres.
The zone of silver mineralisation remains open to the southwest, south and east
and is situated approximately 200 metres to the south of the main Bilbao
silver-lead-zinc deposit upon which DRA Americas is completing a bankable
feasibility study on behalf of Xtierra. The drilling is ongoing and will be
expanded to fully evaluate the additional resource potential and to determine
the relationship of the high grade silver zone with the main Bilbao
silver-zinc-lead-copper deposit.
Commenting on the drilling results, Xtierra's President and CEO, Terence
McKillen, said, "We continue to see potential for increasing the resource base
at Bilbao and will continue the drilling programme to test the limits of the
mineralising systems. In the meantime, significant progress has been made with
respect to the metallurgical test work and other component parts of the ongoing
feasibility study which we expect to be completed by mid-year."
Analytical Method
Samples from half-core were prepared at the Stewart Group laboratory in
Zacatecas and initially analyzed for 38 element content using ICP-MS
(inductively coupled plasma - mass spectrometry) by the Stewart Group (Eco-Tech
Laboratory) in Kamloops, British Columbia. Values exceeding the limits of
detection are automatically re-analyzed by Fire Assay or Atomic absorption
spectrometry (AAS) methods respectively. Standards and blanks were used
regularly for quality control.
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Hole X-96
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From (m) To (m) Width (m) Ag (g/t) Au (g/t) Pb (%) Zn (%) Cu (%) Mn (%)
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216.95 218.00 1.05 75.00 - 0.03 0.11 0.01 0.92
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218.00 219.00 1.00 33.70 - 0.11 0.10 0.01 1.39
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219.00 220.00 1.00 18.35 - 0.01 0.02 - 1.38
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220.00 221.00 1.00 74.00 - 0.01 0.03 - 1.32
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216.95 221.00 4.05 50.60 - 0.04 0.04 0.01 1.25
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227.45 228.00 0.55 126.00 0.01 0/09 0.07 0.01 3.04
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228.00 229.00 1.00 615.00 0.01 0.21 0.21 0.03 4.38
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229.00 230.00 1.00 454.00 0.01 0.12 0.16 0.02 4.25
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230.00 231.00 1.00 273.00 0.02 0.06 0.09 0.01 4.59
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231.00 232.00 1.00 163.00 0.01 0.05 0.13 - 4.61
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231.00 232.55 0.55 592.00 0.03 0.30 0.05 0.02 2.08
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227.45 232.55 5.10 372.53 0.07 0.13 0.13 0.02 4.05
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242.50 243.00 0.50 66.30 - 0.05 0.17 - 0.04
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243.00 244.00 1.00 59.70 0.01 0.04 0.14 0.01 0.02
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242.50 244.00 1.50 61.90 - 0.04 0.15 0.01 0.26
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Hole X-100
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From (m) To (m) Width (m) Ag (g/t) Au (g/t) Pb (%) Zn (%) Cu (%)
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221.40 221.95 0.55 31.10 0.03 0.15 0.32 0.01
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225.00 226.00 1.00 810.00 0.03 0.22 0.29 0.03
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256.70 257.00 0.30 56.70 - 0.17 0.14 -
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271.80 272.25 0.45 101.00 0.12 0.05 2.32 0.96
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281.00 282.00 1.00 36.90 - - 0.05 1.13
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282.00 282.90 0.90 31.90 0.12 0.03 3.28 0.86
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282.90 283.75 0.85 6.30 - 0.01 0.09 0.06
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283.75 284.25 0.50 18.10 0.10 0.01 0.12 0.52
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284.25 285.00 0.75 57.20 1.30 0.07 0.02 0.08
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285.00 286.00 1.00 35.70 0.19 0.13 0.10 0.03
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281.00 286.00 5.00 31.70 0.27 0.04 0.65 0.46
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328.55 329.00 0.45 34.70 0.01 0.91 0.99 0.11
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335.00 336.00 1.00 67.40 0.05 0.10 0.05 0.01
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Feasibility Study
In July 2010, Xtierra retained Dowding, Reynard and Associates (DRA Americas), a
recognized leader in the field of mine design, mine engineering, mineral process
design, project management and mine construction to oversee and complete the
Bilbao Feasibility Study. DRA is involved in oversight of all of the component
parts of the feasibility study. DRA is managing the metallurgical test work
associated with the near-surface oxide ore as well as the sulphide and
sulphide/oxide (mixed) ores. Golder Associates have been retained to advise on
tailings disposal design work.
Preliminary mine plans for the proposed open pit and underground areas have been
completed and a 3D modelling analysis of the underground design has been
commissioned. This analysis will serve to provide optimum stope dimensions
resulting in safer and more stable ground conditions. Geotechnical, hydrogeology
and electrical power distribution infrastructure studies have been completed.
Final tailings management design and the completion of the environmental impact
study (EIS) require completion of metallurgical test work providing all the
necessary input data.
Metallurgical test work of the past 12-18 months has been dominantly focused on
the definition and optimisation of a flow sheet for the near surface oxide
portion of the deposit with good technical success in terms of extraction of the
contained zinc, copper and gold but requiring further work to optimise the
recovery of lead and silver. More recently, test work has focused on the
flotation flow sheet for the sulphide and mixed sulphide-oxide (Transition)
mineralisation. Final locked cycle test work is expected to be completed by the
end of this month producing the necessary data inputs for final tailings
disposal design, EIS and preliminary economic assessment.
Qualified Person
Information of a scientific or technical nature contained in this release has
been prepared by or under the supervision of Terence N. McKillen, P.Geo., Chief
Executive Officer, Gerald J. Gauthier, P.Eng., Chief Operating Officer and Dr.
Anthony C. Gallon, C.Eng., Chief Geologist, all 'Qualified Persons' within the
meaning of National Instrument 43-101 - Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators.
About Xtierra Inc.
Xtierra Inc. is a Toronto based exploration and development company listed on
the TSX Venture Exchange under the symbol "XAG". There are 103,272,142 shares
issued and outstanding. The Company is completing a feasibility study on its
Bilbao silver-zinc-lead-copper project in Zacatecas, Mexico. Xtierra's objective
is to become a mid-tier producer of precious and base metals through the
development of its Bilbao project as well as through exploration, organic growth
and M & A opportunities.
For further information visit www.xtierra.ca.
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