ROUYN-NORANDA, QC, Oct. 11, 2019 /CNW Telbec/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that it
has completed its first stripping and trenching program at the Grog
and Northwest properties, both located in the Restigouche county in the province of
New Brunswick.
The program was initiated on the Grog property to follow up and
explore the high priority chargeability anomalies over two distinct
trends, both measuring over 9 kilometres following the McKenzie
regional strike slip fault (See X-Terra Resources' press release
dated July 24, 2019).
The geology of the area is known only from regional mapping and
is composed of sediment domains of the Appalachian fold and thrust
belt. The X-Terra Resources exploration team focused on defining a
pluri-kilometric dyke swarm associated with feldspathic and
argillic alteration halos, pyritization and open space quartz
veining and breccia.
The new discovery, the Bellevue
showing, returned a gold value of 2.24 g/t from a 1 metre chip
sample. The result was obtained from trenching at a depth of
approximately 2 metres in a weathered and oxidized bedrock. Given
the concealed nature of this oxidized bedrock, the team decided to
restrict the size of the trench until results were obtained. Given
that positive results have now been achieved, the Corporation can
now move forward with the following stripping program slated to
debut shortly, in order to properly evaluate the thickness, length
and orientation of the mineralized structure.
The new sampling area is located at 1.3 kilometres southwest of
Grog gold showing (See X-Terra Resources' press release dated
July 24, 2019) cross cutting a
north-east magnetic lineament which correlates with Grog. A
historical boulder result had already indicated the possibility to
find gold in the area. To date, conglomerate facies and open space
veining observed in the trench are similar with those of Grog.
Michael Ferreira, President and
CEO of X-Terra Resources states "This was an important step, as
it demonstrates the probability of identifying the bedrock source
of additional gold showings in the Grog property environment where
the bedrock almost never outcrops. While the exact geometry and
extension of the Bellevue gold
showing remains unknown, the geological team took note of an
important trend of arsenic and antimony towards Grog. An extensive
follow up will be executed based on soil geochemistry and trenching
to generate additional drill targets moving forward. It is also
important to highlight, given gold anomalies up to 0.3 g/t Au
further north, like on IP line L44, and 3.7 kilometres south of
Grog on IP line L7, we now have a 6 kilometres strike length of
confirmed gold mineralization in three prospects including that of
Grog."
The trenching program realized followed the recent 57 kilometres
IP survey recently done on the Grog property (see X-Terra
Resources' press release dated July 24,
2019):
- Total of 11 trenches were completed, measuring from 10 metres
all the way up to 230 metres in length;
- A geological mapping in addition to structural mapping was
completed in all trenches; and
- X-Terra Resources also collected more than 200 chip samples
directly from the trenches, more than 80 float samples, five till
samples and two stream sediment samples.
After compiling all the data from the samples and trenches,
X-Terra Resources has taken notice of the distinct trends of
arsenic and antimony anomalies as they are correlated with gold
values. In addition, X-Terra Resources is evaluating the epithermal
model at Grog, it will continue using this geological model in
order to plan and direct the following exploration programs, which
will be concentrated on the characterisation and mapping of
alterations, including the antimony-arsenic anomalies that will be
identified by geochemistry to ultimately define new drilling
targets.
Outlook
A preliminary petrographic study and minerals identification is
ongoing. Results are expected in the coming weeks and will be
published thereafter. In the meantime, X-Terra Resources is now
planning the following steps, which includes additional stripping
and trenching over Bellevue to
gain a deeper understanding of the underlying system, in addition
to a geochemical sampling program and detailed airborne geophysical
magnetic survey.
QAQC
Trench sampling was obtained by collecting manually the broken
bedrock at the bottom of the trenches at an approximate depth
varying between 1 metre and 2 metres. Samples covered a horizontal
length of 1 metre in favorable geology contexts. The surrounding
environment was covered with 5 or 10 metres samples. Samples
position were measured with a tape.
Samples were sent to AGAT Laboratories where they were dried and
crushed to 75% passing 10 mesh (2mm) (Code 200001), split to 250g
and pulverized to 85% passing 200 mesh (75μm). Samples are then
analyzed with Sodium Peroxide Fusion method (Code 201 378) with
ICP-OES and ICP-MS Finish (per sample). They are also analyzed for
Gold by Fire Assay with ICP-OES (30g) (Code 202052).
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 of the Grog Property, or if it does so,
what benefits X-Terra Resources will derive from the Grog 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 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's 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 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.