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.
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.
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).
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.
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.
For further information: X-Terra Resources Inc. : Mr. Michael Ferreira, President & Chief Executive Officer, 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101 | Fax: 819-762-0097, E-mail: [email protected], Website: www.xterraresources.com