X-Terra Resources Announces New Discovery, Expands the Bellevue Showing and Plans its Inaugural Drill Program
27 Nov, 2019, 09:00 ET
ROUYN-NORANDA, QC, Nov. 27, 2019 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that it received new results from a second trenching program completed on the Grog and Northwest properties, both located in the Restigouche county in the province of New Brunswick.
New results extend the Bellevue showing previously described in the X-Terra's Press Release (October 10, 2019). The Bellevue showing now extends about 1.4 kilometres southward of the initial Grog showing.
- 7 trenches totalling 130 metres were completed at a regular spacing of 20 metres along a 100 metres trend to test the gold mineralization continuity. Individual trench lengths vary between 9 and 42 metres.
- 76 chip samples were taken at spacing between 1 and 7 metres representing the structural limits.
- Best result obtained is 0.33 g/t over 10 metres of apparent thickness in trench 14. Higher values of up to 1.79 g/t over 1.5 metres in trench 15, is associated with open space quartz veining and disseminated arsenopyrite.
- Gold mineralization is associated with silica-clay replacement in porous sandstone and conglomeratic units generally affected by shearing and faults. Alteration halos spread over 5 to 15 metres centered on gold values. Unlike the Grog no intrusion has yet been observed.
- Located About 500 metres north of Bellevue and 800 metres south of Grog (See Figure 1 below), trench TR-20 intercepted a strong deformation system in a similar environment. Gold values were obtained over the entirety of the 151-metre trench. In addition, three results of 0,3 g/t over 5 metres, 0,4 g/t and 0,8 g/t over 2 metres were obtained within a 65-metre interval. These results were located in conglomeratic units where argillic, pyrophyllite and feldspathic alteration were observed.
- X-Terra Resources also completed two trenches over the Northwest property, located two kilometres west of the Rim vein, to confirm the presence of a fourth gold bearing quartz vein, namely the Lavoie showing, where new results up to 4.5 g/t Au were obtained. In addition, a second trench was completed 60 metres to the south where another gold bearing quartz vein was discovered and returned 0.35 g/t Au over 1 metre.
Figure 1 (See PDF file)
Sporadic gold anomalies have been systematically associated with arsenic enrichment inside the gold bearing corridor measuring about 6 kilometres which follows a near north-south trend with transversal influence of about 1 kilometre.
Inside or close to this trend, several trenches were completed following the network of forestry roads where a shallow bedrock contact was expected. Additional float samples were also collected.
In parallel, the till survey recently completed covered most of the Grog and Northwest properties, to identify new potential gold mineralization footprints hidden by the surface sediments. 348 samples were collected at 200 metres spacing along 2 kilometres widely spaced lines. (See figure 2 below)
Figure 2 (See PDF file)
2019 trenching program was essential to obtain a visual contact with gold mineralization and help identify geological controls in terms of key lithologies, alteration and structures. The near complete lack of outcrop requires the use of surface geochemistry to identify gold mineralization footprints.
X-Terra Resources will produce before the end of the year a geological interpretation along with its initial drill targets scheduled to begin in early 2020.
Michael Ferreira, President and CEO of X-Terra Resources states "The new sampling results confirm the strength of the mineralized system in and around the Bellevue and Grog environment. Furthermore, the detailed geological knowledge obtained to date has allowed the geological teams to begin targeting initiatives for the inaugural drill program scheduled to begin in early 2020".
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]
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