ROUYN-NORANDA, QC, Nov. 13, 2019 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that it has entered into a strategic collaboration with the University of New Brunswick. This arrangement includes research and development work with Dr. David Lentz, Ph D, P. Geo, UNB's Research Chair in Economic Geology.
Dr. Lentz has extensive research experience in understanding the evolution of ore deposits of New Brunswick, including in the Bathurst mining camp. His current interests are concentrated on the relationship between the evolution of fertile granite emplacement and associated porphyry and skarn systems hosting copper-molybdenum-gold and tin-tungsten-molybdenum-gold mineralized systems.
Thus far, the Grog and Northwest properties under option by X-Terra Resources have highlighted epithermal hydrothermal gold mineralization in a geological environment distinctive from other orogenic gold-bearing quartz veins systems identified in the region. The geological teams recent field work has been focusing on the extensive porphyritic dyke swarms spatially related to the regional McKenzie Fault to track gold mineralization.
Michael Ferreira, President and CEO of X-Terra Resources states, "We are very happy to be working with Dr. Lentz and his research team at the University of New Brunswick, as it will enable X-Terra to move forward and gain tremendous geological insight and robust geological data to support our exploration approach moving forward."
Dr. David Lentz states, "This is an exciting area with significant gold and base-metal potential, especially given recent grassroots success in this region; we very much look forward to working closely with the X-Terra Resources team to enhance exploration success in Northwestern New Brunswick"
X-Terra Resources would also like to congratulate Troilus Gold Corp. on their new mineral resource estimate of 4.71 million indicated AuEq ounces and 1.76 million inferred AuEq ounces at their Troilus Gold Project, Québec (See Troilus Gold Corp's news release dated November 12, 2019), a project located adjacent to X-Terra's 93km2 Troilus East gold project.
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 and Northwest Properties, or if it does so, what benefits X-Terra Resources will derive from the Grog and Northwest Properties. 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]