ROUYN-NORANDA, QC, Feb. 2, 2017 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) reports that it has initiated an airborne geophysical survey over the Veronneau property, recently optioned by X-Terra, located in the Eeyou Istchee/James Bay territory. SkyTEM Canada Inc. has been engaged to conduct a 1,225 line kilometre airborne survey. SkyTEM will be utilizing its SkyTEM312 TDEM system to complete the survey over the next few weeks. In addition, Marc Boivin from MB Geosolutions has been engaged as the geophysicist to interpret and verify the results as they become available.
The airborne survey is being performed along 100-metre spaced lines in order to obtain high resolution image quality of the geological features, along with important information about the geological trends and rock signatures.
The objective of the airborne survey is to provide a modern geophysical database from which X-Terra Resources will generate numerous exploration targets to be tested by a regional mapping and prospecting program planned for the summer of 2017, followed by diamond drilling in the latter half of 2017, if deemed necessary.
Michael Ferreira, X-Terra Resources President and CEO, commented: "We are very excited to have SkyTEM complete this high resolution airborne geophysical survey. It will serve as an invaluable tool for X-Terra moving forward, especially where surface exposure is poor. Further, it will provide an excellent database from which to design an effective exploration program and we are convinced Michel Chapdelaine will play an important role in his capacity as technical advisor to X-Terra Resources."
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in Canada. X-Terra Resources currently has 15.2 million common shares issued and outstanding.
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 development of the Property, or if any of them do so, what benefits X-Terra Resources will derive. 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 Resources' Annual Report for the fiscal year ended December 31, 2015, 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 Resources does not intend, nor does X-Terra Resources 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.
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SOURCE X-Terra Resources Inc.
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For further information: X-Terra Resources Inc., 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