ROUYN-NORANDA, QC, Nov. 23, 2017 /CNW Telbec/ - X-Terra Ressources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce the completion of a till sampling program on its 100% owned Troilus East property located in the Eeyou Istchee/Baie James Territory, located 1.5 kilometres from the former operating Troilus Mine site. Pitchblack Resources Ltd. is currently in the process of acquiring an option held by Sulliden Mining Capital Inc. to acquire a 100% interest on the former operating Troilus Mine from First Quantum Minerals Ltd.
A total of 78 samples were collected in October 2017 as part of a program designed to better define new potential gold target zones (see attached map). The use of glacial till as a prospecting medium on the Troilus East property has the potential to be highly effective because the till is derived from the erosion of bedrock during glaciation and thus may contain gold grains from any mineralized zones that were in contact with the ice sheet. Any available gold grains would be transported down-ice to form dispersal anomalies, or "trains", oriented in the direction of ice flow, which is southwest-northeast on the Troilus East property.
The glacial till sampling program was performed by IOS Geoservices, a well-known specialist in glacial till sampling, processing and interpretation of surficial geological processes. Till samples weighing approximately 10 kilograms were collected at approximately 250 metre intervals on lines spaced 2.5 to 3 kilometres apart and oriented perpendicular to the southwest-northeast direction of glaciation.
All samples will be submitted for analysis using the ARTGoldTM: Advanced Recovery Technology for Gold (an exclusive technology for the recuperation of gold grains in till). Results are expected at the beginning of 2018.
"This till program provided X-Terra Resources a cost effective exploration method at Troilus' drift covered terrain to determine if a possible gold source is present on the property" stated Michael Ferreira, President and Chief Executive Officer of X-Terra Resources.
X-Terra Resources wishes to invite investors to review its updated November 2017 investor presentation available on its website at www.xterraresources.com.
Jeannot Theberge, PGeo, a consultant to X-Terra Resources, is the qualified person for the Troilus East property under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, responsible for the technical contents of this news release, and has approved the disclosure of the technical information contained herein. The data verification was conducted by Jeannot Theberge, P.Geo. under the supervision of Michel Chapdelaine, Vice-President of Exploration and Development of X-Terra Resources.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals 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 development of the Veronneau Property and Ducran 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 Resources' Annual Report for the fiscal year ended December 31, 2016, 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.
For further information: X-Terra Resources Inc., Michael Ferreira, President and Chief Executive Officer, 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101 | Fax: 819-762-0097, E-mail: firstname.lastname@example.org, Website: www.xterraresources.com; Michel Chapdelaine, Vice-President of Exploration and Development, 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 418-520-2194 | Fax: 819-762-0097, E-mail: email@example.com, Website: www.xterraresources.com