X-Terra Resources recovers over 70 pristine gold grains from Troilus till sample program
ROUYN-NORANDA, QC, June 13, 2018 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce the results of its fall 2017 till sample program on its 100% owned Troilus East property, located 1.5 kilometres from the former-operating Troilus mine site in the region of Chibougamau in the Province of Québec.
The till sample program was carried out by IOS Geoservices of Chicoutimi, Québec, a well-known specialist in glacial till sampling, processing and interpretation of surficial geological processes. While the results were anticipated to arrive at the beginning of 2018, delays forced the 78 till samples to be analyzed at a later date.
All samples were submitted for analysis using ARTGold: Advanced Recovery Technology for Gold (an exclusive technology for the recuperation of gold grains in till). A total of 72 of 78 samples have tested positive for gold grains, using both visual evaluation and the ARTGold recovery technology. The gold grain count varied from one (1) gold grain up to 13 gold grains per 10 kilogram sample for a total of 283 gold grains. The gold grains were extracted, and their dimensions measured and classified as "pristine", "modified", or "reshaped" to estimate the distance the gold grains travelled from their potential bedrock source.
A total of 71 gold grains have been classified as pristine meaning that the location of the till samples in which such gold grains have been recuperated are most likely located less than 500 metres from the source of the gold sample. Further, 181 gold grains have been classified as modified, indicating that the gold grain is slightly reshaped, indicating that they could be within 1,000 metres of their original source. And the remaining 31 gold grains have been classified as reshaped meaning they are most likely to be more than 1,000 metres from the source of the gold sample.
(Figure 1 attached) highlights the location of the gold grains in till throughout the Troilus East property.
Michael Ferreira, President and Chief Executive Officer of X-Terra Resources states, "We are extremely happy with the amount of pristine gold grains obtained. It highlights that the ground in the Troilus mining camp is fertile with gold and the potential for additional discoveries remains positive". "We are also pleased to see that Troilus Gold Corp. recently completed a $15.75 million dollar financing to continue their exploration efforts to restart the former Troilus mine" (See Troilus Gold press release dated, June 5, 2018).
The Corporation is now in the planning stages of a follow up till sample program which will reduce the spacing between samples taken in an effort to identify a more detailed gold dispersal train.
Qualified person
Jeannot Theberge, P.Geo, a consultant to X-Terra Resources, is the qualified person 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.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in Canada.
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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 acquisition or development of any identified new targets presented by Eagle Geosciences, 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, 2017, 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., 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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