X-Terra resources reports drilling and channel sample results from a new polymetallic discovery at its 100% owned Ducran property
Oct 31, 2017, 15:37 ET
ROUYN-NORANDA, QC, Oct. 31, 2017 /CNW Telbec/ - X-Terra Ressources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce the results of channel sampling as well as the results from the three (3) exploratory drill holes (totalling 294 metres) from the X‑Terra Resources' 100% owned Ducran property located 15 kilometres south of the town of Chapais in the province of Québec (maps of work can be viewed here). X-Terra Resources completed these stripping and drilling works throughout its due diligence review for the acquisition of the Ducran property (see X-Terra Resources' press releases dated September 20, 2017 and October 16, 2017). The drilling program was carried out by Chibougamau Diamond Drilling based in Chibougamau, Québec.
Highlights
- Channel sampling performed on trench A returned the following intervals along the mineralized corridor:
- (R1) 0.06 g/t Au, 4.95 g/t Ag, 0.03% Co, 1.54% Cu and 0.91% Ni over 1.4 metres
- (R3) 0.04 g/t Au, 1.51 g/t Ag, 0.05% Co, 0.90% Cu and 1.22% Ni over 2.3 metres
- Hole DC17-01
- 0.04 g/t Au, 0.68 g/t Ag, 0.02% Co, 0.32% Cu and 0.50% Ni over 5.85 metres.
- Hole DC17-02
- 0.02 g/t Au, 2.49 g/t Ag, 0.24% Pb and 1.77% Zn over 2.00 metres.
- 0.06 g/t Au, 5.50 g/t Ag, 0.02% Co, 0.59% Cu and 0.29% Ni over 2.00 metres.
- Hole DC17-03
- 9.75 g/t Ag, 0.02% Co, 0.38% Cu, 0.45% Ni and 0.28% Zn over 3.90 metres.
Including (over 1.80 metres): - o 0.03 g/t Au, 18.62 g/t Ag, 0.03% Co, 0.70% Cu, 0.77% Ni and 0.24% Zn.
According to the trenches and drill core observations, the polymetallic mineralization is hosted by mafic schist in a sheared polyphased intrusion (diorite, quartz diorite and gabbro).
Three metallic packages were observed:
- Nickel and copper;
- Nickel, copper, silver and zinc with minor cobalt and gold; and
- Silver, zinc and lead with minor gold.
Package 1 and 2 are associated to pyrrhotite (1 to 30%) and chalcopyrite (trace to 6%) stringers in the mafic schist. Package 3 has only been observed in hole DC17-02 in a felsic fragment containing up to 25% sphalerite within the mafic schist (shear zone).
"The unique polymetallic mineralization we encountered in this renowned mining district is a big step for X-Terra as the results highlight a very prospective horizon that historically has never been tested both laterally and at depth. We are encouraged by the results and will be moving forward with a follow up exploration program" stated Michael Ferreira, President and Chief Executive Officer of X-Terra Resources Inc.
As described in X-Terra's press release of October 16, 2017, the mineralization at the Ducran property consisted in pyrrhotite and chalcopyrite stringers hosted by a "volcanogenic" alteration (thin sections study in progress) into a strongly sheared intrusion complex (diorite, quartz diorite and gabbro).
Channels sampling
Channel sampling performed on trench A returned the following intervals along the mineralized corridor:
- 0.06 g/t Au, 4.95 g/t Ag, 0.03% Co, 1.54% Cu and 0.91% Ni over 1.4 metres (R1)
- 0.04 g/t Au, 1.51 g/t Ag, 0.05% Co, 0.90% Cu and 1.22% Ni over 2.3 metres (R3)
R2 and R4 were performed to collect quality samples in order to complete additional thin section studies. No significant results were obtained on R2 and the following results were obtained on R4: 0.04 g/t Au, 0.6 g/t Ag, 0.02% Co, 0.25% Cu and 0.60% Ni.
Trench B, completed 35 metres to the West-North-West of trench A, failed to explain another beep mat conductor on strike of the shear zone due to the amount of overburden. The trench exposed a diorite and quartz diorite intrusion containing minor shear zone (millimetric to centimetric). The unexposed area is seven (7) to eight (8) metres wide and is interpreted to represent the location of the shear. Two (2) samples taken from outcrop, sample number 00559 over a 50 centimetres large injection or fragment into the diorite and sample number 00560 over a six (6) centimetres massive pyrite injection. Results are indicated below: Sample number 00559 graded 2.1 g/t Ag, 0.02% Co, 0.2% Cu and 0.84% Zn and Sample number 00560 graded 1.7 g/t Ag.
Diamond drilling results
Hole DC17-01
- Drilled directly under the South-East end of trench A and intersected the shear zone (containing 20% of centimetric to metric diorite fragments) at a depth of 10 metres over a width of 9.85 metres (from 8.50 metres to 18.35 metres). The mineralization within this zone is over 5.85 metres and consists of pyrrhotite and chalcopyrite stringers within the alteration.
- Hole DC17-01 graded:
0.04 g/t Au, 0.68 g/t Ag, 0.02% Co, 0.32% Cu and 0.50% Ni over 5.85 metres.
Hole DC17-02
- Drilled under No.1, have intersected the shear zone between 42 and 54 metres vertically over a width of 16.48 metres. Two mineralized zones are present in the shear; a 1.9 metres fragment from 68 to 70 metres consisting of a felsic xenolith containing 5% to 20% sphalerite and the stringer zone of pyrrhotite and chalcopyrite from 74.10 metres. to 76.10 metres.
- Hole DC17-02 graded:
0.02 g/t Au, 2.49 g/t Ag, 0.24% Pb and 1.77% Zn over 2.00 metres.
&
0.06 g/t Au, 5.50 g/t Ag, 0.02% Co, 0.59% Cu and 0.29% Ni over 2.00 metres.
Hole DC17-03
- Drilled 25 metres to the South-East, parallel to hole No. 2 according to the trend of the shear zone. The hole intersected the shear zone at vertical depth of 50 metres from 68.9 to 75.8 metres (over 6.9 metres). The stringer zone of pyrrhotite and chalcopyrite occurs between 69.9 and 73.8 metres (3.90 metres).
- Hole DC17-03:
9.75 g/t Ag, 0.02% Co, 0.38% Cu, 0.45% Ni and 0.28% Zn over 3.90 metres; including 0.03 g/t Au, 18.62 g/t Ag, 0.03% Co, 0.70% Cu, 0.77% Ni and 0.24% Zn over 1.80 metres.
"After our comprehensive interpretation of the mineralization, we have decided to concentrate our efforts on following the shear zone within the intrusions" stated Michel Chapdelaine Vice-President of Exploration and Development of X-Terra Resources. According to the previous work done in the 60's and in 1987-1988, the structure is open to the West-North-West, to the East-South-East and at depth. "By completing a detailed Mag-EM survey, followed by ground mapping and carrying some exploration and drilling, we hope to identify more in the shear and also establish other structures in the intrusions'' further stated Mr. Chapdelaine.
Qualified person
Jeannot Theberge, PGeo, a consultant to X-Terra Resources, is the qualified person for the Ducran 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.
Quality Control
The drilling contract was awarded to Chibougamau Drilling Ltd. based in Chibougamau, Québec. The hole diameter is NQ. X-Terra Resources has implemented and adheres to a strict Quality Assurance/Quality Control for its exploration program. It includes two mineralized gold standards, one pulp duplicate and one blank for each batch of 24 samples. Analyses are performed by Techni-Lab, Ste-Germaine-Boulé, Québec, an accredited laboratory.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals properties in Canada.
Forward-Looking Statements
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.
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.
Website: www.xterraresources.com
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: [email protected], 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 protected], Website: www.xterraresources.com