Rouyn-Noranda, Québec, October 19, 2021 – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra”) is pleased to announce that its recent diamond drill program at Troilus East has revealed a new disseminated copper mineralized trend located three kilometres east of Troilus Gold’s copper/gold deposit. X-Terra’s Troilus East project is located approximately 135 kilometres from the town of Chibougamau in the province of Québec.
The highlight of the program stems from five holes representing 759 metres drilled on the southwest target. Results received highlighted a strong copper enrichment between 0.1 and 0.3 % over metric intervals of up to 7 metres in length. In addition, the mineralization was intercepted just below surface at vertical depths of 25 metres and 50 metres.
In addition, some lower yet important grade values below 400 ppm (0.04%) and localized gold anomalies ranging from 0.03 to 0.25 g/t were obtained from holes TESW-21-01, TESW-21-05, TESW- 21-07, TESW-21-08.
The copper mineralization is related to finely disseminated chalcopyrite associated with wider pyrrhotite halos hosted in varied lithological setting, mostly of mafic composition, composed of basalt to andesite volcanics, diorite to gabbro intrusions and occasional sediments at contacts. The mineralization is associated with a zoned alteration pattern strongly overprinting primary compositions and cross cutting lithological contacts. Mineral assemblages observed have similarities with the neighboring Troilus deposit as previously disclosed by X-Terra in its press release dated July 20, 2021.
The staggered drilled pattern used was 100 to 200 metres spaced out and covers a vertical extent of about 100 metres with one hole reaching a depth of 150 metres. Laterally, the pattern extends for nearly 700 metres along strike. The preliminary interpretation produced to date is based on one section cross cutting the middle of the anomaly. The newly identified copper trend can be traced following a shallow dip between 0 and 45 degrees to the north-west for about 200 metres, which remains to be drilled tested.
Gold anomalies between 0.02 g/t and 0.25 g/t were obtained in different location over the drill pattern, hosted primarily in mafic intrusions and occasionally correlated with copper grades, much like the historic Troilus deposit. A complementary table qualifies
“We are encouraged by the results of this first ever drill program. The copper system identified close to surface covers about 700 metres of strike length and is open in all directions. We also noted strong correlations of gold associated with these copper results and this an important indicator that will require additional follow up work to uncover the true potential of the gold/copper system. We also noted that the copper values are well within the copper grades of the Troilus deposit. Further, this anomaly covers over 1.1 kilometres of the known strike length and just over half has been tested. Given the enrichment of grades towards the northeast, further work is being planned to extend the potential strike length.” stated Michael Ferreira, President and Chief Executive Officer of X-Terra.
Table of results:
Hole information data:
Quality assurance/quality control.
X-Terra adheres to a strict quality assurance and quality control program with regard to core handling, sampling, transportation of samples and lab analyses. Samples selected for assay were shipped via secure transportation to the Techni-Lab (S.G.B. Abitibi Inc.) preparation facility in Ste-Germaine Boulé, QC. Rock samples were assayed for gold by standard fire assay on 30-gram fractions with atomic absorption (TMT-G5B) or gravimetric finish (TMT-G5C) at Techni-Lab (S.G.B. Abitibi Inc.). The exploration program is designed and the results are interpreted by qualified persons using a quality
assurance/quality control program based on industry best practices, including the use of standards, blanks and duplicates for every 50 samples.
Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra, a qualified person under National Instrument 43‑101 Standards of Disclosure for Mineral Projects (“NI 43-101”) has reviewed 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 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, 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 (including any drilling programs) of the Troilus East project, or if it does so, what benefits X-Terra will derive from the Troilus East project. 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’s 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, 2020, 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.
For further information:
X-Terra Resources Inc.
Michael Ferreira, President and Chief Executive Officer
147 Québec Avenue
Rouyn-Noranda, Québec, J9X 6M8
Telephone: 819-762-4101 | Fax: 819-762-0097