Rouyn-Noranda, Quebec, March 17, 2022 – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra”) is pleased to provide an updateon the Northwest project, with respect to its geochemical sampling carried out in Q4 of 2021. The Northwest project ispart of a regional land position held along the McKenzie Fault located in Restigouche County,New-Brunswick, where gold occurrences and geochemical anomalieshave continuously indicated the presence of extensive mineralized systems associated with anunderstudied thrust belt.
In Q4 of 2021, X-Terra completed 1,650 metres of mechanical trenching and 13 line kilometres of “B horizon”sampling which totaled 424rock samples and 1,404soil samples collected on the whole property. The survey was designedto cover initial gold in till anomalies which are centered on the White Brook Formation where known high-grade gold showings in quartz veins are found at surface and identified as Dome, Bonanza and RIM. X-Terra notes that all three of these showings are peripheral to the main till anomalies.
The trenching work was completed on several available targets based on quartz veins fragments that were identified along the vast network of forestry roads and trails. Thisled to the identification of numerous extensive quartz vein systems in the Northwest River area that could be related to the regional fold hinge hosting the RIM vein system (See X-Terra press release dated November 10,2021).
Fourpriority gold-zinc anomalous targetswere identified and can be highlighted inside the folded White Brook Formation, covering an area of about 8 square kilometres. Gold anomalies are defined by values ranging from 10 to 57 ppb. And while the wide line spacing does not always allow a direct correlation, the targets are based on close repetition of gold values correlated over multiple lines. It is important to note that they were also many scattered gold values in the survey that remain to be explained or discarded by additional analysis or validation sampling. The map below highlights the target interpretation.
“Northwest Creek South Target”: takes the form of a 1 kilometre longby 200-metre-wide anomalous trend with a gold-zinc-arsenic signature. These pathfinder elements are also scattered in the environment forming a wider, 500 metre wide envelope crosscutting topographic and hydrographic features. The fall trenching programrevealed a high density of quartz veins and quartz breccia crosscut over a 20 metres windows. However, this vein system was located 100 to 150 metres away from the geochemical gold anomalies.X-Terra will revisit this area of importance in the spring of 2022 with additional trenching.
“Line Eighteen” targetsare composed of threekilometric north-south parallel trends defined by a grouping of gold and zinc anomalies proximal to arsenic halos having a 50 to 200 metres wide influence.The target area is not outcropping.These three anomalies crosscut topographic and hydrographic features indicating limited transport from their potential source.
To date, the soil survey approach appears to be the best exploration tool for the Northwest environment considering that mineralized targets are nearly blind to geophysical methods with their low sulfides content. The deep soil profile observed with the bedrock weathering in the surveyed region, has highlighted enhanced metals circulation.
Michael Ferreira, President and Chief Executive Officer of X-Terrastated,“Thesenew targets, tell us that we have identified the right approach to target favorable areasfor gold mineralization and be able to considerably reduce the areas that need to be covered in the future. While the trenching results are still pending, due to lab delays, the structural understanding gainedfrom the mapping coupled with the geochemical results has allowedus to enhance the modeling and will allow us to delineate many new high potential drill targets with considerable strike length”.
The geochemical soil sampling program was completed by Terrane Geosciences inc. supervised by Stefan Kruse, Ph.D., P.Geo. Soil samples were processed at the Actlabs preparation facility of Fredericton, New Brunswick and at the Ancaster laboratory, Ontario. Samples were sieved at -177 µm considering the coarse nature of material collected. Prepared samples were submitted to Instrumental Neutron Activation Analysis (INAA). The detection limit for gold is 2 ppb.
Martin Demers, 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 and scientific contents of this news release and has approved the disclosure of the technical information contained herein.
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 and drilling results) of the Northwest property, or if it does so, what benefits X-Terra will derive from the Northwest 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’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.
About X-Terra Resources Inc.
X-Terra is a resource company focused on acquiring and exploring precious metals properties in Canada.
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X-Terra Resources Inc.
Michael Ferreira, President and Chief Executive Officer
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Rouyn-Noranda, Québec, J9X 6M8
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