Rouyn-Noranda, Québec, October 13, 2021 – X-Terra Resources Inc. (TSXV: XTT)(FRANKFURT: XTR) (“X-Terra”) is pleased to announce that it has mobilized its field crew to the Grog and Northwest Properties located in the Restigouche County, New Brunswick to launch the third and largest stripping and trenching program to date.
Priority of the program will be concentrated over the Northwest high grade orogenic gold system, in addition to some trenches also being completed over the Grog Epithermal target in order to expand the mineralized footprint.
X-Terra has also engaged the services of Terrane Geoscience, based in Halifax Nova Scotia to execute a large-scale geochemistry program over 30 transects with sample spacing every 50 metres, totaling 47.5 line kilometres.
X-Terra will be conducting this further B-horizon soil geochemistry survey along selected transects as a follow-up to the sampling program completed by Terrane in July 2020. Key analytical pathfinder elements for this survey include Au, As, Sb and Fe. A high priority has recently been put forth over the Northwest property given the geological context and its similarities with New Found Gold’s Queenway property located in Newfoundland and Puma Explorations Williams Brook property (located approximately 12 kilometres east of Northwest) where Puma recently announced a major gold discovery (See Puma’s press release dated September 15, 2021).
The area of interest is underlain by Late Ordovician, deep-water clastic sediments of the Grog Brook Group crosscut by different alteration and intrusion generations. Previous exploration phases performed by X-Terra have demonstrated an extensive gold grain counts anomaly coming from spaced out till sampling in a region nearly completely covered by overburden. Additionally, drill holes completed to date have identified gold bearing shear zones along magnetic contrasts. Patterns identified so far will contribute to focus on these high priority areas.
In additional news, X-Terra is excited to announce it has received all the drill hole data from its recently completed drill program at its wholly-owned Troilus East project and the results will be announced in the coming days.
“We have been waiting for this additional drill data for weeks and now that it has finally arrived, the technical team is compiling the data and we look forward to reporting the results”. stated Michael Ferreira, President and Chief Executive Officer of X-Terra.
Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra Resources, 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 Resources is a resource company focused on acquiring and exploring precious metals and energy 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 of the Grog and Northwest Properties or results from the drill program on the Troilus East project, or if it does so, what benefits X-Terra will derive from the Grog and Northwest Properties and 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.
Mr. Michael Ferreira, President & Chief Executive Officer
147 Québec Avenue
Rouyn-Noranda, Québec, J9X 6M8
Telephone: 819-762-4101 | Fax: 819-762-0097