Rouyn-Noranda, Québec, March 15, 2021 – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra”) is pleased to announced that the line cutting and IP geophysics team have mobilized to its 100% owned,92 square kilometre Troilus East property located on the Frotet Evans greenstone belt,located approximately 130 kilometres north of the town of Chibougamau, Québec.
The program will cover three unique grids, including the new mineralized system discovered this past summer, (See X-Terra press release dated August 13, 2020), with the goal of adding additional precision to the drill targets for a drill program to be launched shortly thereafter.
These three high priority targets are located about three kilometres east of the Troilus deposit (Troilus Gold, TSX: TLG) following the southwestern side of the property. The 2.2-kilometre-long target is based on the discovery by surface exploration of a polymetallic signature (Cu, Ag, Au, W). The mixed sequence of intermediate volcanic interlayered with dioritic intrusions identified in this area shares many similarities with Troilus gold’s deposit.
Refer to Troilus Gold’s NI 43-101 Technical Report dated October 14, 2020 with an effective date of August 31, 2020 and entitled “Preliminary Economic Assessment of the Troilus Gold Project, Quebec, Canada”, available on Troilus Gold’s SEDAR profile at www.sedar.com).
Michael Ferreira, President and Chief Executive Officer of X-Terra, stated; “We have been looking forward to this next step since receiving the results of our geochemical sampling program. It now brings X-Terra one step closer to the inaugural drill program at Troilus East and with the recent exploration success of KenorlandMinerals and most recently of Troilus Gold, it keeps shedding light on the vast possibility of additional gold occurrences along the underexplored greenstone belt. This survey will enable X-Terra to add precision to the drill targets in the upcoming drill program”.
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.
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 Property, or if it does so, what benefits X-Terra will derive from the Troilus East 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, 2019, 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.
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