Xtierra: Drilling South of Bilbao Commences
24 11월 2011 - 6:16AM
Marketwired
Xtierra Inc. (TSX VENTURE:XAG) ("Xtierra" or the "Company"),
previously reported (press release on September 8, 2011) that a
2,500 metre drilling programme had been commissioned to follow up
on high grade silver mineralisation previously encountered to the
south of the Bilbao deposit. However, due to difficulties in
obtaining and scheduling a drill contractor as well as new
environmental regulations in Mexico pertaining to development
properties as opposed to exploration properties, significant delays
were encountered in implementing this drill program. We are pleased
to report that drilling began on November 19.
In early Q3 2011, Xtierra announced results of a preliminary
program of drilling in the southern part of Bilbao to investigate
two types of silver-rich targets located immediately to the south
of the main Bilbao deposit. The targets, all with high grade silver
content, comprised high angle hydrothermal veins and brecciated
limestone horizons. Six separate mineralized veins and/or
fault-fillings were identified. The drilling was targeted to assist
in determining the characteristics and continuity of the high grade
silver veins previously found in drill-hole X26 at the southern
margin of, and beneath, the main deposit. Two structural trends
have been identified with the mineralisation. A NNW-SSE trend has
strong base-metal association while a NNE-SSW trend contains silver
values of up to 664g/t silver.
The holes were targeted to assist in determining the
characteristics and continuity of the high grade silver veins
previously found in drill-hole X26 at the southern margin of, and
beneath, the main Bilbao deposit. The width of these structures
varies, with veins averaging about 1m true thickness and
fault-fillings up to 12m in thickness. The NNW-SSE structures
typically contain higher base-metal values with combined zinc and
lead values of 14.95% (4.85% lead and 10.10% zinc) including 0.31%
copper and 97.9g/t silver over 4.65m in DDH X86-B; 21.39% combined
zinc and lead (9.96% lead and 11.43% zinc) including 0.27% copper
and 127.6g/t silver over 1.05m in DDH X86A; and in DDH X86B-1 there
is an intersection of 12.10m with average grades of 9.08% combined
zinc and lead (4.17% lead, 4.91% zinc) including 0.63% copper and
109.4g/t silver (refer earlier press releases).
The current programme will test a number of targets including,
(a) the open-ended mineralisation encountered in veins and shear
structures similar to that intersected in hole X40-1 (2.45 metres
averaging 1,623g/t silver, including 3,340g/t silver over 0.60m).
This hole was prematurely halted due to technical difficulties
while still in mineralisation; (b) the projected extensions to
brecciated silver-rich limestone horizons; and (c) a geophysical
anomaly (magnetic) believed to be associated with massive,
skarn-type sulphide mineralisation.
Meantime, the Company is progressing towards completion of a
Feasibility Study on the Bilbao project. The high priority and
critical path task to conclude the study is the oxide ore and
sulphide ore metallurgical test work nearing completion at the SGS
Laboratory in Lakefield, Ontario. Final tailings management design
and the completion of the environmental impact study (EIS) require
completion of the metallurgical test work to provide all the
necessary input data. The Feasibility Study is expected to be
completed by mid-2012.
Pinos District Exploration
The El Dorado gold project located in the Pinos district of
south-eastern Zacatecas State is situated 7 kilometers northeast of
the historic Pinos gold deposits where veins with reported bonanza
grades of more than 200g/t gold were mined historically on
northwest striking veins. Historic records suggest the average
mined grade was 97 g/t silver and 58.26 g/t gold.
Xtierra completed a program of surface exploration during late
Q3 2011 for epithermal gold mineralization in the El Centenario and
Santa Patricia claims to the north-west of the El Dorado vein. The
program included geological mapping, prospecting, geochemical soil
sampling and trenching. A significant geochemically anomalous area
of antimony and arsenic, both gold pathfinder elements, has been
located coincident with pervasive kaolinitic alteration of
rhyolitic tuffs within an acidic volcanic sequence. A hyperspectral
study of the rock alteration signatures of the district as revealed
by ASTER imagery is being undertaken to help identify areas
requiring more detailed examination within the overall prospective
zone. Meanwhile follow up soil sampling will be undertaken over the
anomalous area to define targets for drilling planned for Q1
2012.
Qualified Person
Information of a scientific or technical nature contained in
this release has been prepared by or under the supervision of
Terence N. McKillen, P.Geo., Chief Executive Officer, Gerald J.
Gauthier, P.Eng., Chief Operating Officer and Dr. Anthony C.
Gallon, C.Eng., Chief Geologist, all 'Qualified Persons' within the
meaning of National Instrument 43-101 - Standards of Disclosure for
Mineral Projects of the Canadian Securities Administrators.
Analytical Method
Samples from half-core were prepared at the Stewart Group
laboratory in Zacatecas and initially analyzed for 38 element
content using ICP-MS (inductively coupled plasma - mass
spectrometry) by the Stewart Group (Eco-Tech Laboratory) in
Kamloops, British Columbia. Values exceeding the limits of
detection are automatically re-analyzed by Fire Assay or Atomic
absorption spectrometry (AAS) methods respectively. Standards and
blanks were used regularly for quality control.
About Xtierra Inc.
Xtierra Inc. is a Toronto based exploration and development
company listed on the TSX Venture Exchange under the symbol "XAG".
There are 103,272,142 shares issued and outstanding. The Company is
completing a feasibility study on its Bilbao
silver-zinc-lead-copper project in Zacatecas, Mexico. Xtierra's
objective is to become a mid-tier producer of precious and base
metals through the development of its Bilbao project as well as
through exploration, organic growth and M & A
opportunities.
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 the
accuracy of this release.
Contacts: Xtierra Inc. Terence McKillen President & Chief
Executive +1 (416) 362-8243 Xtierra Inc. Tim Gallagher Director +1
(416) 925-0090 Xtierra Inc. Alejandro Alaniz Director Finance &
Administration (Mexico) +52 (492) 925-0804www.xtierra.ca
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