ROUYN-NORANDA, QC, March 17, 2022 /CNW/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is
pleased to provide an update on the Northwest project, with respect
to its geochemical sampling carried out in Q4 of 2021. The
Northwest project is part of a regional land position held along
the McKenzie Fault located in Restigouche County, New-Brunswick, where gold occurrences and
geochemical anomalies have continuously indicated the presence of
extensive mineralized systems associated with an understudied
thrust belt.
Highlights:
In Q4 of 2021, X-Terra completed 1,650 metres of mechanical
trenching and 13 line kilometres of "B horizon" sampling which
totaled 424 rock samples and 1,404 soil samples collected on the
whole property. The survey was designed to 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. This led 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).
Four priority gold-zinc anomalous targets were 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 long by 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 program revealed 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" targets are composed of three
kilometric 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.
Outlook
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-Terra stated, "These new targets,
tell us that we have identified the right approach to target
favorable areas for 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 gained from the mapping coupled with the
geochemical results has allowed us to enhance the modeling and will
allow us to delineate many new high potential drill targets with
considerable strike length".
QAQC
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.
Qualified Person
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.
Forward-Looking Statements
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.
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.
SOURCE X-Terra Resources Inc.