ROUYN-NORANDA, QC, Sept. 27,
2022 /CNW Telbec/ - X-Terra Resources Inc. (TSXV:
XTT) (FRANKFURT: XTR) ("X-Terra") has completed 75% of its
planned trenching program at the Grog and Northwest Properties
located in north-western New-Brunswick, Restigouche County. Thus far, a
total of seven trenches were completed within the Grog geological
footprint with an additional 145 metre trench located 1.2
kilometres northeast of the Grog gold showing. Trench #TR-22-14
conducted on Grog Property became a high priority target given its
geophysical signature and proximal location to the Mackenzie break
fault as well as following Grog's gold anomaly northeast
strike.
X-Terra wishes to highlight the unusual nature of the dominant
sulphide mineralization, comprising of pyrite, and locally
chalcopyrite identified so far on the Trench #TR-22-14. The
mineralized structure was cross cut over a significant thickness in
a relatively remote area where no previous exploration work has
taken place. This particular trench was part of a property wide
investigation of strong magnetic contrasts indicators of a mafic
dyke swarm likely to host copper and gold mineralization according
to regional records.
Trench TR-22-14 hosted numerous series of 10 to 20 metres of
pyritic stringer zones along 120 metres of the 145 metre trench
that was completed. The combination of bad ground conditions and
the overburden at the eastern end of the trench prevented the team
from being able to observe if the mineralized system continues.
Sulfide bearing structures were generally crosscut with a strong
angle representing the approximate true thickness. Most of the
mineralization is hosted in a strongly altered fine grain
sedimentary unit with alternating bands of tectonic brecciation,
silicification and skarnification. The technical team also noted a
10 to 15 metres section of trench that hosted shear and fault zones
which were intercepted at two locations. Furthermore, disseminated
and pyrite stringers highlighted different textures and are
associated with stockwork filling quartz veinlets.
Grog
Parallel to the Trench TR-22-14 finding, six trenches were also
completed approximately 400 metres east of the Grog gold showing
covering a connected gold in soil anomaly. The objective is to
extend the influence of the mineralized system where surface
information highlights a strong gold-arsenic and antimony
geochemical footprint in soils.
These trenches have varying lengths between 20 and 70 metres.
The main highlight from these trenches was the observation of a
wide shear zone with signs of tectonic brecciation. Sampling
focused on these structures.
"This is the first time we have witnessed such continuity of
sulfides mineralization in the Grog area, in an unusual context
highlighting strong evidence of an intense hydrothermal system.
While we are still waiting for assays, we will use this new
geological information to further our exploration around the Grog
gold showing" stated Michael
Ferreira, President and Chief Executive Officer of
X-Terra.
Qualified Person
Martin Demers, P. Geo registered
in the Provinces of Québec and New-Brunswick (APEGNB #L5980), 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.
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 or the
results from exploration assays) of the Grog and Northwest
Properties, or if it does so, what benefits X-Terra will derive
from the Grog and Northwest Properties. 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, 2021, 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.