X-TERRA RESOURCES COMPLETES TRENCHING PROGRAM AT THE NORTWEST PROPERTY
ROUYN-NORANDA, QC, Oct. 5, 2022
ROUYN-NORANDA, QC, Oct. 5, 2022 /CNW/ – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (“X-Terra“) has completed 100% of its planned trenching program at the Northwest property located in Restigouche county, New Brunswick. The major highlight of the program was the identification of a sub-outcropping quartz veins systems associated with carbonate bearing alteration and sulfides where recent soil geochemistry results indicated a strong gold signature.
A total of nine trenches were completed, totalling 491 metres covering eight gold in soil targets, a common feature identified in the trenches was strong shearing, in addition to fault zones in sediments. Targets are all located within one kilometre from the Northwest creek lineament which runs along the property for more than five kilometres.
X-Terra notes that two trenches of the nine trenches were exceptional: TR-22-05 and TR-22-08A, located at three kilometres from each other and on the eastern side of the Northwest Creek lineament.
The 62 metres long trench adequately intercepted the bedrock surface which was covered by two metres of glacial sediments. An interval of approximately seven metres from 27 to 34 along the trench highlighted a yellowish siliceous fine grain rock associated with abundant quartz veins and veinlets. This unit is interlayered in a siliceous blue mudstone with sandy intervals. Remarkably, some blocks collected from bedrock along the 10 metre zone highlighted the presence of pyrite grains, galena and chalcopyrite associated with quartz veins veinlets.
The 70 metres long trench was completed using an East-West orientation to crosscut a double gold trend of soil anomalies. Field observations highlighted that the siliceous mudstone with fine interbedded sandstone is affected by a moderate to strong carbonate-chlorite-sericite alteration evolving towards an integral replacement of the sediments. This was observed over 16 metres and associated with a disseminated halo. In addition, a stockwork zone filled with different generations of quartz veining is centered on the alteration zone with an apparent width of approximately 10 metres
X-Terra has worked diligently over the last two years and employed different geological approaches to identify an extensive gold system in different locations of the Northwest property. In 2021, X-Terra drilled a series of holes approximately two and three kilometres north of the current trenching area, called the RIM target. A gold bearing trend was intercepted with associated mafic dykes. That particular RIM target drill program delivered three gold bearing intervals of 2.8 g/t, 3.15 g/t and 2.47 g/t over 0.55 metre, 0.4 and 0.4 metre respectively from hole RIM-21-05, which was centered on 0.12 g/t Au anomaly observed over 40 metres along the hole (see X-Terra press release of May 12, 2021).
Following these results, the geological team initiated a systematic exploration program on both sides of the Northwest Creek lineament using an extensive soil geochemistry pattern. Following the identification of correlated gold in soil anomalies, smaller and tighter grids were completed on a series of five trends. Initial trenching demonstrated the increasing level of shearing and faulting heading towards the Northwest Creek lineament giving the identification of a “mega shear” type importance, in an area where no major structural features had been identified in the past.
“This is a true technical success. The trenching program was lead following coherent gold in soil anomalies in an environment devoid of outcrop. Despite the challenges to reach the bedrock surface, we succeeded to identify pervasive altered rocks over significant thicknesses ranging anywhere from 5 to 15 metres. The styles of quartz veinlets associated with the minor amounts of polymetallic small grain sulfides carries many similar attributes to the historical RIM drilling program. We are looking forward to receiving the assays in the coming weeks to further our exploration with drill testing.” stated Michael Ferreira, President and Chief Executive Officer of X-Terra.
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.
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 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, 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.
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.
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