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.
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.
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 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.
X-Terra is a resource company focused on acquiring and exploring precious metals properties in Canada.
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SOURCE X-Terra Resources Inc.
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