X-Terra Resources completes drilling at Grog, Northwest
X-TERRA RESOURCES HAS COMPLETED INAUGURAL DRILL PROGRAM OVER THE GROG & NORTHWEST PROPERTIES
X-Terra Resources Inc.'s 2020 drill exploration program on the Grog and Northwest properties, located in Restigouche county, New Brunswick, is now complete. A total of 1,904 metres over 16 holes have been drilled under this program.
The program has exceeded X-Terra Resources' expectations, as all geological targets have revealed very encouraging visual indicators of significant alteration and mineralization in different contexts related with the MacKenzie Gulch Fault.
The table below sets-out highlights on the 5 targets that have now been drilled.
The three areas drilled are separated by 3.8 kilometres following a north to north-east trend enclosed in a sequence of relatively coarse grain sediments (conglomerate and sandstone), locally interlayered or bounded by graphitic mudstone.
The cross section of the favorable corridor is still unknown. For this first pass of drilling, clusters of three to four holes were used on each target using a 50 to 100 metres spacing. Except for hole GRG-20-006, which is clearly outside alteration zones, quartz veining or sulfidation halos, all other holes have not closed targets and they remain open in all directions. Continuous sampling which will be performed should allow to trace the gold anomaly and help define the thickness and potential geometry of the favorable trend.
The three holes of 200 metres each that were drilled over the Grog Target anomaly also correspond to a significant IP chargeability anomaly (see X-Terra Resources' press release dated July 24, 2019) which is extended on both sides (east-west) for at least 600 metres and 450 metres (north-south). This particular anomaly is consistent with known sulphide mineralization known as the Grog showing, a zone hosted by conglomerates and consists of quartz veining, as well as breccias, and is rich in pyrite and arsenopyrite, as well as gold. The best value obtained by X-Terra Resources in this (antiform) was 2.94 grams per tonne gold in a quartz breccia where cavities are rich in pyrite and some minor stibnite.
Michael Ferreira, President and Chief Executive Officer of X-Terra Resources states,
We are very pleased to report the successful completion of this drill program on the Grog and Northwest properties. Assays are now pending on all 13 drill holes from the Grog property and we are excited by all the markers observed in the drill core. We look forward to providing continuous news flow in the coming weeks and months.
The corporate presentation available on X-Terra Resources' website has been updated to highlight the location of the drill holes over the Grog property and the drill core presentation will be updated shortly with pictures of the additional holes.
In addition, X-Terra Resources would like to invite shareholders to visit us at booth 2406 at the PDAC Conference in Toronto from March 1 to 4, 2020, to discuss the recent drill program, where drill core will be on display.
Also, X-Terra Resources will move its head office, on March 1, 2020, to 147 Quebec avenue. Rouyn-Noranda, Quebec, J9X 6M8. The mailing address will be: C.P. 491, Rouyn-Noranda, Quebec, J9X 5C4.
Jeannot Theberge, P. Geo registered in the Provinces of Quebec and New-Brunswick, a consultant to X-Terra Resources, a qualified person under National Instrument 43 -- 101 Standards of Disclosure for Mineral Projects has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in Canada.
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