X-TERRA RESOURCES CONGRATULATES WINSOME ON MAJOR DISCOVERY AT ADINA LITHIUM PROJECT AND SIGNS GEOPHYSICAL CONTRACT
ROUYN-NORANDA, QC, Jan. 10, 2023 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is excited by the recent Winsome Resources (ASX: WR1) drill results which announced discovery hole AD-22-005 at its Adina project with mineralization grading 1.34% Li2O over 107.6 metres (see Winsome press release dated January 6, 2023). The Adina project lies directly adjacent and on strike to X-Terra's 100% owned Liberty Lithium property in James Bay region, Québec (see X-Terra's press release dated June 8, 2022). This new information along with the location of the numerous pending assays from Winsome will play a significant role in X-Terra's forthcoming exploration campaign.
"We have been looking forward to the release of these results since the recent drilling announcement Winsome made back in October 2022. This is another world class drill hole for Lithium in James Bay and our excitement only continues to grow knowing that we are very well positioned to expand the Adina major lithium pegmatite system." Stated Michael Ferreira, President and Chief Executive Officer of X-Terra.
To accelerate the exploration process, X-Terra recently signed a contract with Prospectair Geosurveys to carry out a high resolution heliborne magnetic survey over the Liberty project as well as its other lithium properties in the James Bay region of the province of Québec.
The survey is for a total of 2,496 line kilometres. Furthermore, in order to acquire detailed information over the Liberty project, 50 metre line spacing was used, as this has proved to be the most important factor in interpreting structures and rock formations, especially where rocks are not outcropping. X-Terra will communicate the results as soon as the contractor provides the final report which is expected in the coming weeks.
Jeannot Théberge, P. Geo registered in the Province of Québec, a consultant to X-Terra, 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.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and Lithium properties in Canada.
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 Resources, 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 any exploration programs on or the development of the Liberty Lithium property or the other X-Terra's lithium properties in the James Bay region (collectively, the "X-Terra Lithium Properties"), the results from exploration assays, the timing of the exploration programs and development of the X-Terra Lithium Properties, or what benefits X-Terra will derive from the X-Terra Lithium 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 Resources' control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Instruments" and "Risk and Uncertainties in X-Terra Resources' 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 Resources does not intend, nor does X-Terra Resources 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.
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
Website: www.xterraresources.com
SOURCE X-Terra Resources Inc.
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