X-Terra Resources Initial Drilling at Northwest Hits Gold

ROUYN-NORANDA, QC, Feb. 18, 2020 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that its first two holes at the Northwest property, located in Restigouche county, New Brunswick, have returned gold values. 

The targets were designed to test a new hypothesis and not any existing high-grade showings previously discovered over the property, such as the Rim, Dome or the Bonanza showing (See X-Terra Resources' press release dated December 5, 2018 for historical results). Target trench 26 hosted in greenshist sediments, highlighted gold values up to 4.5 g/t Au in trench (See X-Terra Resources' press release dated November 27, 2019) where the host structure highlighted a N-NE strongly dipping shear zone along a folded contact.

The numerous anomalous results in gold, including 6.93 g/t Au over 0.5 metre in NWST-20-003 and 1.2 g/t Au over 1 metre in NWST-20-002 prove that the system is gold bearing. The two holes are located on the same east-west section, and gold bearing veins were intercepted respectively at 32 metres and 34 metres depth following a 55-degree dip

Actual interpretation indicates possibly that the newly found mineralization is hosted in a distinct north to north-east shear zone located outside the actual till survey coverage and at 2.2 and 3.2 km from existing gold showing (see map below).

RESULTS

The 1.2 g/t Au over 1 metre result obtained in NWST-20-002 from 32 metres to 33 metres was located within the 22 metre stockwork of veins up to 15% quartz carbonate with traces of pyrrhotite and chalcopyrite along with strong chlorite alteration. The 6.93 g/t Au over 0.5 metre obtained in NWST-20-003 from 34 to 34.5 metres was located within a 15.5 metre stockwork of veins with quartz carbonate including traces of pyrrhotite and chalcopyrite. 

The table below highlights the details

Michael Ferreira, President and Chief Executive Officer of X-Terra Resources states, "hitting gold values in these first holes is big step and really encouraging considering that the initial gold discovery was generated by a fortuitous roadside prospecting. The extension of the till survey toward that direction, also by reducing the initial 500 metres spacing between samples, should define more accurate targets, and eventually follow up with additional drilling".

In additional news, three more holes, GRG-20-001, GRG-20-002 (From the Dyke Swarm Target) and one hole – GRG-20-003 from the Bellevue North target, have been logged, cut and sampled and have been sent to the lab.

QA/QC

X-Terra Resources adheres to a strict quality assurance and quality control program with regard to core handling, sampling, transportation of samples and lab analyses. Samples selected for assay were shipped via secure transportation to the Techni-Lab (S.G.B. Abitibi Inc.) preparation facility in Ste-Germaine Boulé, QC. samples were assayed for gold by standard fire assay on 30-gram fractions with atomic absorption (TMT-G5B) or gravimetric finish (TMT-G5C) at Techni-Lab (S.G.B. Abitibi Inc.). In addition, the quality control protocol includes insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate and standard samples accredited by Actlabs during the analytical process. 

Qualified Person

Jeannot Théberge, P. Geo registered in the Provinces of Québec and New-Brunswick, a consultant to X-Terra Resources, 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.

About X-Terra Resources Inc.

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

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 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 the exploration programs and development (including any drilling programs) of the Grog and Northwest Properties, or if it does so, what benefits X-Terra Resources 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 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, 2018, 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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