Gold Company Begins Exploring Quebec Property

X-Terra Resources recently completed a $22 million bought-deal financing.

X-Terra Resources Inc. (XTT:TSX.V; XTRRF:OTCMKTS; XTR:FSE) began its 2020 exploration program its Troilus East property on northern Quebec's Frotet-Evans greenstone belt, it announced in a news release.

In the campaign's first phase, the team will prospect and sample already defined targets and, if appropriate, conduct manual outcrop stripping and channeling. Further, if the results warrant it, an induced polarization survey may be done, the company indicated.

X-Terra's Troilus East land package spans 22 kilometers (22 km) along the Frotet-Evans belt, encompasses 182 mining claims and is less than 2.5 km away Troilus Gold's project.

There, Troilus Gold has recently discovered multiple areas of surface mineralization. One demonstrated 110 grams per ton gold about 1 km from its J4 open pit, which the company stated suggests that high-grade mineralization is present in the area. Also, the existing Measured and Indicated resource at Troilus Gold's gold-copper project is a reported 6.4 million ounces of gold equivalent.

Thus, "the potential to identify new near-surface gold occurrences over XTerra's Troilus East property remains high," X-Terra President and CEO Michael Ferreira said in the release.

The firm recently announced a $22 million bought-deal financing.

The Canadian exploration company also announced that it temporarily curtailed its work in New Brunswick due to COVID-19-related travel restrictions.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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