Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: XTT; XTRRF

Firm Reports Gold Discovery in New Brunswick
News Update

Source:

Mineralization suggests the presence of an epithermal system at this project of X-Terra Resources.

X-Terra Resources Inc. (XTT:TSX; XTRRF:OTCMKTS; XTR:FSE) announced in a news release that drilling encountered a new gold bearing structure at the Grog target in New Brunswick.

"Hole GRG-20-012 identified gold (Au) mineralization over a significant width with one interval of 0.41 g/t Au over 36 meters along the hole, which includes 0.46 g/t Au over 31 meters and includes 7.59 g/t Au over 0.6 meters located at a vertical depth of 81 meters under the Grog showing," the company reported.

"This is a significant exploration breakthrough on a property that's never been drilled and reinforces our expectations that a large epithermal system is present," President and CEO Michael Ferreira said in the release.

"While more in-depth geological work, which includes drilling is needed, X-Terra's management believes that the 11 holes (1,499 metres drilled) only covered a very small fraction of the targeted environment. Reaching a significant mineralized interval this shallow (from 107 meters to 143 meters, in GRG-20-012) is a milestone we were relentlessly pursuing after completing the limited field exploration programs based predominately on roadside trenching," Ferreira added.

The program consisted of 11 holes divided into three clusters, each of which encompassed three or four holes dispersed over a roughly 1.6 kilometer area, following the north to east regional trend associated with the McKenzie Gulch Fault. The 1,499 meters (1,499m) drilled constituted a tiny part of the target area, the company noted.

"The information obtained in this program will allow the detailed follow up on the Grog target but also allow X-Terra to refine and generate more high priority targets carrying the same geological characteristics to that of the Grog target. This provides a monumental shift moving forward," Ferreira concluded.

[NLINSERT]

Disclosure:
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.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: X-Terra Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with X-Terra Resources. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of X-Terra Resources, a company mentioned in this article.




Learn More about Which Online Broker is Right for You?

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe