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.
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