viewX-Terra Resources

X-Terra Resources hits exploration success with new gold-bearing structure at Grog property in New Brunswick

The style of the mineralization shows strong characteristics of an epithermal gold system

X-Terra Resources -
One hole showed gold mineralization of 0.4 grams per ton over 36 metres

X-Terra Resources Inc (CVE:XTT) said Tuesday it had drilled a new gold-bearing structure at the Grog target on the Grog property in New Brunswick.

The style of the mineralization shows strong characteristics of an epithermal gold system, according to the company.

One hole showed gold mineralization of 0.4 grams per ton (g/t) gold over 36 metres along the hole, including 0.5 g/t gold over 31 metres and 7.6 g/t over 0.6 metres, located at a vertical depth of 81 metres underneath the target.

READ: Mawson Resources excited to begin hunt for high grades at Sunday Creek project in Australian goldfields

CEO Michael Ferreira told shareholders that the results were a “significant exploration breakthrough” at Grog, which has never been drilled before.

The showings reinforce the Quebec-based company’s belief that the property houses a large epithermal system, according to Ferreira. The firm told investors that while more drilling is needed, X-Terra’s management believes that the 11 holes, or nearly 1,500 metres drilled, only covered a “very small fraction” of the targeted environment.

“Reaching a significant mineralized interval this shallow (from 107 metres to 143 metres, in GRG-20-012) is a milestone we were relentlessly pursuing after completing the limited field exploration programs based predominately on roadside trenching,” Ferreira said in a statement.

“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."

X-Terra said it will continue evaluating and understanding the geological sequence that is triggering the gold deposition process, the structural relations and controls within the Grog environment. The next phase of exploration will involve substantiating the key geological characteristics of the Grog target over the newly identified targets located within the interpreted hydrothermal epithermal system.

X-Terra has an option to acquire a 70% interest in the Grog property and Northwest property, both in northeastern New Brunswick.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: X-Terra Resources

Price: 0.155 CAD

Market: TSX-V
Market Cap: $10.9 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Altamira Gold Corp releases positive channel results as the project moves...

Altamira Gold (CVE: ALTA-OTC: EQTRF) CEO Michael Bennett joined Steve Darling from Proactive to share details about the recent work at their at the Cajueiro gold project in Brazil. That trenching work has identified several new mineralized structures. Bennett shared details about that work...

10 hours, 58 minutes ago

2 min read