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Xtierra Inc.
Xtierra Inc.
Registriert in: Kanada WKN: A0Q93E Rohstoffe:
Art: Originalaktie ISIN: CA98417Q1037 Gold
Heimatbörse: TSX Venture Alternativ: XRESF
Währung: CAD    
Symbol: XAG.V Forum:

Xtierra to Drill High Grade Silver Potential at Bilbao

24.09.2020 | 17:20 Uhr | Newsfile

Toronto, September 24, 2020 - Xtierra Inc. (TSXV: XAG) ("Xtierra" or the "Company") intends to undertake a small drill campaign of 5 holes for a total of 1500 meters into two previously identified areas of high grade silver mineralization. The first target area is located adjacent to and west of the main Bilbao Silver-Lead-Zinc deposit. The key prior drilling results (silver only) from the period 2010-2013 (See July 7, 2010 PR) are summarized in below. This high grade silver zone runs north-south over a strike length of approximately 500 meters (see map below):

Drill Hole From To Metres g/t Ag
X42 181.00 182.00 1.00 182
X75 252.30 253.00 0.70 2047
X34 311.00 313.00 2.00 711
X37 320.00 322.00 2.00 330
X26 381.00 387.00 6.00 847
X26 361.00 362.00 1.00 582
X84B 357.30 360.55 3.25 412
X85 159.00 171.00 12.00 127
X96 230.00 232.00 2.00 373
X100 225.00 226.00 1.00 810

Location of the drill holes for exploration in the Silver zone to the SW of Bilbao

To view an enhanced version of this graphic, please visit:

Samples from half-core were prepared at the Stewart Group laboratory in Zacatecas and analyzed for multi-element content using ICP-MS by Stewart Group in Kamloops, British Columbia. Standards and blanks were used regularly for quality control. Significant mineralized intervals are reported in the table as core lengths and estimated true thickness (70 to 95 per cent of core length).

The objective of drilling 2 holes into this silver zone is to confirm the continuity of the high grade silver values to the northwest between drill holes X42 and X75 and to the south between drill holes X84B and X96 which are separated by 100 meters.

The second zone, called El Cabezon is a former silver mine operated by the Frisco Industrial Group, located 1.5 km south of Bilbao. The vein is exposed over 600 meters so the objective is to drill 2 holes in search of the continuity of the mineralization of the silver vein below the old mine where 3 levels were exploited. A third hole is planned to seek the continuity 400 meters to the northwest of the first drill hole and is located in the Bilbao 2 concession. As previously reported, this area has potential to offer additional tonnage based on similar results from trenching, sampling and soil geochemistry.

"The review of prior exploration reports and drill results from 2010-2013, identified 8 targets for potential satellite mineralization around the main Bilbao deposit, two of which stand out with high grade silver potential and therefore merit drilling, especially with the much improved outlook for silver prices, approaching the US$30 per ounce level used in the 2014 RPM PEA. Xtierra invested over $30 million into Bilbao and would like to monetize this asset into a cash flowing royalty and enable the company to focus royalty acquisitions in order to maximize value for shareholders," commented Tim Gallagher, President.

Qualified Person

Scientific and technical information disclosed in this press release was prepared by or under the supervision of and approved by Gerry J. Gauthier, P. Eng., a Director and former President of the Company and a 'qualified person' within the meaning of NI 43-101.

* * * * * *

About Xtierra Inc.

Xtierra is a natural resource company with precious and base metal mineral properties in the Central Silver Belt of Mexico in the State of Zacatecas and is pursuing new opportunities including identifying and evaluating new potential royalty acquisitions.

Xtierra holds a 100% interest, subject to a 1.5% net smelter royalty repurchased in July 2019, on the Bilbao project silver-lead-zinc-copper project located in the southeastern part of the State of Zacatecas.

Xtierra owns 88% of the shares of Minera Portree de Zacatecas, S.A. de C.V ("Minera Portree") which holds various legal or royalty interests in certain mineral properties in Mexico, including the Company's Bilbao property, and an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine operated by Capstone Mining Corp., which claim is challenged by Capstone.

For further information contact Xtierra Inc. at info@xtierra.ca.

John F. Kearney
(416) 362-6686

Tim Gallagher
President & Director
(416) 925‐0090

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64568

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