Business
X-Terra Resources completes a successful VTEM survey on its 100% owned Ducran property and announces results of its annual and special meeting of shareholders
ROUYN-NORANDA, QC, Dec. 18, 2018 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to report the completion of a signifi
About this update from Comet Lithium Corp
[{"type":"text","content":" ROUYN-NORANDA, QC, Dec. 18, 2018 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (\"X-Terra\") is pleased to report the completion of a significant helicopter-borne electromagnetic (''VTEM'') survey on its wholly-owned Ducran project, acquired in 2017. The Ducran property is comprised of 66 mining claims covering a surface area of approximately 36 km2. The Ducran property is located approximately 14 kilometres to the South of the town of Chapais in the Province of Québec and is easily accessible by a series of logging roads. Given its significant depth penetration, this VTEM survey, conducted along flight lines spaced 75-metre apart and totalling approximately 319 line kilometres, is designed to detect new conductors that can be associated to the main Ni-Cu-Zn and Ag showing discovered in 2017 (see X-Terra's press release dated October 31, 2017) and also to identify new conductors in this favorable geological context. In the fall of 2017, the X-Terra's exploration team outlined a polymetallic mineralization hosted by mafic schist in a sheared polyphased intrusion (diorite, quartz diorite and gabbro) and extended it by drilling to 54 metres vertically and 25 metres to the South-East. The mineralized shear is open at depth and in all directions. Additionally, the historical Boma showing, in which a short drill hole was completed in 1965, located at 570 metres to the South-East of the Ducran showing returned 5.14 g/t Au, 12.77% Cu and 84.34 g/t Ag over 0.61 metres (GM 48085) and remains open. Following the VTEM survey, X-Terra will perform follow-up work in an effort to validate the anomalies in the vicinity of the Ducran and Boma showings as well as the new VTEM anomalies located in favourable geological settings. In other news, X-Terra is also pleased to announce the results of its annual and special meeting of shareholders held on December 12, 2018 in Rouyn-Noranda, Québec. At the meeting, shareholders elected Michael Ferreira, Sylvain Champagne, Michel Chapdelaine, Jean-François Madore, Michael Byron, Kim Oishi and Sébastien Bellefleur as members of the Board of Directors of X-Terra. The shareholders also re-appointed PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the auditors of X-Terra. The resolution ratifying and confirming X-Terra's stock option plan was withdrawn and ...