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X-Terra Resources completes initial payment pursuant to the exploration and option agreement for the Veronneau Property
X-Terra Resources completes initial payment pursuant to the exploration and option agreeme...
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[{"type":"text","content":"\n\n\n\nX-Terra Resources completes initial payment pursuant to the exploration and option agreement for the Veronneau Property\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nROUYN-NORANDA, QC, March 6, 2017\n\n\n\nROUYN-NORANDA, QC, March 6, 2017 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) announces the completion of the initial payment pursuant to its previously-announced exploration and option agreement for the acquisition of up to a 60% ownership in the Veronneau Property.  X-Terra Resources paid an aggregate amount of $100,000 and issued an aggregate of 1,250,000 common shares to the optionors as initial payment in order to obtain the right to explore and option the Veronneau Property (see X-Terra Resources' press release dated January 17, 2017 for more information on the exploration and option agreement).\n\nX-Terra Resources also wishes to report that preliminary data from its recently completed airborne geophysical survey has been received.  Michel Chapdelaine, a director and member of the technical committee of the Board of Directors of X‑Terra Resources commented, \"The quality of the survey is impeccable and the first interpretations completed by MB Geosolutions are as well. The precision of the data will enable X-Terra Ressources to precisely target their exploration. In addition, the Veronneau showing is located on a ½ kilometre per 2 kilometres area where the Mag-EM signature is unique as it is very different compared with the rest of the property. We can see certain electromagnetic conductors seem to recut the principal structural grain\" (see figure appended). \n\nIn other news, X-Terra wishes to announce that it has acquired 100% ownership interest of the Rimouski and Rimouski North shale gas licences by acquiring the remaining 50% ownership interest it did not already own and has already begun exploring strategic alternatives for these assets.\n\nQualified Person\n\nMr. Jeannot Théberge, PGeo, a consultant to X-Terra Resources, is the qualified person for the ...