Toronto, Ontario–(Newsfile Corp. – January 5, 2021) – Xtierra Inc. (TSXV: XAG) (“Xtierra” or the “Company”) has completed the first two drill holes and 732 meters of a planned five drill holes totaling 1500 meters into previously identified areas of high-grade silver mineralization. Drill core samples will be sent to an SGS laboratory in Durango with results anticipated by the end of the month. Current drilling is located adjacent to and west of the main Bilbao Silver-Lead-Zinc deposit. The objective of drilling these two holes 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 100 meters apart. The third hole will test the continuity between the two best drill hole results in X26 and X40-1.

Key prior drilling results (silver only) from the period 2010-2013 (See July 7, 2010 and June 27, 2011 PRs) are summarized below. This high-grade silver zone called the Victor Vein runs north-south over a strike length of approximately 500 meters (see map below).

Drill HoleFromToMetresg/t Ag
X42181.00182.001.00182
X75252.30253.000.702047
X34311.00313.002.00711
X37320.00322.002.00330
X26381.00387.006.00847
X26361.00362.001.00582
X40-1420.45423.002.55329
X40-1424.05426.502.451623
X84B357.30360.553.25412
X85159.00171.0012.00127
X86A212.00217.005.00115
X86B-1243.90256.0012.10109
X93192.00196.004.00268
X96230.00232.002.00373
X100225.00226.001.00810
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Figure 1

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“Xtierra’s prior drill campaigns and exploration in 2010-2013 identified eight targets for potential satellite mineralization around the main Bilbao polymetallic deposit. The table above provides strong evidence of potential additional significant silver resources which require further drilling to prepare a 43-101 report. With the much-improved outlook for silver prices, approaching the US$30 per ounce level used in the 2014 RungePincockMinarco (Canada) Limited (RPM) PEA, we are excited about these silver targets potentially increasing the value of the Bilbao deposit. Xtierra invested over $30 million at Bilbao,” commented Tim Gallagher, President.

Historically, 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).

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 outstanding 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 [email protected]

John F. Kearney
Chairman
(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.

Original Article: https://www.newsfilecorp.com/release/71432/

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