🕐26.09.10 - 22:54 Uhr
Xtierra Inc. (TSXV:XAG) reports on drilling at Bilbao
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Press Release
XTIERRA REPORTS ON DRILLING AT BILBAO
・ Deposit Extends to SW and NW with
High Grade Zinc and Lead
・ New Emerging Zone of High Grade Silver
Toronto, September 24, 2010, Xtierra Inc.
(TSXV - XAG) (“Xtierra” or the
“Company”), is pleased to report results from a 6,000 metre diamond
drilling program recently completed at its Bilbao project, Zacatecas,
Mexico.
Twenty-nine holes were completed for a total of 6,077 metres in four
distinct parts: (1) step-out drilling to the south and southwest of the
existing silver-zinc-lead-copper deposit to define additional sulfide
resources and to follow up previously intersected high grade silver vein
mineralization; (2) in-fill drilling within the current oxide resource to
upgrade resource categorization and for geotechnical data; (3) condemnation
drilling in the area of the proposed mine installations; and (4) initial
exploration drilling at other identified prospects within the vicinity of
Bilbao.
Results of drilling completed in the first three parts of the program
indicate that the Bilbao resource extends further to the south, west and
northwest of the existing resource and importantly, remains open to the
southwest.
The additional mineralization discovered will add to the existing
resource base.
Of particular note are the higher grades of zinc and lead
encountered in the southwest area and the discovery of high grade silver and
gold mineralization along the western flank of the deposit.
Drilling also
confirmed the presence of thick zones of oxide mineralization near to
surface and amenable to open-pit extraction in the northern part of the
deposit.
Type
DDH´s
From
To
Width m
Cu%
Pb%
Zn%
Pb+Zn
Ag g/t
Au g/t
Sulfide
X81
188.45
194.60
6.15
0.49
1.45
1.56
3.01
60
Sulfide
X82
229.00
230.30
1.30
0.06
0.68
0.58
1.26
263
Sulfide
X82
362.00
363.00
1.00
0.00
0.04
0.08
0.12
119
Sulfide
X82
431.00
432.00
1.00
0.01
0.06
0.12
0.18
136
Sulfide
X84
282.30
284.50
2.20
0.21
6.28
4.75
11.03
71
Sulfide
X84B
201.00
205.00
4.00
0.15
4.01
0.39
4.40
125
0.62
Sulfide
X84B
357.30
360.55
3.25
0.01
0.13
1.34
1.47
412
Sulfide
X85
155.00
175.00
20.00
0.01
0.18
0.14
0.32
90
Sulfide
X85
198.50
200.30
1.80
0.65
2.68
4.66
7.34
54
Sulfide
X85
270.95
275.60
4.65
0.04
1.10
1.12
2.22
20
Oxide
X64
14.10
27.00
12.90
0.21
0.81
9.64
10.45
40
Oxide
X65
0.00
11.00
11.00
0.08
2.79
1.86
4.65
18
Oxide
X67
0.00
89.00
89.00
0.14
1.63
1.46
3.09
30
Oxide
X68
0.00
121.00
121.00
0.06
1.47
0.60
2.07
18
Oxide
X68
61.00
97.35
36.35
0.03
3.48
0.08
3.56
37
Oxide
X69
8.50
34.05
25.78
0.07
2.82
1.74
4.56
25
Oxide
X69
61.00
74.00
13.00
0.23
1.45
3.16
4.61
41
Oxide
X77
131.70
136.30
4.60
1.13
2.62
6.08
8.70
139
Oxide
X73
158.00
162.90
4.90
0.08
2.80
1.80
4.60
87
Oxide
X73
240.00
241.25
1.25
0.01
0.05
0.14
0.19
194
Oxide
X75A
252.30
254.00
1.70
0.37
4.78
2.70
7.48
848
Oxide
X75A
252.30
253.00
0.70
0.89
10.40
5.51
15.91
2047
Oxide
X75A
300.50
301.00
0.50
0.13
0.18
0.12
0.30
20
0.61
Step-out Drilling (Sulfide)
This phase of drilling sought to identify extensions of the Bilbao
mineralized body to the south and west of the existing resource.
New
mineralization was discovered resulting in extensions to the width and
length of the body by at least 50 metres in both directions.
The
mineralization remains open at depth in a south-westerly direction.
Of
particular interest, are the prevailing high silver grades with a 20.00 m
wide zone averaging 90g/t Ag intersected in drill hole X85.
High silver
grades have also been found in drill holes X81, X82 and X84B, the latter
with 860g/t Ag, between 358.00 and 359.00 m as well as a further zone
between 202.00 and 203.00 m grading 1.23g/t Au, together with 102g/t Ag, and
2.80% Pb.
The data suggest the presence of at least two parallel zones with
elevated precious metal values and confirms and complements the native
silver and stromeyerite mineralization found previously in DDH X26.
The
silver-enriched zone is now known to extend over an area 350 x 100m in a
north-south direction and appears to occupy a brecciated zone within the
limestone sequence, the thickness of which is variable from about 4 to 20
metres.
The high silver values demonstrate the presence of a precious
metal-enriched fracture zone within the western part of the Bilbao deposit.
Oxide Resource Definition
Three east-west sections were drilled across the Bilbao deposit to refine
the morphology of the oxide part of the deposit and assist in the planning
for open pit mining.
Drill holes in the central sector have intersected very
thick zones of oxide mineralization adding reassurance to the open-pit oxide
resource in that area.
Specifically X67 contained 89.00 m of 3.09% combined
Pb+Zn, X68 had 121.00 m at 2.07% Pb+Zn and X69 displayed two zones,
respectively of 25.78 m and 13.00 m, with 4.56% and 4.61% combined Pb+Zn.
To
the west of the old Main Shaft area, drill holes X73, X75 and X77 have
demonstrated an extension to the previously known mineralized body in the
northwestern sector which provides a connection with the exploration holes
X42 and X43 where mineralization was found previously.
In particular drill
holes X73 and X77, which are spaced 75m apart, have shown strong
mineralization with X77 containing a 4.60 m zone with 1.13% Cu, 2.62% Pb, 6.
08% Zn and 139g/t Ag.
Drill hole X75A, located 50m further west, has encountered extremely high
grades of silver in a thin zone between 252.30 and 253.00 m with 2,047g/t
Ag, 10.4% Pb, 1.13% Cu and 5.51% Zn in oxidized limestone breccias.
This
zone is probably correlative with the silver-rich zones encountered in the
step-out drilling to the southwest of the deposit.
This part of the program confirms the presence of thick mineralized oxides
near to surface and amenable to open-pit extraction in the northern part of
the body, it also affirms a continuity of mineralization towards the
north-west of previously discovered mineralization, and finally it suggests
that there is a silver-enriched fracture zone extending between DDHs X85 and
X73, a distance of 320m.
Condemnation Drilling
In order to assist in the mine planning necessary for completion of the
Feasibility Study currently being undertaken, a series of condemnation holes
have been drilled to ensure that mineralization is not sterilized beneath
any proposed mine facilities and that the foundations for any buildings or
processing plant facilities is structurally stable.
Holes X87 and X90 were
drilled in the area proposed for the Tailings Disposal Facility (TDF) to the
east of the proposed open-pit and holes EP 1 and EP 2 were drilled in the
area over a proposed Waste Dump.
No significant mineralization was
intersected in any of these holes and consequentially the sites are suitable
for the chosen purpose.
Commenting on the results of the latest drilling campaign, Mr.
Terence
McKillen, CEO of Xtierra Inc., said “We are extremely pleased that the
latest drilling campaign at Bilbao had successfully demonstrated additional
resource potential to the south, west and northwest of the existing resource
which will add to the indicated and inferred resources.
The discovery of a
north trending structural lineament containing high grade silver and gold
values appears to be particularly promising as enriched silver values have
now been indicated over a strike length of at least 300 metres.
Results of
the exploration drilling will be available shortly.”
Samples from half-core were prepared at the Stewart Group laboratory in
Zacatecas and initially analyzed for 38 element content using ICP-MS
(inductively coupled plasma - mass spectrometry) by the Stewart Group
(Eco-Tech Laboratory) in Kamloops, British Columbia.
Values exceeding the
limits of detection are automatically re-analyzed by Fire Assay or Atomic
absorption spectrometry (AAS) methods respectively.
Standards and blanks
were used regularly for quality control.
Qualified Person
Information of a scientific or technical nature contained in this release
has been prepared by or under the supervision of Terence N.
McKillen,
P.Geo., Chief Executive Officer and Dr.
Anthony C.
Gallon, C.Eng., Chief
Geologist, both ‘qualified persons’ within the meaning of National
Instrument 43-101 - Standards of Disclosure for Mineral Projects of the
Canadian Securities Administrators.
About Xtierra Inc.
Xtierra Inc.
is a Toronto based exploration and development company listed
on the TSX Venture Exchange.
Xtierra’s shares trade under the symbol
“XAG”.
Xtierra has 75,637,003 shares issued and outstanding.
Xtierra is
conducting a feasibility study on its Bilbao silver‐zinc‐lead-copper
project in Zacatecas, Mexico.
Xtierra’s objective is to become a mid‐tier
producer of precious and base metals through the development of its Bilbao
project as well as through exploration, organic growth and M & A
opportunities.
This news release may include certain "forward-looking statements".
All
statements other than statements of historical fact, included in this
release, including, without limitation, statements regarding potential
mineralization, resources and reserves, exploration results, and future
plans and objectives of Xtierra, are forward-looking statements that involve
various risks and uncertainties.
There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important
factors that could cause actual results to differ materially from Xtierra’s
expectations are exploration risks detailed herein and from time to time in
the filings made by Xtierra with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or the accuracy of this release.
For further information visit www.xtierra.ca or
contact:
Terence N.
McKillen, President & Chief Executive
+1 (416) 362-8243
Tim Gallagher, Director
+1 (416) 925-0090
Alejandro Alaniz, Director Finance & Administration (Mexico) + 52
(492) 925-0804
Brett Whitelaw
+1 (604) 984-8633
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