🕐12.01.10 - 10:41 Uhr
Xtierra Inc. (TSXV:XAG) commences drilling at Pinos gold project
Xtierra Inc_Text.jpg
Press Release
・ XTIERRA COMMENCES DRILLING AT PINOS GOLD PROJECT
Toronto, January 11, 2010, Xtierra Inc.
(TSXV - XAG) (“Xtierra” or the
“Company”), is pleased to announce that drilling has commenced on its El
Dorado gold project located in the historic Pinos gold district of the
Central Mexican Mineral Belt, in southeastern Zacatecas State.
The drilling
is being carried out by Tecmin Servicios, S.A.
de C.V.
under the supervision
of Dr.
Anthony Gallon, C.Eng., Chief Geologist, who is a ‘qualified
person’ within the meaning of National Instrument 43-101 - Standards of
Disclosure for Mineral Projects of the Canadian Securities Administrators.
The program comprises an initial 2,000 metres of surface and underground
drilling.
The El Dorado Property
The El Dorado gold project comprises 2,890 hectares in southeast Zacatecas,
about 80km southeast of Xtierra’s Bilbao silver-zinc development project.
Gold mineralization at El Dorado occurs as veins and in quartz stockworks
related to late-stage extensional faulting developed within an intrusive
quartz-eye rhyolite.
Xtierra has discovered an extensive gold-bearing
stockwork encompassing the El Dorado vein and several other parallel vein
structures.
The stockwork is open-ended to the northeast and trends directly
into a second stockwork body, located over 300 metres away from the El
Dorado vein which appears to have a strike of at least 1,000 metres.
The El Dorado gold-silver vein system and surrounding quartz stockworks do
not appear to have been previously tested by drilling.
A similar first ever
drill program in 2006 led to the discovery of Xtierra’s Bilbao silver-zinc
deposit and reinforces the prospectivity of the Central Mexican Mineral Belt
to host new mineral discoveries in historic mining areas.
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 49,862,003 shares issued and outstanding.
Xtierra is
conducting a feasibility study on its 100% owned Bilbao silver‐zinc‐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
and Laguna projects, both located in the Central Mexican Mineral Belt in the
State of Zacatecas, 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 (778) 836-5891
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