X-Terra Signs Letter of Intent to Acquire Up to 60 Percent Interest in Veronneau Gold Property

X-Terra Resources (TSXV:XTT) has announced that it has signed a letter of intent with a group of four private prospectors to acquire a 60 percent interest in the Veronneau gold property in Quebec.
As quoted in the press release:

A new gold showing was discovered on the Veronneau Property in 2015 by geologists of the Ministère de l’Énergie et des Ressources naturelles (Québec), while completing regional mapping of the area. An initial sample was taken from an outcrop of rusty amphibolitized basalt, within a metric deformation corridor (Assay results: 6.89 g/t Au: Source MRNFP, unique sample 2015061382). Additional channel sampling work was completed by the current owners of the Veronneau Property in the summer of 2016 and returned additional encouraging results of 2.39 g/t Au over a width of 4.65 metres.
Only the northern portion of the claims comprising the Veronneau property (15 kilometres further north east), received more systematic exploration work. As very limited gold exploration has been conducted in this area, X-Terra Resources was encouraged by these results and visited the Veronneau Property during its due diligence process for data verification and to investigate its further potential. Additional grab and channel sampling was completed and returned additional positive results.

Click here to read the full press release.