Xtierra Inc.
TSX VENTURE : XAG

Xtierra Inc.

March 04, 2010 09:57 ET

Xtierra Drilling Update at Pinos Gold Project

TORONTO, ONTARIO--(Marketwire - March 4, 2010) - Xtierra Inc. (TSX VENTURE:XAG) ("Xtierra" or the "Company"), reports that it has negotiated an extension to the due diligence period of its option agreement for the El Dorado gold project located in the historic Pinos gold district of the Central Mexican Mineral Belt, in southeastern Zacatecas State.

The vendors of the El Dorado property have granted the Company an extension of the option exercise date until March 31, 2010. The extension will give Xtierra additional time to complete and evaluate data from the ongoing first phase of drilling being carried out as part of its due diligence program.

Xtierra has completed four holes, two of which were drilled from underground drill stations in the main El Dorado adit, and two holes have been completed on surface. The fourth hole was drilled 350 metres to the east of the El Dorado vein. The Company plans to drill a further two surface holes for a total of six holes of approximately 1,800 metres of drilling during this first phase due diligence period.

During the excavation of an underground drill station on the hanging wall side of the El Dorado vein adit, a parallel high grade gold vein was discovered. Sampling across the narrow vein returned grades of 189 g/t gold and 97 g/t silver over 5 cm as well as 13.1 g/t gold and 109 g/t silver over 12 cm.

About 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-lead-copper development project. Gold mineralization at El Dorado occurs in veins and in quartz stockworks related to late-stage extensional faulting developed within an intrusive quartz-eye rhyolite.

In addition to the mineralized epithermal vein system, Xtierra is also targeting a series of sub-parallel mineralized zones within a surrounding envelope of quartz stockwork-style alteration with the potential for bulk tonnage, lower grade, gold and silver mineralization. Surface mapping, prospecting and trenching by Xtierra has outlined a zone of stockwork alteration that trends for a distance of over 600 metres from the El Dorado vein.

The El Dorado property has not been previously tested by drilling.

Qualified Person

Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Terence McKillen, P.Geo., the President & Chief Executive Officer of the Company, and the drilling program is under the supervision of Dr. Anthony Gallon, C.Eng., Chief Geologist, both of whom are '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 69,637,003 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.

For further information visit www.xtierra.ca.

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.

Contact Information

  • Xtierra Inc.
    Terence McKillen
    President & Chief Executive
    +1 (416) 362-8243
    or
    Xtierra Inc.
    Tim Gallagher
    Director
    +1 (416) 925-0090
    or
    Xtierra Inc.
    Alejandro Alaniz
    Director Finance & Administration (Mexico)
    +52 (492) 925-0804
    info@xtierra.ca
    www.xtierra.ca