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Exterra Resources Ltd Drills Out Widespread Gold At Linden Project

Exterra Resources Ltd (ASX:EXC) has identified multiple mineralised zones from the first batch of assays received from the wholly owned Linden Gold Project.

The drilling program is focused on the Golden Orb, Hill North and Hill East prospects within the Linden project.

Multiple broad intersections were defined at Hill East including 16 metres at 1.75 g/t gold from 9 metres depth.

23 of the 25 holes returned gold mineralised intersections.

Significant quantities of gold are being intersected in the oxide and transitional zones highlighting the potential for open pittable gold deposits.

36 holes have been drilled at Golden Orb and Hill North with results expected soon.

Drill result details

The drill results from Hill East confirm the need for further follow-up drilling at the prospect.

Highlights include:
- 16 metres at 1.75 g/t gold from 9 metres including 7 metres at 2.49 g/t gold;
- 13 metres at 1.80 g/t gold from 12 metres including 3 metres at 3.53 g/t gold;
- 11 metres at 1.33 g/t gold from 31 metres including 7 metres at 1.74 g/t gold;
- 5 metres at 4.06 g/t gold from 58 metres;
- 8 metres at 2.10 g/t gold from 25 metres; and
- 4 metres at 3.17 g/t gold from 23 metres.

Further results from the drilling completed to date are pending.

Analysis

The first batch of drill results from Hill East shows shallow gold mineralisation with potential to be mined using an open pit.

Drilling at Hill East represents the first systematic drilling since the 1990s and further confirms the potential for significant tonnage gold resources.

Results are still to come from Hill North and Golden Orb, where drill results in October 2015 represented a new discovery with grades of up to 13.5 g/t gold.

Any additional resources identified within the Linden Project will compliment the Second Fortune gold mine, which is currently the subject of a development study.

Exterra Resources recently received commitments to raise A$1.5 million through the placement of 37.5 million shares at $0.04 per share.
$500,000 of the raising was taken up by the Mitchell River Group (MRG), a mining investment partnership and technical services consultancy.

Both the placement funds and the partnership with MRG will ensure Second Fortune progresses smoothly towards production in the near term.

Exterra maintains a dual-exploration focus on gold and lithium, ensuring strong news flow in the near-term.

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