160630 ASX Release AC RC drilling JBEDITS JD Final[1] FIRST DRILLING RESULTS FROM THE HILL EAST PROSPECT AT LINDEN CONFIRM WIDESPREAD GOLD MINERALISATION

Exterra Resources Limited

ACN 138 222 705

ASX Code: EXC

www.exterraresources.com.au Issued Capital:

Ordinary Shares: 237.5m

Options: 24.4m

Directors and Management: John Davis

Managing Director

Justin Brown

NonDExecutive Director

Peter Cole

NonDExecutive Director

Dennis Wilkins

Company Secretary

*Note: All intercepts are downhole widths.

30 June 2016 HIGHLIGHTS
  • Assays received for first batch of samples from Linden drilling programme.

  • Multiple broad intersections defined including 16m @ 1.75 g/t from just 9m down hole.

  • Widespread gold zones intersected: 23 of 25 holes returned gold mineralised intersections.

  • Individual gold grades of up to 10.2 g/t.

  • All gold intersections so far are shallow: less than 70m vertical depth in oxide and transitional zones.

    Exterra Resources Limited (ASX:EXC) ("Exterra") is pleased to advise that assay results from the first batch of samples from portions of the first 17 holes from the 76 hole drilling programme have been received and confirm the presence of multiple mineralised zones at the Hill East Prospect.

    Hill East is the first of a number of targets being tested as part of a 4,000m Air Core (AC) and Reverse Circulation (RC) drilling programme which commenced on the 30 May 2016 (refer ASX release 30 May 2016) at the Linden Gold project.

    So far the drilling has identified multiple zones of ore grade gold intercepts over significant widths in the oxidized zone, and primary mineralisation associated with quartz stringers in a sequence of mafic volcanics and sediments.

    The results confirm the need for further followWup drilling at Hill East. Further assay results from drilling completed at Hill East 1, Golden Orb and Hill North are expected shortly.Best results reported so far from Hill East include:*

    • EXAC082: 16 m at 1.75 g/t Au from 9 m, including; 7 m at 2.49 g/t Au from 9 m
    • EXAC087: 13 m at 1.80 g/t Au from 12 m, including; 3 m at 3.53 g/t Au from 22 m
    • EXAC088: 11 metres at 1.33 g/t Au from 31 metres, including; 7 m at 1.74 g/t Au from 31 m
    • EXAC089: 5 m at 4.06 g/t Au from 58 m
    • EXAC090: 8 m at 2.10 g/t Au from 25 m
    • EXAC093: 4 m at 3.17 g/t Au from 23 m

Drilling at the Hill East Prospect represents the first systematic drilling into this target since the 1990's and further confirms the potential for significant tonnage gold resources. The fact that such significant quantities of gold are being intersected in the oxide and transitional zones highlights the potential for open pittable gold deposits at the Linden Project, in addition to the already identified high grade narrow vein style previously discovered at the Second Fortune Gold Mine.

The Hill East Prospect area is covered by lake sediments, soils and calcrete. Mineralisation appears to be related to NE trending quartz veins crossWcutting layering in a sequence of mafic volcanics and sediments. A major quartz blow to the west and extensive felsic porphyry dykes indicate a major NWS trending fault zone.

A review of historic data indicated mapping and costeaning had identified significant Au and As anomalies including zones up to 100m wide >0.1 g/t Au associated with a profusion of quartz veins and shears.

Further results from the drilling completed to date is pending.

RESULTS

Significant results from 1 metre sampling at a nominal 0.50 g/t Au cut off are summarised in Table 1.

Hole ID

North

East

Azi

Dip

From (m)

To (m)

Interval (m)

Au (g/t)

EOH

Composite

EXAC082

6758728

447542

190

W60

9

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

20

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

11

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1.86

36

16m @ 1.75 g/t Au

1.75

0.91

0.40

2.66

2.69

1.27

7.78

0.66

0.37

0.68

1.30

0.15

0.13

1.77

1.88

3.54

EXAC083

6758748

447545

190

W60

41

42

1

1.18

51

EXAC084

6758767

447549

190

W60

70

74

76

71

75

77

1

1

1

0.67

0.51

0.51

90

EXAC085

6758738

447525

190

W60

15

35

35

36

37

16

38

36

37

38

1

3

1

1

1

1.15

45

3m @ 1.55 g/t Au

1.55

3.01

1.00

0.65

EXAC086

6758758

447528

190

W60

44

44

45

46

47

48

45

46

47

48

4

11

1

1

1

0.68

0.80

0.05

0.08

84

4m @ 0.68 g/t Au

1.79

60

60

61

62

61

62

2

1

1

0.85

1.05

0.65

2m @ 0.85 g/t Au

EXAC087

6758735

447503

190

W60

4

4

5

6

7

5

6

7

3

1

1

1

1.44

39

3m @ 1.44 g/t Au

1.28

1.28

1.77

EXAC087

12

12

13

14

15

16

17

18

22

23

24

25

13

14

15

16

17

18

22

23

24

25

13

1

1

1

1

1

1

4

1

1

1

1.76

*

13m @ 1.76 g/t Au

1.10

0.69

0.29

0.86

0.75

0.19

2.09

3.37

3.73

3.48

EXAC087

31

31

32

33

32

33

2

1

1

0.86

1.06

0.66

2m @ 0.86 g/t Au

EXAC088

6758749

447508

190

W60

27

28

1

1.23

57

1m @ 1.23 g/t Au

31

31

32

33

34

35

36

37

38

42

32

33

34

35

36

37

38

42

11

1

1

1

1

1

1

1

4

1.33

*

11m @ 1.33 g/t Au

1.53

1.59

1.64

0.73

2.73

2.06

1.93

0.61

EXAC089

6758767

447487

190

W60

58

58

59

60

61

62

63

59

60

61

62

63

5

1

1

1

1

1

4.06

69

5m @ 4.06 g/t Au

0.82

2.91

2.21

9.56

4.81

EXAC090

6758733

447459

190

W60

3

7

4

0.55

57

4m @ 0.55 g/t Au

25

25

29

30

31

32

33

29

30

31

32

33

8

4

1

1

1

1

2.10

*

8m @ 2.1 g/t Au

1.30

0.29

0.13

0.96

10.20

EXAC090

39

40

1

0.95

EXAC091

6758762

447465

190

W60

57

70

70

71

58

72

71

72

1

2

1

1

0.62

1.51

1.18

84

2m @ 1.51 g/t Au

1.84

EXAC092

6758707

447456

135

W60

9

9

10

11

12

10

11

12

3

1

1

1

1.26

40

3m @ 1.26 g/t Au

1.45

1.46

0.87

EXAC093

23

23

24

25

26

27

24

25

26

27

4

1

1

1

1

3.17

57

4m @ 3.17 g/t Au

3.53

2.15

3.60

3.38

EXAC093

47

47

48

49

48

49

2

1

1

1.22

2m @ 1.22 g/t Au

1.76

0.68

EXAC094

6758735

447428

135

W60

39

39

40

41

42

40

41

42

3

1

1

1

1.43

63

3m @ 1.43 g/t Au

0.96

1.58

1.74

EXAC097

6758707

447400

135

W60

28

28

29

30

31

32

33

29

30

31

32

33

5

1

1

1

1

1

1.26

42

5m @ 1.26 g/t Au

0.70

4.34

0.42

0.23

0.61

Table 1: One metre reZsampling at a nominal > 0.5 g/t Au, *4 metre composite

Figure 1: Linden North Prospects Location Plan over Aeromagnetics

The Golden Orb Prospect represents a potential new discovery and a new priority target amongst a growing regional portfolio of targets within this poorly explored tenement package. Significant results reported in an ASX release on 20 October 2015 include:*

EXAC078:

EXAC079:

2 metres at 8.02 g/t Au from 3 metres, including;

1 metre at 13.50 g/t Au from 3m

13 metres at 1.29 g/t Au from 0 metres, including;

5 metres at 2.15 g/t Au from 6 metres

EXAC069:

2 metres at 3.80 g/t Au from 3 metres including;

1m at 6.87 g/t Au from 4m

EXAC080:

4 metres at 3.80 g/t Au from 8 metres including;

EXAC074:

2m at 5.6 g/t Au from 11m

2 metres at 2.27 g/t Au from 7 metres

EXAC068:

4 metres at 1.67 g/t Au from 16 metres (4 metre comp)

Exterra Resources Limited published this content on 30 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 June 2016 01:10:02 UTC.

Original documenthttp://www.exterraresources.com.au/images/uploads/ASX_Release_Hill_East_Drilling_Results_30_June_16.pdf

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