Xmet More Than Doubles Its Land Position as a Result of the Conductive Anomalies it has Discovered on Its Blackflake Project
06 Januar 2014 - 2:37PM
Marketwired
Xmet More Than Doubles Its Land Position as a Result of the
Conductive Anomalies it has Discovered on Its Blackflake Project
TORONTO, ONTARIO--(Marketwired - Jan 6, 2014) - Xmet Inc.
(TSX-VENTURE:XME)(OTCQX:XMTTF) ("Xmet") is pleased to announce that
it has staked an additional 298 claim units immediately adjacent to
its existing land package that comprises the Blackflake Project
bringing its total land package to over 21,000 acres.
"As a result of our recent success in discovering conductive
anomalies, and in particular one such anomaly that bares striking
geophysical similarities to that of Zenyatta's Albany Project, we
have aggressively expanded our land position based on our
geological interpretation of areas co-incident with magnetic lows
where we see opportunities to discover additional hydrothermal
graphite targets. Our team has identified additional geological
indicators, coincident with magnetic lows, which may help us to
create excellent targets. We are confident that we have now
assembled a highly prospective land position for hydrothermal
graphite in the region", said Alexander Stewart, Chairman and CEO
of Xmet.
Bill Yeomans, P. Geo, states, "Xmet has now secured a
significant land position. Xmet's Blackflake claim blocks were
staked within similar magnetic lows located within the border phase
of the carbonatite / alkaline intrusion which hosts the Zenyatta
graphite breccia pipes. This is a great opportunity for Xmet as, to
the best of our knowledge, no electromagnetic surveys have ever
been flown on the recently staked ground, which flanks a
significant portion of the Zenyatta Albany claim block. Xmet will
be conducting follow-up ground geophysics surveys on existing
targets in preparation for drilling. Furthermore, in the near
future Xmet will be flying additional electromagnetic surveys over
the recently staked claims."
The technical information contained in this news release has
been approved by William Yeomans, a director of Xmet, who is a
Qualified Person as defined in 'National Instrument 43-101,
Standards of Disclosure for Mineral Projects.'
Neither 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
accuracy of this release.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Xmet assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Xmet. Additional information identifying risks and
uncertainties is contained in filings by Xmet with Canadian
securities regulators, which filings are available under Xmet's
profile at www.sedar.com.
For the latest updates please contact: Xmet Inc.Alexander
StewartChief Executive Officer(416) 644-6588astewart@xmet.caXmet
Inc.Stephen StewartPresident(416)
644-6588sstewart@xmet.cawww.xmet.ca
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