Xtra-Gold Resources Inc. Intersects Gold Mineralization in Several Holes
24 1월 2011 - 10:00PM
Marketwired
Xtra-Gold Resources Corp. ("Xtra" or the "Company") (TSX: XTG)(TSX:
XTG.S)(OTCBB: XTGR) is pleased to announce further encouraging gold
assay results from an additional nine (9) diamond core holes (1,809
metres) on Zone 2 from the Phase III drill program at its
wholly-owned Kibi Gold Trend Project, located in the Kibi - Winneba
greenstone belt ("Kibi Gold Belt"), in Ghana, West Africa.
Drilling highlights from the South Ridge Granitoid of Zone 2
include surface or near surface granitoid-hosted gold
mineralization intercepts of 19.5 metres grading 1.52 grams per
tonne ("g/t") gold in drill hole #KBDD10085; 25.5 metres grading
1.50 g/t in hole #KBDD10086 and 23 metres grading 1.74 g/t gold in
hole #KBDD10090. Hole #KBDD10091 encountered a 17.0 metres
intersection grading 2.42 g/t. Drilling is continuing.
Seven (7) out of the 9 holes targeted gold mineralization in the
South Ridge Granitoid body located at the north-western extremity
of the approximately 1,200 metre long by 500 metre to 800 metre
wide Zone 2 gold-in-soil anomaly. This drilling was designed to
follow-up on reverse circulation hole #KBRC09068 which returned a
76.0 metre mineralized intercept grading 1.62 gold, including 20.0
metre grading 3.36 g/t gold, from surface (see October 28, 2009
Press Release), and to test mineralization exposed in recent
trenching in the area. The remaining two (2) holes targeted the
Central Granitoid and the Upper Central Granitoid bodies,
respectively.
Six (6) out of the present 7 holes targeting the South Ridge
Granitoid yielded significant gold intercepts, with all mineralized
intercepts consisting of granitoid - hosted gold mineralization
spanning from 2 metre to 72 metre in core length (see Significant
Drill Intercept Table). Drilling and trenching to date have traced
an extensive system of en echelon extension vein arrays across an
approximately 440 metre distance along the SE-trending South Ridge
Granitoid body. Gold mineralization is associated with
quartz-albite-carbonate-sulphide veining developed within a rock
body of quartz diorite to tonalite composition. Additional
trenching/drilling is required to further define the extent and
strike length of the quartz vein arrays, the structural controls of
the mineralization, and the contacts of the host granitoid
body.
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Kibi Gold Project - Zone 2 - Significant Drill Intercepts
(Phase III Diamond Drilling Program)
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Core
From To Length Gold Grams Target
Hole ID (metres) (metres) (metres) Per Tonne Granitoid
----------------------------------------------------------------------------
KBDD10074 23 35.5 12.5 1.70 Central
Granitoid
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including 24 26 2 5.64
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KBDD10085 3.0 22.5 19.5 1.52 South Ridge
Granitoid
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including 9.0 16.5 7.5 2.83
----------------------------------------------------------------------------
KBDD10085 52.0 59.0 7.0 6.18
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including 54.0 55.0 1.0 29.50
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KBDD10085 106.0 107.0 1.0 6.08
----------------------------------------------------------------------------
KBDD10085 146.0 177.0 31.0 1.37
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including 146.0 163.0 17.0 2.13
----------------------------------------------------------------------------
KBDD10085 186.0 195.0 9.0 0.57
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KBDD10085 232.0 244.0 12.0 0.75
----------------------------------------------------------------------------
KBDD10086 3.0 28.5 25.5 1.50 South Ridge
Granitoid
----------------------------------------------------------------------------
including 3.0 22.5 19.5 1.91
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KBDD10086 58.5 72.0 13.5 1.12
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KBDD10086 91.0 121.0 30.0 0.93
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including 92.0 103.0 11.0 1.50
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KBDD10086 148.0 158.0 10.0 0.88
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KBDD10086 168.0 176.0 8.0 1.27
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KBDD10086 186.0 233.0 47.0 0.58
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and including 215.0 226.0 11.0 0.92
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KBDD10090 0 23 23 1.74 South Ridge
Granitoid
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including 0 15 15 2.50
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KBDD10090 49 69 20 0.95
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including 59 69 10 1.41
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KBDD10090 77 82 5 1.78
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KBDD10090 111 183 72 0.93
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including 111 120.5 9.5 1.57
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including 133 140 7 1.80
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including 174 183 9 1.64
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KBDD10090 220 250 30 0.73
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including 229 244.5 15.5 1.00
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KBDD10091 105 122 17 2.42 South Ridge
Granitoid
----------------------------------------------------------------------------
including 114 121 7 4.96
----------------------------------------------------------------------------
and including 118 119 1 16.55
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KBDD10095 29 31 2 3.97 South Ridge
Granitoid
----------------------------------------------------------------------------
KBDD10096 60 64 4 4.84 South Ridge
Granitoid
----------------------------------------------------------------------------
KBDD10096 90 115 25 0.73
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Notes:
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Reported intercepts are core - lengths; true width of mineralization is
unknown at this time.
----------------------------------------------------------------------------
Intercepts constrained with a 0.25 g/t gold minimum cut-off grade at top and
bottom of intercept, with arbitrarily set 30 g/t gold upper cut-off grade
applied, and maximum of five (5) consecutive metres of internal dilution
(less than 0.25 g/t gold). All internal intervals above 15 g/t gold
indicated.
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Yves P. Clement, P. Geo, Vice President, Exploration for
Xtra-Gold is acting as the Qualified Person in compliance with
National Instrument 43-101 ("NI 43-101") with respect to this
announcement. He has prepared and or supervised the preparation of
the scientific or technical information in this announcement and
confirms compliance with NI 43-101. The NI 43-101 Technical Report
entitled "Kibi Project, Eastern Region, Ghana", prepared by Simon
Meadows Smith and Joe Amanor of SEMS and dated July 12, 2010 is
filed under the Company's profile on SEDAR at www.sedar.com.
Xtra-Gold has implemented a rigorous quality assurance / quality
control (QA/QC) program to ensure best practices in sampling and
analysis of drill core, reverse circulation ("RC") samples, and
trench channel samples, the details of which can be viewed on the
Company's website at www.xtragold.com.
About Xtra-Gold Resources Corp.
Xtra-Gold is a gold exploration company with a land position in
the Kibi greenstone belt ('Kibi Gold Belt') located in Ghana, West
Africa. The Kibi Gold Belt, which exhibits many similar geological
features to Ghana's main gold belt, the Ashanti Belt has been the
subject of very limited modern exploration activity targeting lode
gold deposits as virtually all past gold mining activity and
exploration efforts focused on the extensive alluvial gold
occurrences in many river valleys throughout the Kibi area.
Xtra-Gold holds five (5) Mining Leases totalling approximately
226 sq km (22,600 ha) at the northern extremity of the Kibi Gold
Belt. The Company's exploration efforts to date have focussed on
the Kibi Project located on the Apapam Concession (33.65 sq km),
along the eastern flank of the Kibi Gold Belt. Xtra-Gold's Kibi
Project consists of an over 5.5 km long mineralized trend
delineated from gold-in-soil anomalies, geophysical
interpretations, trenching and drilling along the northwest margin
of the Apapam Concession.
Forward-Looking Statements
This News Release includes certain "forward-looking statements".
These statements are based on information currently available to
the Company and the Company provides no assurance that actual
results will meet management's expectations. Forward-looking
statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by
such terms as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things,
results of exploration, project development, reclamation and
capital costs of the Company's mineral properties, and the
Company's financial condition and prospects, could differ
materially from those currently anticipated in such statements for
many reasons such as: changes in general economic conditions and
conditions in the financial markets; changes in demand and prices
for minerals; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments;
technological and operational difficulties encountered in
connection with the activities of the Company; and other matters
discussed in this news release. This list is not exhaustive of the
factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully
and readers should not place undue reliance on the Company's
forward-looking statements. The Company does not undertake to
update any forward-looking statement that may be made from time to
time by the Company or on its behalf, except in accordance with
applicable securities laws.
The TSX does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Contacts: Xtra-Gold Resources Corp. Paul Zyla Chief Executive
Officer 416-366-4227 pzyla@xtragold.com www.xtragold.com
Xtra Gold Resources (TSX:XTG)
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